Friday, January 21, 2011

It’s all an ILLUSION

UK house prices ruining UK economy (20Jan11)

Houses are to live in...

Posted by happy mondays @ 10:04 AM (2990 views)
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6 thoughts on “It’s all an ILLUSION

  • This is a follow up to yesterdays post by ontheotherhand @ 01:25 PM – “No wealth has been created. It is an illusion” but has a bit more meat on the bones with input by Andrew Neil – well worth a watch.

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  • There will be another vacant house when that obese turd drops dead with a heart attack shortly.

    Perhaps cutting the NHS budget is the best way to get house prices down?

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  • I won’t be using youtube again, if they are now forcing you to link your youtube account with a google account
    just to sign in & comment.

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  • Andrews hair gets thicker by the day, he’ll have dreadlocks by this time next year.

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  • ontheotherhand says:

    She was a weak commentator. She just said there are other investments out there, but should have said the preferential tax treatment of a home is distortionary, and it causes people to bet all their future income on an asset that doesn’t produce any growth for the UK or any net wealth.

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  • @otoh, it should have said ’caused people to bet all their future income on an asset’. My point is that the young (including myself) are getting wise to this scam and fewer are buying into it. The pyramid scam is falling down like a pack of khards :-). But on another note there is damage being caused to the economy as a result of this housing problem. For sure, there are fewer people who are able to move to more expensive areas because of the high housing costs. This must translate into serious skill shortgages in some towns/cities.

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