Wednesday, April 1, 2015

If we don’t know how the problem started, how are we ever supposed to find a solution

What actually started the housing crisis?

"...As MPs go, I like Emma a lot – she has a vitality and openness that I hadn’t experienced before. But when we were discussing the housing crisis, her answers were sympathetic but not empathetic and often convoluted – and every response was a grey area or an excuse..."

Posted by debtserf @ 09:57 PM (4194 views)
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3 thoughts on “If we don’t know how the problem started, how are we ever supposed to find a solution

  • If we’re looking for root causes I think the deregulation of financial markets in the 1980s (the big bang) has a lot to answer for.
    Prior to that most people had to go to a building society to get finance which was limited to about 3 times annual earnings, and because they only lent out money that other people had put on deposit they couldn’t offer very low interest rates. When that system was changed and more money became available at cheaper rates, this led to inflation. There have been bubbles and crashes since then of course but this is normal. (The same sort of thing happened in other countries to greater of lesser extent e.g. USA).
    That’s what I would have said anyway.

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  • clockslinger says:

    Easy money and neo liberal economics.
    Next question?

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  • clockslinger says:

    Oh, and the answer is easy money in case you didn’t know.

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