It's nice to be out of the UK for a bit - I swear every bloody program on TV there is "housing ladder" and "flip this house" and assorted other housing porn.
Late last year, you could feel the panic. Panic to get on the "housing ladder" or forever be priced out of the market.
Stories about kids and strangers teaming up to buy, four to a flat. Stories about 125% loan-to-value loans. Stories about 5-times income lending. Stories about couples who had no money left over after paying their mortgages.
And I think we all know what's coming next for the Brits - A historic real estate crash that will make the US's housing crash seem like a Sunday tea party.
The UK housing crash of 2008 - 2015 will be one of the largest financial collapses in recorded human history. And it won't stop at the UK's borders - with property-mad Brit spreading their housing ponzi scheme cancer throughout the EU, this crash will take us so many places you'll be amazed. Spain, Bulgaria, Lithuania, Portugal, Slovakia, Ireland and more... Wherever the Brits went, a crash will follow.
Enjoy this in-depth video from Panorama, and enjoy the UK taking over from the US as the failed housing gambler capital of the world.
Late last year, you could feel the panic. Panic to get on the "housing ladder" or forever be priced out of the market.
Stories about kids and strangers teaming up to buy, four to a flat. Stories about 125% loan-to-value loans. Stories about 5-times income lending. Stories about couples who had no money left over after paying their mortgages.
And I think we all know what's coming next for the Brits - A historic real estate crash that will make the US's housing crash seem like a Sunday tea party.
The UK housing crash of 2008 - 2015 will be one of the largest financial collapses in recorded human history. And it won't stop at the UK's borders - with property-mad Brit spreading their housing ponzi scheme cancer throughout the EU, this crash will take us so many places you'll be amazed. Spain, Bulgaria, Lithuania, Portugal, Slovakia, Ireland and more... Wherever the Brits went, a crash will follow.
Enjoy this in-depth video from Panorama, and enjoy the UK taking over from the US as the failed housing gambler capital of the world.
9 comments:
Any ideas on how an America shorts UK and Euro housing?
Woman:
"Does it surprise you that I paid over 200k for this place"
New Owner:
"It does - it does."
What he's thinking:
"It amazes me that anyone could be that stupid..."
Ireland too? About bloody time! The days of 5xSalary are a distant memory in the Dublin area.
The buy-to-let bubble has some way to go here, however, what with the huge number of Eastern Europeans over here - I don't know how they make any money to send home, unless they're shacking up 5-to-a room...
They should play this episode after every episode of Housing Ladder
RE: And I think we all know what's coming next for the Brits - A historic real estate crash that will make the US's housing crash seem like a Sunday tea party.
There'll always be an England!
...as long as there's a USA.
So far, the first statement has held true. It's the second part that doesn't look like a sure thing right now.
V.L.
I am an American living in Poland and I have been watching the housing debacle unfold. It is doing the same thing on this side of the Atlantic. The UK is going to fall hard and when they do, a lot of those Eastern Europeans are going to come back home. There are more than a million Polish people working in the UK and Ireland. They work there because they undercut the wages of the British yet make more money than they would here. Plus the unemployment rate is higher here. Once the economy tanks in the UK, those Poles will probably have to return home to high unemployment, etc.
By the way, prices have peaked here as well.
Gun Capital of England???
How can that be? They outlawed ALL guns (including BB guns) to all of the subjects. The place should be crime free...
Marky Mark
marky, you are falling into their trap. why do you incorrectly equate guns with crime? you brainwashed little twit?
Interesting. The woman from the article said she owes the bank 100,000 pounds.
Do banks over there go after people unlike over here?
Bill
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