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This is to me What the news of Peal harbour was to Churchill:-
http://www.telegraph.co.uk/finance/p...-property.html
When Labour came to power in 1997 Blair & Brown decied to juice the market, they set out for a house bubble......apart from keeping loans cheap they used something new BTL. Buy to let was a lerverged ponzi scam of centry.....any scumbag could walk of the street & get loans to buy houses etc....thus reducing surplie & driving up prices........things reached such a point that 1st time buyers (layer 1 in the primid scam) could no longer buy......
Normaly this would be the end of the game & prices would crash.......but the BOE has done EVERYTHING possable to keep the dam from bursting............but at last it looks like we might be there.....
http://www.telegraph.co.uk/finance/p...-property.html
When Labour came to power in 1997 Blair & Brown decied to juice the market, they set out for a house bubble......apart from keeping loans cheap they used something new BTL. Buy to let was a lerverged ponzi scam of centry.....any scumbag could walk of the street & get loans to buy houses etc....thus reducing surplie & driving up prices........things reached such a point that 1st time buyers (layer 1 in the primid scam) could no longer buy......
Normaly this would be the end of the game & prices would crash.......but the BOE has done EVERYTHING possable to keep the dam from bursting............but at last it looks like we might be there.....