Wednesday, Apr 25, 2007
Is the market finally coming off the boil?
Mirror: Homes 'Cool'
Short and too the point. May get into the consciousness of the masses.
Posted by auntie @ 09:21 AM (176 views) Add Comment
7 Comments
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1. nearly30 said...
Good one Mirror!
Love the bit about people re-mortgaging to fixed rate loans - can see the short-term logic but where are they going to magic that extra money needed when then come out from 5% mortgages and hit 7%?
Also - knowing human nature the re-mortgaging and 'initial' reductions in re-payments will mean there is cash burning a hole in people's pockets.
All a fantastic delaying tactic for what will be an inevitable and MASSIVE collapse in liquidity!!
2. Darren said...
I don't believe that anything will get through to the consciousness of the masses. In reality people's behaviour will only change when they are forced to. People have already displayed a willingness to take the most rediculous financial risks. Reasons include, stubborness, naivity or just being too thick to recognise the risk. I don't think there is a solution to prevent people taking out large loans. You could argue with someone wishing to buy their 'dream home' and taking out a loan for 6 times their salary for hours and you still wouldn't convince them that you shouldn't buy what you can't really afford, they just don't see any other option.
It does unfortunately look like most of us, whether we like it or not are at the mercy of the banks. The real illusion being that we have control over our finances or can somehow strike it rich. Even if you yourself are prudent, all the sheeple will eventually drag the whole thing down.
Let's face it most of us born poor or lower middle class will stay that way, classless society, never did under the phrase.
3. lvmreader said...
Muhuhahahahaha!
4. lvmreader said...
5. lvmreader said...
6. mrmickey said...
If you can keep people dumbed down with poor education and a mindless celebrity culture to keep them occupied you can eventually create a nation a slaves, I expect the government to agree to wipe off student debt in return for a tour of duty in Iraq as the next scam. That degree in David Beckham studies will really come in handy while trying to dodge bullets.
7. inbreda said...
Degree in David Beckham
LOL