According to experts in the UK, we are in the face of a resplendent, resurgent housing market. The glorious forecast predicts a strong housing market recovery with mortgage finance becoming more readily available.
And so the hysteria ensues. National house price growth this year alone will reportedly increase from six per cent to eight per cent, with prices expected to rise by 25 per cent to 30 per cent over the next five years.
If ever there was an optimistic outlook.
Apparently we are unwilling to learn from previous mistakes. It appears one cataclysmic property boom was not enough to deter us from trying to destroy the economy again.
The purchase and sale of overpriced houses to each other already led to a shattering downfall.
Therefore, it doesn’t take a great amount of foresight to predict the result of this new momentum.
One can only conclude that the ‘official’ figures deployed simply serve the purpose of painting a falsely rosy picture of the country pieced together by hard working government spin-doctors. Only to be reiterated by newspapers and newsreaders.
Apparently we are nation of wealthy twenty-somethings with wads of disposable income, hence the demand in over priced housing.
With new research showing that three-quarters of university graduates will still be paying off student loans in their 50s, one can only wonder where this extra dispensable income is being generated from.
The housing myth is indeed that…just a myth.
We’ve see this story play out before.
Hasn’t hindsight taught us anything?