Wednesday, March 3, 2010

Two negatives do not equal a positive

Kids milk 'bank of mum & dad' for debt help

Young people, struggling to get jobs in the aftermath of recession, are having to rely on their parents more than ever to make ends meet, according to an annual report from Scottish Widows Savings and Investments.

Posted by dill @ 08:34 PM (977 views)
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2 thoughts on “Two negatives do not equal a positive

  • mark wadsworth says:

    As I have said elsewhere recently…

    The Home-Owner-Ists first try to eat their young, then they choke on them, and then they both go down together, taking us with them.

    And:

    That’s the hidden agenda of Home-Owner-Ism – to reduce the number of homeowners, to subsidise existing housing “wealth” and to concentrate it into an ever smaller number of hands. And it would appear to be succeeding.

    Not much more to add, really.

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  • @mw

    The trouble is that this is all inherently deflationary for property as an individual asset class. Add the effect of downsizers spending equity as capital outflow ie abroad etc, then gradually the wealth store in bricks and mortar slides. I’ve thought long on this and, though I agree with the contention that the agenda is to retain the price until fundamentals ‘catch up’, I don’t see how it can be done – unless the country’s housing stock is sold off to foreign interests in collusion with political and banking interests, or the game is corruptly rigged. Even in that case, there would be social ramifications. The whole thing is very messy and also, now, very dirty. I’m beginning to wonder what will come out with the washing, if integrity and fairness aren’t restored.

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