Monday, September 27, 2010

Treasures from the threads - Number forty-seven

To an article in the Daily Telegraph this morning on the general crisis in Britain's housing market, linked here, comes this:
1 second ago
A three bedroom semi, with one of those bedrooms in reality a half a room, plus garage, on the outskirts of London but without the benefits of London, is in all seriousness NOT worth nearly 400 grand!! Let's be sensible; this is first time buyer property as my parents were when they bought it for £4000 in the 1955. Where are these first time buyers that can afford to buy such a house? How many have 40 grand for a 10% deposit? Which banks are daft enough or reckless enough to lend that amount? A couple would need a joint income of £144,000 to buy that. Are you lot nuts? Are you living in a dream world? Living in mainland Europe now, I am just looking at the UK and laughing at your madness. Your productivity and profitability are lagging so far behind you'll never catch up with that kind of thinking.

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