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Casual Observer

Debt - Short Memories

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This, from a blog on this site, struck a chord with me, so I thought I'd extract and share it:

"Discussing the figures with a young economist, he opined there was "nothing to worry about" and that "debt is not necessarily a bad thing". Feeling like Methuselah, I asked him how old he was in 1991. Back came the answer; 12.

So, of course, he had no recollection of reporting on repossessions running at 1,500 homes a week right through that dismal year. He had never spoken to tearful former-homeowners who, in one case I recall, had lost their property because of debts run up to fund home improvements."

Edited by Casual Observer

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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