Sunday, May 18, 2008

The Fruit of Greed

Is Britain's love affair with the property market finally over?

The “fishing stories” about houses you wish you’d bought, the buy-to-let plans, the fantasies of gains on foreign properties – these conversations diminish as the mood becomes more chastening. Meanwhile, the people facing repossession – and perhaps also the general public – have learnt the value of suspicion. “Don’t trust banks an inch,” says Sir Charles Wolseley. “They’ll force lending on you in fine weather and claw it back when it’s stormy.”

Posted by quiet guy @ 02:14 AM (757 views)
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4 thoughts on “The Fruit of Greed

  • An article of more substance from the Times. One comment tells our this site saved her from an expensive house purchase in 2004.

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  • This Times reader’s comment under “Have your say” is the most accurate,

    “At last the media and other property cheerleaders are beginning to admit the boom was nothing but a gigantic pyramid scheme which is now unravelling.”

    Spot on.

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  • I agree
    good analysis in the Times, for a change

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  • The UK would benefit hugely by looking at property in context of a property being a home and not something to make vasts sums of money from.

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