"Thousands in Serious Trouble" - Economic Downturn

[Squire Allworthy]

Some were buying time to get as much money out as possible. Say you saw a problem; what do you do, you smile and sell of all your own interests and then you warn associates, friends and family. You nor I have any civic duty to sound the alarm bells at any particular moment. Most of us owe no duty of care. People invest to make money and they need to carefully use their own judgement. However there were some decidedly misleading impressions created and I have to ask with some in responsible positions would it be possible to prove fraud? For if it is they should be pursued. One of the lessons that need to come out of this should be that we need to set and expect rigorous standards in the political and financial sectors.

[HP]

I agree. My point is that MB's statement that increasing house prices were due to greedy landlords hiking rents was complete rubbish.

I remember back in 2004 being the pub with 5 or 6 friends and complaining bitterly that my landlord had just whacked up the rent by 30% despite not having done a single repair or improvement in the previous 3 years. Every single person round the table could top my rent increase with one couple having their rent doubled (ameliorated somewhat by the offer of 3 months to find another gaff if they didn't like it.)

The landlords could do this because there was zero protection for tenants (unlike those other European countries like Germany etc, where there was no housing bubble).

Within a year, everyone at that table had bought their own place and in so doing helping the housing bubble.

Tumeltyni maybe you have a very short memory, or maybe this didn't happen in NI, but it sure as hell happened here.

[powderfinger]

Finally, a post which puts this current blip in perspective!

One mans blip is another mans childish nonsense .