Surprising that a simple majority is enough to effect such a massive change, one would expect that a supermajority would be required to change the status quo.
It's a sad day for the UK's younger generation who voted overwhelmingly to stay, the older generation, who will depend for their bread and butter on the younger ones has just made their life a lot harder.
Everybody that's gleefully celebrating will be in an excellent position to review their take on this in a couple of years when the real impact will be a lot more clear than it is today.
1. Falling house prices (George Osborne estimated 18%, helped by rising interest rates) will help many, many young people get on the housing ladder. You can look at this as a massive redistribution of wealth from old to young;
2. Although full of optimism while studying at university, many UK graduates have been crowded out of the job market by more experienced EU migrants, coming from countries with far worse unemployment rates.
3. Young people didn't have much invested in the UK, and in many ways had the least to lose.
But we would need to look at the root causes of a fall in house prices. Is it because people will have less money to spend? If so, then it's not made housing any more affordable.
It's a sad day for the UK's younger generation who voted overwhelmingly to stay, the older generation, who will depend for their bread and butter on the younger ones has just made their life a lot harder.
Everybody that's gleefully celebrating will be in an excellent position to review their take on this in a couple of years when the real impact will be a lot more clear than it is today.