Good opinion/editorial from UK reader on the now exposed UK Ponzi scheme

I travel back and forth between UK and US and will be moving over to the UK this January - and I can tell you, boy, if you think US has a bubble, you should see UK - $1 Million 2 bedroom condos are common, but which rent for $2000 per month (that's high, but nowhere covering the cost of ownership).

That market is going to collapse. Not adjust. Not even out. It will collapse. Why? Because investors can't invest if they can't get a return, and they'll pull out - folks who own rental property losing their shirt every month, and folks who bought hoping to get a value increase.

It's especially to see bubbles in Europe, where population is DECLINING, wages are DECLINING and future prospects are doubtful at best as these Western European economies collapse on their heavy-entitlement, heavily-taxed, anti-business selves.

Here's highlights:

I hope in this rather lengthy post to destroy, or at least challenge, several 'myths' about the UK housing market and property in general. Given the UK's well-known obsession with the asset class (thanks in no small part to ubiquitous media hyping), there are times when I feel like a modern version of those radicals who challenged the assumption that the world was flat.

The myths as I see them are as follows:

1. "You can't go wrong investing in property - house prices always rise."
2. "Renting is dead money"
3. "House prices can't fall - the Bank of England won't allow it"
4. "House prices will at worst flatten out - they won't fall in nominal terms"
5. "House prices won't fall in the absence of an increase in interest rates"
6. "Affordability is the key determinant of value, not multiples of income or rental yields"
7. "House prices will stay high because of demand and supply factors"
8. "House prices have already begun rising again - the Halifax and Nationwide say so."