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stevewo

Location:Medway, GB
Age: 60
Gender: male
In a few words: victor meldrew

ITS A MUGS GAME

Published: Tuesday June 10,2008 by stevewo

Buying into an over-priced property market is a mugs game.
When is it over-priced?
When the price as a multiple of income is way too high.
With houses at an average of nearly £200k, that means nearly 8 times average income.
That is a guaranteed crash.
The banks know it.
The government knows it.
Still they did nothing, because it made them popular, and big bonuses.
Many young people are going to suffer, and will feel conned by banks, agents, property porn programmes and government.
Who can blame them if they throw the keys back, and who's running this country...Sooty and Sweep?

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