Thursday, March 20, 2008
Financial lies of our time
Sixteen of the biggest, fattest porkies
My favourite at number "10. The UK is suffering a housing shortage"
Posted by happyrenterz @ 03:21 PM (1032 views)
5 thoughts on “Financial lies of our time”
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paul says:
Good finder renterz. Someone had to say it – there never was a real shortage of housing the in the UK.
hpwatcher says:
Well, there definitely isn’t a shortage now. #
There was only a shortage in as much as absolutely anybody could borrow whatever they wanted, and buy as many houses as they liked, because they thought it was a sure bet that they would go up in price.
Bobsta says:
No.2 is up there too… “Inflation is 2 per cent”
planning4acrash says:
Well. The shortage thing has some half truths. London has affordable housing need, some cities had a lack of small apartments, family houses subdivided to compensate, some areas will always have shortage. But it was overplayed by vested interests.
European-bear says:
I also like 7 the Swiss are prudent (as I live in Zurich). Trying to get a mortgage in Switzerland is not that easy. You need a minimum of 20% deposit and must prove income. Very prudent and sensible……And hence the housing marked in Switzerland is very stable…
But then the major Swiss banks such as UBS and Credit Suisse have brought loads of mortgage backed securites from the Americans….and lost billions…..if only they had exercised the same prudence as they have in their own back garden…