Sunday, Aug 30, 2009
Truthful article about reasons behind HPI
Guardian: Prices might be going up, but the new homes aren't
"Housing affordability is getting worse, not better," said a senior government adviser. "The reason is the requirement for a deposit. The expensive thing is not the house, but saving for a deposit."
..........no, ofcourse, silly us, all the time it was the cost of borrowing the money to buy the (in)-expensive houses, not the cost of the houses that caused everyone to borrow hugely. Brilliant politician double speak.
Posted by bystander @ 07:37 PM (547 views) Add Comment
2 Comments
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1. phdinbubbles said...
'Housing affordability is getting worse, not better," said a senior government adviser. "The reason is the requirement for a deposit. The expensive thing is not the house, but saving for a deposit." '
The cretins are crawling back out the woodwork.
2. Cynical_man said...
"clinging to the hope that the engine of the British economy - a roaring housing market - may be spluttering back to life."
A roaring housing market is the 'engine'of the British economy? Time for me to leave this country I think...This kind of thinking is unsustainable madness.