Monday, September 27, 2010
Ten per cent of homeowners are stupid – official
"According to a survey conducted by the National Housing Federation, 34% of middle class parents with kids aged between 20 and 30 would like to see house prices stabilise, while 28% would rather see values fall in real terms... The research also revealed that 82% of middle class parents want more pressure on the banks to help first-time buyers, for example by increasing the availability of high loan-to-value mortgage loans." OK, 28% are smart enough to realise that falling prices is a better way of getting their kids into homeownership, so 72% don't. But 82% per cent want more reckless lending to keep the bubble going. By subtraction, 10% haven't really thought this through, have they?