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    Default House price falls in 2008.....


    .... more than double those of the 1990s.

    2008 will go into the record books as the year house prices fell at their fastest rate, with prices dropping over the year at more that double the pace of the previous record fall in 1992. read more

    What makes me furious, is that we were told by succesive goverments that buying your house was the right thing to do for our futures and retirement. It really made my blood boil because this is causing real heartbreak and suffering for many families, all of whom aren't responsible for the situation we find ourselves in at the moment.

    Have we all been taken for a ride by greedy bankers and politicians?

    What do you think?


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    Season ticket holder amestaper's Avatar
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    Angry

    Taken for a ride and bent over. I trust my own judgement!

    I saw a comment in the Edinburgh Evening News tonight stating that there are no rented council houses available for any of tens of thousands of people who could possibly lose their homes due to the recession. It ends with the quote "No current recession can be blamed for a halt on building council houses for two decades by any government". This is incompetency of the highest order by elected politicians as I am not talking about a specific town or region, but the whole country of Scotland!

    What about potential first time buyers trying to get a foot on the property ladder? Unless salaries increase and house prices come down to more affordable levels, what chance do they have of ever getting a mortgage? And why would they want to throw their hard earned money away on a possible bad investment in a market that is obviously not performing like it was a few years ago.

    My simple brain can't begin to compute a solution to this mess. I only understand that there are millions unemployed, money is scarce and there's a massive shortage in affordable housing.

    Iím no expert, but keep a stash of cash aside to make sure your mortgage gets paid.

    Does it look like the balls well and truly burst?

    Iím not so sure because after this recession is over, a hell of a lot of new housing is needing to be built.
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