Sunday, November 7, 2010

Reviewing the situation

Home ownership is an impossible dream – so why worry?

"I'm becoming less and less interested in buying into the British obsession with owning property" - Mic Wright, 26 year old 'freelance' writer.

Posted by dill @ 08:18 AM (1926 views)
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10 thoughts on “Reviewing the situation

  • This chap seems to have missed the wider picture.

    1. The root cause of the current parlous state of the economy and housing market (which are one and the same).

    2. While his reasoning that young people should not worry appears sound, it ignores the fact that young people are bearing the brunt of the effects of 1. with unemployment, soaring student debt, high inflation and disincentivised savings regimes.

    3. The inequity of the current situation where the interests of the many (property poor) are being subjugated to the interests of the older property rich cannot be overemphasised and needs a mention.

    4. Incompetence on the part of central bankers, investment banks, regulators and politicians got us here and a future of austerity and controlled debt deflation await – we are now doomed to repeat the mistakes Japan made 20 years ago!

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  • mark wadsworth says:

    What Paul says.

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  • ditto.

    So how do we make ourselves heard?

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  • Are there even enough people with a gripe to make themselves/ourselves loud enough to be heard? I suspect there are far more people either happy enough to maintain their unrealised and unrealistic paper wealth, or enough people scared of nequity and loosing their lot. It’s a shame the prudent and savy have to pay for the inadequancies of others. Negligence and greed from both borrowers and lenders. So why are they not paying for their mistakes?

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  • Haven’t read the article but the comments seem to sum up the overall picture nicely.

    Does anyone know the percentages of people in net debt vs people with positive savings / pensions etc? And whether the country has a majority that should be rioting?

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  • Mark there are many with similar views. Unfortunately our media is owned by VIs & many Journalists & Editors have BTL portfolios as large as those owned by MPs. Our political masters are beginning to attract some scrutiny and perhaps one day Journalists will have to declare their interests. In the meantime I recommend an Email to Press Complaints each and every time VIs are invited by the BBC to spew their propaganda devoid of any critical analysis or challenge.

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  • Nothing is impossible….

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  • So how do we make ourselves heard?

    I don’t think there is a way of ‘making yourself heard’ outside the conventional means of taking up the media and politicians when they tell barefaced lies like ‘the problem with the housing market is not that houses are too expensive but that credit is not cheap enough’.

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  • Too much VI, – Banks, Media, Industry, individuals, etc… etc… the list goes on. Those with the power to voice disapproval are in it themselves, up to their necks. So where will the peoples champion come from? I thought Vince Cable was going to step up and fill those boots, but never mind.

    A change of consciousness is what’s required, but it has to be driven by those in power. Otherwise….. George Orwell 30yrs out perhaps. I feel a 2 minute hate coming on again! Just going to shout at the TV….

    Merging state defences – Oceania here we come!

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  • You could always start a Facebook campaign or a Downing Street petition, LOL!
    The only way is to go European and bring the county to a halt with protests. I wonder if they bother with stupid online petitions?

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