BTL to be reviewed

Sapphire

wolvoman wrote: »

In what way is HP (and I assume you mean house prices not hire purchase) detrimental to the economy?

I would have thought that it is pretty obvious to all but those who are asleep or interested in perpetuating house price increases (HPI) why very large increases in the prices of property are detrimental to the economy. There have been many debates about this both in the press and on Internet forums. Just for a start, such rises has been achieved largely by many people taking on massive debts (often by fraudulent means), well beyond their means, which they won't be able to repay, so they will (naturally) be bailed out by the taxpayer, who will in turn also have far less money to spend.

In the United States, house prices are 'only' six times average earnings; in the UK they are nine times earnings (and don't tell me that it is different in this country, because the moneylenders and their clients have been heavily involved in the subprime pyramid scam here as well as in the US – the extent of the crisis is just being kept hidden for now).

And you think that such massive increases in house prices are a good thing for the economy? :cool:

HugoSP

Other costs in the USA are much higher than in the UK.

Have you ever tried to get a car insurance quote in the US for example?