Enough with that f*cking term.
"Housing Ponzi Scheme"
"Housing Scam"
"Realtor Pump and Dump"
Should I go on?
Property Ladder. Gotta get on the Property Ladder.
Man, that term, from the first time I heard it, makes me furious. A term promoted by housing porn TV, the estate agent cabal, and the monkey at the top, Gordon Brown.
Here's a message for would-be UK homebuyers, feeling pressured by the MSM and their peers to 'get on the housing ladder", or they'll "be priced out forever" with this "can't lose investment"
ARE YOU F*CKING INSANE?
DON'T EVEN THINK OF BUYING ONE OF THESE OVERPRICED DEBT-TRAPS. YOU'LL LOSE SIGNIFICANT MONEY EVERY MONTH IF YOU EVER TRIED TO RENT IT OUT. YOU'LL BE TRAPPED TO THAT LOCATION, WHEN YOU'LL HAVE TO LIKELY MOVE FOR YOUR NEXT JOB. AND PAYING £400,000 FOR A 1-BEDROOM FLAT IS ONLY FOR THE FOOLS.
It was all one big, glorious scam.
It wasn't a Property Ladder.
It was just a scam. Pure and simple.
And now it's over.
And check out this classic 2006 scam enablement housing porn video
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11 comments:
How long before prices are affordable? Still a ways to go I bet.
There should be a game called "Housing Snakes and Ladders"
I read last week they're renaming the housing porn show "Housing Ladder" here as "Housing Snakes and Ladders"
True story.
And watch the [scum] estate agents make money on the way up, and then on the way down.
Ladders also go DOWN, don't they? I've seen 'em leading into the sewer. Now THERE'S your "housing ladder"...
"They're prepared to let us borrow more, much more..."
Need more schooling, vacation, a house, a root canal? Debt It, the solution to your financial predicament!™
And I was hopping this craziness wouldn't infect other countries. F this!
I don't think we're going to learn anything from this collapse. Business as usual. History keeps repeating itself.
I would not live anyplace in rotten Europe even if they pay me with the Queens jewels.
I don't know why people even bother to buy a home. It's so much better to rent and be flexible. I can't count the times I have moved into a new home and days/weeks/months later wished I was somewhere else. The new neighbor was a pain in the ass, expensive repairs popped up, I changed jobs, whatever. I rent now and am thrilled to be so carefree. I may never buy a house again. I can't think of a good reason to do so.
Then of course there is the EASYJET crowd that bought places in Spain, and Sardinia. . .poof! there goes Spain. . .there are likely less people at Lutton Shopping Center (opps I mean airport) these days. Everytime I took a flight form Lutton to Malaga, all I heard was REAL ESTATE!
How about "mobility ladder"?
I'm thinking self-contained Class A motorhome, big enough for comfort yet lean enough to survive for weeks on end without infrastructure.
How long before prices are affordable? Still a ways to go I bet.
If by 'affordable' you mean that house prices will drop, then the answer is... never.
The currency will be devalued until it costs 50 bucks a gallon. That way a $500,000 morgate won't look as expensive (Only 10,000 gallons vs 100,000 gallons today).
The problem is that your salary will stay the same as prices go up.
I'm waiting for Britain to follow in Iceland's footsteps... maybe then the rest of the planet will wake up.
Mr.X
did they not count house price inflation as inflation there in order to scam and rip off the savers saved value and not recompense them? scam..scam!!!!!
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