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othello

Property Porn

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Excellent New Statesman article on property TV programmes and the market in general.

"The unmentionable truth behind property porn is that the housing market impoverishes rich and poor alike. Rising equity may give homeowners a sense of increasing wealth, but all that most of them have at the end of the process is an object that they need - a house - which they can exchange only for another, equally expensive house. The real winners in this process have been the professional developers who make cash purchases of large numbers of properties. Even the richest of the rest of us are spending extraordinary sums on decrepit old houses, which we proceed to live in. When we move house we are forced to become small-time speculators in a way that is likely to be more frightening than titillating, because it brings us into direct contact with the injustices of the market. But the market is the one thing that property porn can never be open about."

New Statesman Article

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Good article.

I hope we see more reports like this in the press exposing the current housing market as it is - a giant pyramid scam, sucking in as much money as possible. Hopefuly with more of these stories it will turn wider opinion against the notion that rising prices are a good thing.

Last two paragraphs sum it all up really.

Bachelor.

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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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