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Why It Makes Sense To Hope For A House Price Crash

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The Telegraph

Student debts are making it impossible for many young people to save - even before tuition fees rise to £9,000 a year - and could push the average age of first time buyers up to 44, according to Scottish Widows.

Even if you suspect the insurer of self interest – because less saving is bad for its business -its forecast is disturbing; and not just for the housing market. While the Coalition Government emphasises

that higher tuition fees will not need to be repaid until earnings exceed £21,000, anyone who imagines these liabilities are any less real for being deferred is heading for a horrible surprise.

Just when their parents bought their first home, typically around the age of 27, the graduates of tomorrow will find that the Student Loans Company has first call on any spare cash they may scrape together. And, lest they forget who needs their money more than they do, HM Revenue & Customs will take it from their salary before they see it – just as happens now on pay above £15,000.

Quite an interesting article. :)

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MSM mention - NICE - cant belive I missed this

Opinion is turning


That's why the past few yrs they have been buying into emerging markets around the World

The knobs have just realised that they have pushed the proles too far - coz the Financial institutions 'income' projections have/are about to drop like a stone!

I will highlight in blue the particular 'phase' on this bit of Wisdom >>>

"If human vices such as greed or envy are systematically cultivated, the inevitable result is nothing less than a collapse of intelligence. A man driven by greed or envy loses the power of seeing things as they really are, of seeing things in their roundness and wholeness, and his very successes become failures.

If whole societies become infected by these vices, they may indeed achieve astonishing things but they become increasingly incapable of solving the most elementary problems of everyday existence.

The Gross National Product may rise rapidly: as measured by statisticians but not as experienced by actual people, who find themselves oppressed by increasing frustration, alienation, insecurity, and so forth.

After a while, even the Gross National Product refuses to rise any further, not because of scientific or technological failure, but because of a creeping paralysis of non-cooperation, as expressed in various types of escapism on the part, not only of the oppressed and exploited, but even of highly privileged groups"

E.F. Schumacher, 'Small is Beautiful', 1973.

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