I am a selfish person.
Damned if I know these media people. I can remember last year these very guys were screaming about, how much the house prices are going up and young people, the first time buyers are still at their parents houses at the age of 30.
Now they are screaming that the house prices has going down. And on and on... It is like weather init? When it is cold they complain about it. When it is hot.... I wish they talk about some interesting news like hmmmm...weather.
Seriously the homeowner in UK pays a majority of the earnings as morgage payments. When the wages become stagnant or the prices of other needy commodities go up, and at the same time the bloody banks try to recoup the money they lost in the sub-prime mortgage saga, and increase the interest on the loans. Then no one wants to get involved in mortgages init? Now if I am the house buyer I will go to a cooperative as they do in Germany where the mortgage is 20% instead of 40%. Where do I get these information. Read.
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