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geoffps

Want To Live Rent Free?

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My wife has just watched a programme on Russian T.V. and saw the same story on Euronews.

Said that Latvians are unable to sell their houses (read - unwilling to sell for very low prices) and can't find people to rent them either so they are offering them rent free for tenants who will pay the costs of utilities and rates. The houses were apparently very nice.

A few years ago Latvian houses were very cheap by western standards, prices went up dramatically after peristoika and particularly after they joined the E.U. Ordinary Latvians went quickly from not having much of a pot to p1ss in to untold wealth through the increase in their property value and the prospect of losing their newly acquired riches is too much to bear. They'll let you live in their house for nothing until 'things get better'. Poor sods.

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Banking is evil.

here we see a very mature society, where houses are bought with cash, suddenly, bankers enter the scene, people outbid the cash buyers with borrowed money, at interest added, and the next sale being able to outbid the last as ALL the assets rise with the amount of borrowed money bids.

what has changed to make the houses more valuable?

nothing real...just debt. debt created out of thin air based on its own largesse.

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Banking is evil.

here we see a very mature society, where houses are bought with cash, suddenly, bankers enter the scene, people outbid the cash buyers with borrowed money, at interest added, and the next sale being able to outbid the last as ALL the assets rise with the amount of borrowed money bids.

what has changed to make the houses more valuable?

nothing real...just debt. debt created out of thin air based on its own largesse.

Well the rot goes much further than that. Banking captured the entire political system.

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Banking is evil.

here we see a very mature society, where houses are bought with cash, suddenly, bankers enter the scene, people outbid the cash buyers with borrowed money, at interest added, and the next sale being able to outbid the last as ALL the assets rise with the amount of borrowed money bids.

what has changed to make the houses more valuable?

nothing real...just debt. debt created out of thin air based on its own largesse.

& if the Latvians can't bear to return to normality after only a madness blip then what chance have the Brits got ? -

The very idea of saving to buy a house for cash ... unthinkable; though my man's grandfather (seven children & a not-so-special income, but very frugal) did it 80 years ago

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