Author: Anthea » Thu Jun 16, 2016 2:36 pm
Londoner wrote:This is not like the usual house price drop to help house buyers. This is different. It makes house owners worse and house buyers worst. House buyers can not buy and house owners can not sell. But a lot of property companies enter the market to buy property at cheap prices. A lot of people lose their jobs and businesses and became unable to pay their mortgages. their houses get auctioned to recover the mortgages. All of it go at a negative equity price.
Your talking about negative equity such as the problems UK and several other countries faced a few years ago, due to the sale of properties to people who could not really afford repayments
Was it called sub-prime mortgages, cannot remember now, started in US
The government should have stopped the astronomical rise in house prices in south of the country
Also encouraged more trade to north
England is a mess with rising prices in South and near empty housing estates in the north
Green belt is being built on - we are losing farms - wildlife is being destroyed - parts of south turning into concrete jungle
FARMS a subject close to my heart:
UK has very strict rules on animal welfare
Our farmed animals are among the most humanly treated in the world
Because we are in the EU we have free trade and have to accept animal produce from countries with much less stringent regulations on animal husbandry
Animal cruelty is one of the best reasons to leave EU
My Name Is KURDISTAN And I Will Be FREE