Thursday, Aug 27, 2009
Mass Delusion
Guardian: One in five GCSEs passed at A or A*
Educational "success" and the "success" of the property market may not appear to be linked on the surface - but perhaps they are.
In both cases it's difficult to get to the real story because of the mass desire to believe in something comforting.
House prices are going up, our children are becoming more and more clever.
Posted by mken @ 11:11 AM (430 views) Add Comment
5 Comments
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1. Desertorchid said...
As a nation we are becoming more intelligent. As a result house prices keep going up and we're getting richer.
Simples
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. hpwatcher said...
Both - education and housing - are being manipulated by a government that is comprised of liars and thieves.
4. Happyrenting said...
All this tells me is to look at the whole situation long-term. I don't have any figures but I imagine a MASSIVE amount of people are living in houses they bought years ago, either mortgage-free or near-paid-up. Many of these people simply wouldn't have a prayer of buying the same house again now at post-2000 levels (even considering the latest marginal slump). So all this tells me is that when these people grow old and die, they will either leave their house to family, the house will be sold on(?) or lie empty. Either way this must equate to millions of houses potentially available to twenty/thirty-somethings in years to come. I only see three ways forward… 1) banks will revert to the ‘good old days’ and these properties will be kept at 2007 levels forever and bought with mortgages based on umpteen-salary-multiples, 2) the GCSE ‘geniuses’ we are breeding today will all land high-paying jobs in a country with no manufacturing or sustainable output and continue to afford houses at £500k average or 3) house prices will absolutely tumble like a pack of cards. My money is on the 3rd option.
5. Pmaupoil said...
"As a nation we are becoming more intelligent. As a result house prices keep going up and we're getting richer."
+1