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Mortgage Guarantee Scheme, £380 Billion?!?!?!?!


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HOLA441
The real problem might be that perception of risk has changed- many people in the past were willing to take on massive mortgages because they had grown used to an enviroment where risk seemed non existant and gain seemed a forgone conclusion.

But in recent times it has been graphicly demostrated that house prices can go down. This shocking revelation will, I feel, temper many peoples willingness to take on mortgages at the very edge of affordability- they now know that the possibility exists that what has happened in the recent past can happen again- this is a new world of risk that many people who came of age during the boom had not suspected was possible.

Was there ever a specualtive bubble in history that was successfully reflated once the mythology that sustained it was shown to be false?

Nicely put.

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