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Debate House Prices


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5k+ homes bought with HTB1 in 6 months

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Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    TruckerT wrote: »
    As you know, I am no more expert or knowledgeable about these things than anybody else, but I have only ever seen three opinions that the worldwide banking crisis was not the result of a western property bubble. Yours, Clapton's and Stephanie Flanders'.

    TruckerT...

    I don't think anyone has said "western".

    But "British", absolutely not.

    UK house prices has precisely nothing to do with the global banking crisis, and defaults on UK residential mortgage lending did not bring down the banks.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • TruckerT
    TruckerT Posts: 1,714 Forumite
    HAMISH_MCTAVISH wrote: »
    defaults on UK residential mortgage lending did not bring down the banks


    I agree. The defaults were 'bank on bank' - mortgage-payers were duped into believing that the property market would never fail.


    WorldWide!


    TruckerT
    According to Clapton, I am a totally ignorant idiot.
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