Well, after all the faff that we’ve had to listen to over the last few years about skyrocking house prices, it’s all finally starting to fall apart. The British public are now worried about repossessions and negative equity, and all sorts of pundits are appearing on various news clips to give their 2 cents, especially as to how to rectify this situation.
Am I surprised? No. If house prices rise then house prices will fall in the same way that if the economy booms it will eventually fall into recession. People knew damn well that this would happen eventually so it shouldn’t really be a surprise. If people were willing to get mortgages that were ridiculous and banks were willing to issue them, then no matter which party is at fault there’s still somebody there to blame. I feel for some people that have ended up in a situation that’s going to get worse before it gets better, but many people by simply playing the waiting game might’ve avoided what looks like a dark and cloudy financial outcast this year.