Leonard A Magazine, Publisher
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The first consequence is a change in Prime Ministers with David Cameron resigning. The EU is not likely to negotiate a generous divorce. While the capital and stock markets are sensitive and volatile to rumors and guesses, investors are fleeing to safe havens, such as gold, dollars, and US debt instruments. For this reason, the British pound is at a 30 year low.
Populist insurgents are emboldened by this win, so more will come. France and other countries are now forced to deal, or rather, to make concessions, with these leaders and their movements.
The EU could circle their wagons, so to speak, and embrace a tighter integration of the remaining members, especially with security and military preparedness.
This vote has and will continue to disrupt. We quote from The Financial Times: “With Britain out, the bloc’s seven non-euro countries will account for only 15 per cent of EU economic output, as opposed to more than 30 per cent with Britain in. Brexit will increase Germany’s political and economic supremacy in the EU — a prospect neither Berlin nor its partners welcome.”
Scotland will now vote to become independent from Great Britain and remain in the European Union. They defeated such a referendum in September 2014.
RECORD PRICES FOR HOUSING
(Monthly Average Residential Price May 2016)
Clackamas County, OR ~ $419,686 ~ April 2016
Clark County, WA ~ $325,793
King County, WA ~ $585,026
Multnomah County, OR ~ $420,433
Washington County, OR ~ $368,573 ~April 2016
Buying vs. Renting:
The median rental price for rentals in June 2016 compared to same period last year:
Portland, OR was $2,195, an increase of 16%
Seattle, WA was $2,650, an increase of 6%
San Francisco, CA was $4,500, an increase of 3%
Los Angeles, CA was $4,250, an increase of 33%
San Diego, CA was $2,750, an increase of 10%
Bellingham, WA was $1,600, an increase of 13%
Brooklyn, NY was $2,590, an increase of 8%