Looks to me like the British real estate credit ponzi needs another big injection of freshly printed paper pound banknotes. Goodbye British middle class…
This was always the logical end-game for credit-infused property markets. Eventually the credit inflation would so badly outstrip average wage increases that a whole generation of people would wake up one morning and say “screw that, renting ain’t so bad.” When that happens proper, the ponzi is entering its last days…
For those thinking property is the best means to transfer your wealth across from this dispensation of financial wreckage to the next one of monetary sanity, think again…
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Looks to me like the British real estate credit ponzi needs another big injection of freshly printed paper pound banknotes. Goodbye British middle class…
This was always the logical end-game for credit-infused property markets. Eventually the credit inflation would so badly outstrip average wage increases that a whole generation of people would wake up one morning and say “screw that, renting ain’t so bad.” When that happens proper, the ponzi is entering its last days…
For those thinking property is the best means to transfer your wealth across from this dispensation of financial wreckage to the next one of monetary sanity, think again…