Monday, April 11, 2011

An HPC axiom from Henry Pryor

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The housing market today looks like one giant Ponzi scheme to me with buyers still being encouraged that prices are a one way bet. If you give the average 1st time buyer an extra £5k via one of the latest crazy ‘Councils-to-help-1st-time-buyer’ schemes all they will do is give it to a developer or home owner with an over-priced house. This may be good news for estate agents and sellers but the problem isn’t that buyers can’t borrow enough money, it’s that houses are too expensive.

Posted by dill @ 06:03 PM (1238 views)
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One thought on “An HPC axiom from Henry Pryor

  • This also sounds rather like QE, by the BoE and the Fed, for government debt, and where all the other hot money is sloshing e.g. commodities; thus higher prices for fuel, food, and other goods, with only the financial ‘industry’ benefiting, but with everyone else not in commodities suffering!

    To put it more bluntly, government is a Ponzi scheme, in all aspects; it’s about time this was faced, and something done about it.

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