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Captain Tightwad

The Illogical Pricing Of Property

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'At some point, there must be a reckoning: either the elderly must sell their assets, causing a significant fall in property prices, or they will have to be taxed on those assets to subsidise younger people's purchase of property that is priced out of their reach. '

A beautifully reasoned piece.

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Splendid summary of our national insanity by Frances Coppola.

The illogical pricing of property

Similarly splendid summary of the summary, by 7 year itch:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=193625

'At some point, there must be a reckoning: either the elderly must sell their assets, causing a significant fall in property prices, or they will have to be taxed on those assets to subsidise younger people's purchase of property that is priced out of their reach. '

A beautifully reasoned piece.

I agree.

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"We can build or renovate enough properties to ensure that supply matches demand, so that house prices are not constantly driven upwards by supply shortages."

this aspect is errant nonsense.

The ONLY way prices CAN rise many % points above wages is that people are enabled to BORROW to pay the price.

sure, S+D is an influence, but it is insignificant compared to the LEVERAGE (financialisation) in the price. If this were not so, then why are all the schemes around to keep the borrowing up....they could simply stop building to acheive the same thing, IF that was their only aim.

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"We can build or renovate enough properties to ensure that supply matches demand, so that house prices are not constantly driven upwards by supply shortages."

this aspect is errant nonsense.

The ONLY way prices CAN rise many % points above wages is that people are enabled to BORROW to pay the price.

sure, S+D is an influence, but it is insignificant compared to the LEVERAGE (financialisation) in the price. If this were not so, then why are all the schemes around to keep the borrowing up....they could simply stop building to acheive the same thing, IF that was their only aim.

Corrected further:

"The ONLY way prices CAN rise many % points above wages is that people are enabled urged to BORROW to pay the price lie & commit fraud by taking out PREDATORY LIAR LOANS, thereby obtaining funds [albeit illegally] in order to pay the ever-rising "prices". These ever-rising "prices" are themselves the result of continual fraud. [i.e. It is the Largest Ever pyramid/Ponzi scam in all history...]

Edited by eric pebble

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