Monday, Aug 09, 2010
Summer time ... and the living's not easy
Guardian: High cost of borrowing may be the legacy of the credit crunch
Nor is the money, unless you borrowed a lot at the right time. Two-tier Britain. Will this mean that gradually the support for house prices dwindles, or will it mean that the housing stock gradually moves into the hands of an asset-rich elite?
Posted by letthemfall @ 02:59 PM (615 views) Add Comment
3 Comments
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1. braindeed said...
In essence the process of property apartheid is well advanced. The notion of wealth ‘cascading down the generations’ has been accepted as a truism since…..well you all know. No-one should pay any ‘death-taxes’ now, if you live in a mansion, it implies a savvy that means most ‘avoid’ any taxes.
Over a third of dwellings haven’t had a mortgage on them since the fifties, at least
I was a lone voice in my circles, way back in the pre millennium bug days, that we were recreating feudalism with the death duty avoidance and the nonsense that was BTL (I was a siren bore as far back as ’97 on that one).
The rhetoric of this Coalition has been awful to listen to – there are so many truisms that I could argue a counter case, that I’ve learned to shut up socially. The really rich know the true score but look away, and the wannabe nouveau riche art so highly leveraged (and mostly too stupid) to rock the boat. I don’t like it, but there you go – and being a champagne socialist, I’ll not be paying a penny – sorry to all my protagonists, I hate hair shirts.
I truly feel for the talented of this young generation that are being shafted, and called feckless, by old gits who think the can take it with them…. or are so paranoid about money .I really hope it sorts itself out, it’s just wrong.
2. rumble said...
"Champagne socialist" - how many of another sort? Impractically few.
3. braindeed said...
2. rumble said...
"Champagne socialist" - how many of another sort? Impractically few.
The 'Nasty Party' - I liked that one.