WWW, in a gesture, simply
I'm glad I'm not the only one to have seen all this coming. I sold all my BTL's last year, as I felt then it was in the wind, seems I wasn't wrong. Better a year too early, than a day too late.
Credit is going to get a LOT harder to come by in the coming months, and that will be felt hardest by those who, due to youth, were considered to be a poor credit risk pre credit boom. Anyone else remember those banking practices? Those will be the one's coming back into vogue.
After ten years of Labour endorsed lending though, there are an awful lot of young people who have never seen a recession (it's coming, and it's a biggy), can't imagine what it brings, and aren't used to being told 'No' for anything. Far less a loan to go and fund learning to fly.
The greatest trick the Devil (Brown) ever pulled, was convincing people that they were getting richer when they were actually getting far, far poorer.
A Potemkin Economy indeed. One built on debt, with no substance nor foundation. Interesting times ahead and you can take
THAT to the bank.