UK Housing Bubble - Honey I Shrunk the Equity

[Yahweigh]

I am young and so is my friend, neither of us will get a mortgage because the houses cost so much and if we wanted to sell a house, we would have trouble finding anyone who will buy it for more.

Houses are supposed to be homes, not every increasing comodoties.

[arfurlife]

@Yahweigh I feel so sorry for you young people. You deserve better than this. Your country and politicians and especially bankers have betrayed you all on an appalling scale. To think this all happened under new Labour is sickening and revolting. They are ssupposed to help ordinary people. They screwed hard workers and rewarded benefit cheats and greedy bankers. There is still vast wealth in the UK but do not expect any help from those with money. They want more, you can burn.

[gunsandroses1111]

Anyone with an ounce of sense could see house prices were over heating. The only question was - when? But the parasitic predatory Mortgage lenders in the USA, and speculators everywhere (Buy to Let, etc.) thought "we just carry on". Then, as most of them did, vanish with the loot. Governments would bail out the Banks, who could not be risked to fail. Its what is called Capitalism. A variation on Pyramid Selling.

[arfurlife]

@gunsandroses1111 Well said. And this is the wonderfull blessed 'democracy' we send young children away to fight wars over. No wonder Iran and Afganistan aint too keen to embrace our greedy values. Politicians control nothing anymore..if they ever did. Its banks and property developers and corperations. They aint elected but they have the real power. Western democracy?What a sick sick joke and vile con. We are all so enslaved now economically its very depressing indeed.