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Giordano Bruno

Bearish Economist Article

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35 minutes ago, honkydonkey said:

Conclusion: Massive shitshow causing no end of societal problems.

Yes but the oldies didn't have PlayStation's so they deserve 3 spare bedrooms.

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5 minutes ago, Freki said:

No mention of the obvious solution: repeal stamp duty, introduce land value tax. Just saying, situation sucks...

Agreed.

 

I had an argument elsewhere on the internet with an 18 year old kid set to inherit his boomer parents million pound house.

 

We were both against stamp duty, but I promoted LVT. His argument was that that wasn't fair as it wasn't his fault that the house was worth so much.

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6 minutes ago, Sancho Panza said:

I remember reading this 2003 article on the housing bubble by the Economist.....................they nailed it even back then

http://www.economist.com/node/1794873

In recent years they've had some staff writer churning out the bullish supply-demand argument repeatedly.

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14 minutes ago, Si1 said:

In recent years they've had some staff writer churning out the bullish supply-demand argument repeatedly.

Sad,because I remember reading that in Zurich airport at the time and it reassured me that I wasn't mental.

The last 15 years have been hard to understand for anyone with a functioning brain.

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Why do supposed experts always mention the lack of house building and then move on without thought. i've not heard buyers moaning about a lack of choice, no its always price. 'Lack of affordable homes' is used constantly whilst at the same time as we are told we should build our way out of the crisis, how can building more overprice home solve this. These experts chose to ignore the massive land banks and the fact why won't builders just do what they should and build. 

Cheap credit is the housing crisis. Decades of below market rates mortgages have skewed housing into the abortion we now see. Central bankers the world over know this truth and yet still try to justify this. Just yesterday Mark Carney who tells us they don't target house prices contradicted himself by justifying increasing QE because of 'weak sales' in the said same housing market. All the assembled journalists sat silent as he trotted out his naked lie and said nothing. It is the truth that must not be said. At some point someone will just point out that the king isn't wearing any clothes and then we'll all look fools as even we ignored what our eye could see. 

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