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The British housing market situation is saved (or rather magnified) by the Eastern European influx. But the situation back there in emerging markets is no less absurd. The free market was efficient only for so long. What could alleviate the housing stresses within the same paradigm?
Home ownership certainly means freedom, and excess home ownership means belonging to an unstated higher social cast. But you have to take mortgage risks to get there - and there go massive financial dramas.
Home ownership certainly means freedom,
Indeed. And higher wages and/or purchase power.
But you have to take mortgage risks to get there..
And you must pay not only the the rental value, but also the credit interest. And destroy wealth and wages so, that low income families cannot ever get there.
low income families
Read "labour families."
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