Ain't had one of these for a while.

[ASB]

http://www.socialaffairsunit.org.uk/...ves/000537.php

So, we're all doomed. House price bubble = end of civilisation as we know it?

Or maybe not.

[SupremeSpod]

http://www.socialaffairsunit.org.uk/...ves/000537.php

So, we're all doomed. House price bubble = end of civilisation as we know it?

Or maybe not.

You've never had it so good!

Gordon Brown - In "Harold McMillan" mode!

[hyperD]

Great article!!! Loved this:

But didn't anyone catch even a faint whiff of inflation here? Apparently not, and just to make sure, some years ago this Labour Government took housing off the index of price fluctuations by which inflation is calculated – in other words, the passengers don't know how fast you're driving if first you smash the speedometer.

Sums up "new" Liebour to a tee.

[handsfree]

Truedat

Our Baby-Boomer greedy gits mortgaged their homes to buy second properties then mortgaged those to move up or to buy even more. This drove prices higher, forcing youngsters to pay more than they can afford in order to climb onto the so-called "property wagon". For different reasons, each became indebted to the hilt, over-mortgaged and "maxed out" on their credit cards – the Boomers out of avarice, and the kids out of cruel necessity.

True, excellent article.

[sasguru]

Rubbish ...

When you get as old as me you tend to ignore the extremes of opinion. This is probably the most bearish article I've read. The most bullish predicts moderate growth. He ignores many different factors like demographics, etc.

The truth is usually somewhere in between. I predict a max. 30% fall over the next 3 years. Which is fine if you bought a few years ago.

[John Galt]

True, excellent article.

So what you are saying is that no-one should take advantage of a good deal because others can't? Mortgage rates have always fluctuated - it is nothing new.

[stackpole]

"the Boomers out of avarice"

True, excellent article.

Avarice? It is a way of making money. Why is it avarice?

[Jabberwocky]

Avarice
An excessive desire to acquire or possess more than what one needs or deserves, especially with respect to material wealth.

Now having two homes isn't necessary and the only reason for doing so is obtaining more material wealth hence this is greed - can your feeble intellect grasp that ?

[ASB]

Avarice?

Avarice
Now having two homes isn't necessary and the only reason for doing so is obtaining more material wealth hence this is greed - can your feeble intellect grasp that ?

Balls. There are many reasons for having more than one house that are not avarice.

Further owning more than one property is one direction for saving. What you are in effect saying is that saving = avarice.

Alternatively explain why saving in the form of bricks and mortor is avarice and saving is, say a pension, or a stock portfolio isn't.

[Jabberwocky]

Nonsense. A pension makes provision for your old age. The main reason for extra houses is greed, it is not a way of saving, it is a means of exploitation. It penalises and exploits first time buyers, pushes up house prices and generates an artificial demand. It is also an abuse of our resources and morally bankrupt. It harks back to the days of the feudal system, of Lords and their manors with peasants living in straw huts.