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Possible Bankruptcy But Have Property Portfolio??

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Richard_S Posts: 4,432 Forumite

10 December 2008 at 7:28PM

The only country with a higher percentage of home ownership than the U.K is Bangladesh, and everybody will draw a different conclusion from that fact.:rolleyes: :rolleyes:

What is beyond argument is that home ownership in this country makes the workforce immobile, and that is a bad thing for individuals as well as the country as a whole. What we need is affordable housing both to rent and purchase.

BTL has distorted the market to some extent, but you can't blame individuals for taking advantage of the opportunity to make money. We live in a capitalist democracy and there has to be significant rewards for those that are prepared to risk their capital and reputations in the pursuit of profit.

The big mistake that politicians are making at the moment is to stick their ignorant snouts into the housing market in a hopeless attempt to prop up the sector. Prices should be allowed to fall to whatever level the market dictates. That would be painful for lots of people, but the problems we're creating for the future are going to be horrendous by comparison.

Richard

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Possible Bankruptcy But Have Property Portfolio??

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