Tuesday, Nov 21, 2006

Telegraph discussion - September but not posted before

Telegraph: Should young people give up on owning a home?

The Bank of England has acknowledged that house prices have risen faster than expected so far this year, with the average cost of a home now exceeding 200,000. Is it financial prudence or collective madness for young people to plunge themselves into exorbitant levels of debt to buy a house? Any youngster with any sense should be looking at getting out of this crime infested hell hole of a country while the goings good. In years to come no one will want to live here anyway the way things are going and house prices will tumble. The creation of a new underclass, who have no hope of ever getting on the property ladder, is a direct result of Labour policies, with some assistance from Brown's "independent" Bank of England. The Baby Boomers were born at the most opportune time, have accumulated the overwhelming majority of the wealth, and are now busy pulling the ladder up behind them. This applies not just to housing but also to pensions. Shame on you boomers! To First Time Buyers: DO NOT get involved in this market...it is a ponzi-scheme built on funny money and a lies, and it will implode.

Posted by scumbag @ 05:01 PM (468 views)
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