Tuesday, September 18, 2007

“The banks have been lending to amateur people who are investing on the basis that house prices will only ever rise”

Buy-to-Let is UK's bubble: N Rock is the needle

Reuters journalist tells it like it is on BTL: fave quote - "Almost unbelievably, many buy-to-let investors have bought property as an alternative to a pension plan. While surely property belongs in all pensions, the idea that a highly leveraged, totally undiversified asset should be relied upon for old age support is, well, aggressive." Yes, aggressive is one word - the world "insane" also springs to mind...

Posted by an bearin bui @ 07:14 PM (421 views)
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