Lost in Translation

The Evening Standard captured the moment my gag reflex kicked in. It wasn’t the woman carrying the Olympic flame (ignoring here how being part of an invasion force makes you a heroine), or the 7,999 other torch bearers, some of whom are sharing their moment on eBay in attempt to recoup their investment. It wasn’t the ostentatious escort & support structure. It was the media-driven need for a photo-op in which there is so little faith that the picture itself is worth the traditional thousand words that IT NEEDS TO BE SPELLED OUT.

I have always thought of the housing market as being made up of two types of money, writes LuckyOne on HPC: real money and “fake” money.

The real money is what private renters and FTBs have to use. Fake money is the segment of the market that relies upon using past capital “gains”.

In my view, the divergence between the real and fake money was first seen in the collapse in rental yields.

It now appears to be moving onto the second stage where the FTBs can no longer use their real money to support prices to create even more fake money.

The process is slow but the result is inevitable : prices have to drop to a level that wipes out the fake money.

You’d think.

older little eyes