It was about time that competition drove coffee shops to start offering more reasonably priced coffee on the streets. (see http://www.mirror.co.uk/news/uk-news/starbucks-trialling-1-filter-coffees-7659869) For a few years there was almost no way to drink a coffee in a city centre without paying outrageous prices around £3. Such prices were thought for customers who would be paying not only for the actual drink, but for the "experience" of spending a while in a specifically branded coffee shop, such as Starbucks and Costa.
Other sellers soon thought they could ask for similar prices without offering the same experience - often for a take-away coffee in a cardboard cup. The problem has been - and will still be for a while - that there were people willing to pay £3 for a coffee from any seller, so for some time it seemed they could get away with this.
I always refused to pay such prices and was gladly surprised to see more and more shops offering coffee for £1 on the streets - still a disproportionate price for a product that barely costs more than 25p including all overheads like salaries, rent and maintenance - but at least a reasonable price to have this service "on the go". Obviously the coffee bubble is bursting and competition is bringing coffee sellers to their senses.
Needless to elaborate on: it is also about time the same happens to the new housing bubble. Society doesn't seem learn: after the economic crisis, ultimately caused by such a housing bubble, we seem to want to get back to the old ways and prices are again soaring to surreal amounts. Just as with coffee - the problem are those thoughtless citizens who keep being willing to pay such prices. As long as there is someone willing to pay a price, I can't blame the seller for taking the money!
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