Sunday, August 30, 2009
Truthful article about reasons behind HPI
"Housing affordability is getting worse, not better," said a senior government adviser. "The reason is the requirement for a deposit. The expensive thing is not the house, but saving for a deposit." ..........no, ofcourse, silly us, all the time it was the cost of borrowing the money to buy the (in)-expensive houses, not the cost of the houses that caused everyone to borrow hugely. Brilliant politician double speak.