Sunday, March 15, 2009
Finally Someone Speaking Of Even 4x’s Income As Irresponsible Lending
Is this the week that the UK finally wakes up to the FACT that we cannot afford to support an inflated property bubble? Is this the week that the UK finally wakes up to the FACT that trying to do so broke the banks and led to the current crisis? Is this the week that the good people of the UK accept that ensuring that property prices stay in line with wages is not such a stupid idea? Is this the week that the UK finally realises that you can't blame the government for the banks going broke trying to support property prices that had been allowed to increase 190% in a decade (US prices only went up 75% and are down nearly 50%), whilst also believing now the government are being irresponsible not FORCING lenders to go back to irresponsible lending. Let's hope so.