Tuesday, Jun 13, 2006

Lionel Shriver tackles the British obsession

The Guardian: You Brits all want a patch of earth to call your own - but only because you're obsessed with its escalating value. It's sheer greed

Award-winning novelist (and Guardian columnist) Lionel Shriver, an American, takes the British to task for their obsession with house prices and property porn TV shows, pointing out the fact missed by the majority that, if your house has risen in value to "several bazillion pounds", then so have everyone else's.

Posted by Muswell Hillbilly @ 08:33 AM (543 views)
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2 Comments

1. denzil said...

Excellent article!

The only thing that will prick the property hysteria that is taken root in the UK is for a severe crash, a long painful drawn-out event that causes people to lose their BTL and their own homes and that false sense of wealth that people imagine they have gained through HPI.

Tuesday, June 13, 2006 01:56PM Report Comment
 

2. George Monsoon said...

I agree with Denzil that this article is right on the nail and I am sure most of the visitors to this site will empathise with Mr Shriver, however I don't have a desire to see people suffer. Yes, there are many people out there who are completely naive of the difference between perceived and actual wealth, Yes I have friends and family who are now drawing on their equity and enjoying those luxuries that I can only dream about.. But I can't help but feel angry towards government policy and the sham way that the housing market has been allowed to continue growing far beyond any expectations.

When the big bubble goes bang, I will be able to afford my own home at last, but at what cost? The country will be in massive recession affecting my job security and cost of living. :O(

Tuesday, June 13, 2006 03:15PM Report Comment
 

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