Sunday, June 8, 2008

Cover story, can’t miss it in your local newsagents!

Don't buy a house!

"As Britain wakes up to the nightmare of negative equity, we are facing a housing recession far worse than that of the early 1990s. Iain Macwhirter has a warning: don't buy a house now, at any price. Just say no. You have been warned." Ok here's the plan: everybody go down to your local newsagents, and when nobody's looking just rearrange all the magazines and put this one at the front of every stack. If we spread the word, people will stop buying houses and prices will fall faster.

Posted by drewster @ 07:15 PM (1862 views)
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20 thoughts on “Cover story, can’t miss it in your local newsagents!

  • i-cld-murder-a-blt says:

    Very good, probably the best read I have had in ages. Expertly written.

    Cuts out the bull, the masses should take note.

    Thanks for posting.

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  • gardeniadotnet says:

    Looks to be an excellent article. Its length dictated that I save it to Google Docs for future delectation.

    What struck me most, however, was the puerile level of interaction in the comments.

    You get a FAR higher standard of Flaming on this site!

    Gardenia.net

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  • Truly excellent piece of work. Made my day.

    Drewster – Need to pop in to the papershop tomorrow AM for some fags – will try and rearrange the mags.

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  • Outstanding article.

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  • A good piece, and quite insightful. He gets a small number of facts and stats wrong, but none of great consequence.

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  • mark wadsworth says:

    I am sure that Ian McW, despite being a leftie, has spoken in favour of Land Value Tax before, so good luck to him. What would be cool is a follow up article headed “Sell Your House! Now!”

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  • Mc Whirter’s earlier New Statesman piece from Ist May “Everything you want to know about the bank crisis ” is also good.He mentions fractional reserve banking without going overboard into conspiracy theories too.

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  • gone-to-colombia says:

    Quite the best essay I’ve read upon HPC.

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  • i am flying out of stansted tommorow on business,i will make sure i pick up a copy of this (It will be good to leave around the house when i have visitors) and also try and re-arrange the display in w.h.smiths.There must thousands passing through there each day.

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  • gardeniadotnet says:

    MW I am sure that Ian McW, despite being a leftie….

    This has gone well beyond politics, have you not realised that yet?

    Ask S2r1, ask lvm reader, ask malct, ask p4ac, ask gardeniadotnet (ahem), ask p.doff, they’ll all tell you, albeit, from different standpoints, THE OLD RULES NO LONGER APPLY!

    Ray

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  • “…Indeed, the government is still actively encouraging first-time buyers into a market that it knows is collapsing..”

    Nooooooo…. you don’t say. What a surprise!

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  • Hoorah, another loonie. Just what we needed.

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  • mark wadsworth says:

    Gardeniadotnet, this is all about politics, there is a deeply ingrained resistance in the British psyche to land value taxation, even if the quid pro quo were scrapping all other property related taxes (council tax, SDLT, inheritance tax blah blah blah) any serious economist (on left or right) will tell you LVT is the least-bad tax, but the LibLabConsensus ain’t having it (it’s only the Greens who favour it, but sadly most of their other policies are rubbish, so they’re no help).

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  • gardeniadotnet says:

    pelethar, ask me a question.

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  • Rougetrader says:

    “Suicide loans”, LOL. I can laugh now but i know that feeling only too well 🙁

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  • Er, no thanks.

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  • gardeniadotnet says:

    How will you ever learn if you don’t ask questions?

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  • No offence to you but I don’t really want to learn about cloning plants. And I certainly don’t want to learn about how “the old rules no longer apply”. People believing that is what fuelled the bubble which this whole site was set up to cover.

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  • gardeniadotnet says:

    Fair enough.

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