Tuesday, Aug 27, 2013

It doesn't have to be this way

Guardian: Home ownership: how the property dream turned into a nightmare

In this exclusive extract from his book, The Default Line, the economics editor for Channel 4 News traces the origins of the housing bubble and argues that we're condemning a whole generation to paying absurd prices for what is a basic human need – and it doesn't have to be this way.
... "The most dangerous financial product in the world," he paused a moment for effect, "is the mortgage."
... The mortgage: from the Old French words mort and gage. Disputed translation: "death contract".

Posted by doomwatch @ 05:02 PM (1567 views)
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2 Comments

1. crash bandicoot said...

Did one of you hack the Guardian website or is this just typical bank holiday silliness that will disappear once the chief editor returns?

Tuesday, August 27, 2013 10:21PM Report Comment
 

2. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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