Before today I haven't looked at UK house price data for at least six months. Understandably, this is quite limiting if one is running a blog that started out as a housing bubble blog.
When house prices were rising, I was angry. I found it outrageous that years of easy credit, speculation and excessive regulation on land use conspired to ensure that many young people could not afford to buy a home. Now that house prices are falling, I am frightened.
For 40 years, the economic fortunes of the UK were tied to property speculation. As a country, we ran this scam as hard as we could. We took it to the limit.
Now, house prices have nowhere else to go but down. As they fall, so do the fortunes of the country.
8 comments:
Easy fucking credit , you cunt, where were you when interest rates went as high as 17% and "Home" owners had to take on two or three jobs.
Go fuck yourself.
Anonymous thinks easy credit is the same thing as cheap credit. During a housing bubble lenders thrive on people like him* who don't know the difference. This isn't to make light of his misfortune, but rather to point out that your expensive credit was nonetheless part and parcel of an era of easy credit.
*I assume it's he given the prose.
Anon - I'd like to remind you that our host is a lady (I think).
Regardless - you've lost your argument.
You go fuck YOUR self.
I apologise - SHE can go fuck herself.
I can see why you needed to take three jobs to pay a mortgage.
I doubt it had much to do with 17% interest.
The "easy" credit some twat was spouting about in an earlier comment consisted of proving, over a two year period and to the building society's satisfaction, that you were capable of regular saving.
3 times your annual wage was the maximum loan and you could not include your spouse's income.
Then along came the suits with their bright idea of lending up to 7 times the annual salary and packing it out with the spouse's income ( soon to be lost when she became pregnant).
Easy credit and low interest rates my arse.
Can't you make a point without being foul mouthed about it ?
NO, not when imbeciles spout crap.
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