Tuesday, Mar 10, 2009
No Green Shoots Just A Profession In Denial
Guardian: Green shoots are symptomatic of a profession in denial
50% falls finally being spoken about , soon we will hear that the problem is not the current sensible levels of lending but hugely inflated house prices that must now fall in line with affordablity (FSA regulation loan to income ratios fixed around 3.25 one wage 2.5 two etc)? I do keep reading property is becoming more affordable but still has a long way to go, so why can't people see that property was NOT affordable and that has been the reason for irresponsible lending and billions of pounds worth of debt that will take us 30 years to pay off and smillions of people bankrupt. How can we EVER go back to how things have been the past decade? NOW IS A GOOD TIME TO SELL BEFORE YOUR PROPERTY IS WORTH 90% LESS THAN IT WAS IN 2007, each week more evidence that this is they way it is going
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