Anyone with an … Anyone with an ounce of sense could see house prices were over heating. The only question was – when? But the parasitic predatory Mortgage lenders in the USA, and speculators everywhere (Buy to Let, etc.) thought “we just carry on”. Then, as most of them did, vanish with the loot. Governments would bail out the Banks, who could not be risked to fail. Its what is called Capitalism. A variation on Pyramid Selling.
The UK’s housing bubble is bursting…
September 7th, 2010 at 9:38 am
Anyone with an …
Anyone with an ounce of sense could see house prices were over heating. The only question was – when? But the parasitic predatory Mortgage lenders in the USA, and speculators everywhere (Buy to Let, etc.) thought “we just carry on”. Then, as most of them did, vanish with the loot. Governments would bail out the Banks, who could not be risked to fail. Its what is called Capitalism. A variation on Pyramid Selling.