Monday, Apr 30, 2007
Future generations worse off? Really?
Guardian: Future generations 'will pay for high house prices'
This study may be correct, unless... it s a bubble, in which case price revert to the mean and future generations are fine (and older generations are scr**ed!!) What i find amazing is that these think tanks translate a relative recent observation (prices have gone up for only 6 years!!) into a universal rule for eternity. Interest rates will increase, more houses will be built, unemployment will go up and house prices will come down... this is the most likely outcome. Relax, HPI is just bonfire, not a multi-generation problem.
Posted by confused76 @ 11:59 AM (31 views) Add Comment
2 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
1. Whiteknight said...
Future generations will pay in the sense that the country is largely stuffed after the fact.
Pounds Sterling as a quality currency will be a distant memory (it is already really ...). That is the relative wealth factor that has been squandered.
Whilst we think we have been getting wealthy via property we have infact been gaining nothing and now as a country produce little if anything.
We will all be paying mulltiples of what we are now for electronic good etc.
This is the legacy we have left.
2. Scott said...
Yes Whiteknight, but if this happens, just think of the smuggling opportunities and the growing recession proof black markets. Us brits always play the bad guys in the films so we won't lose face.