Home ownership1 May 2018 09:36
I can't help thinking that the last financial crash was an opportunity for the already wealthy to to wrap their filthy mits around the home market.
You have had millions renting paying more than they would for a mortgage but banks tightening lending criteria while other monetary policy has been loose. Now they can't loosen lending criteria as monetary policy is tightening.
I don't believe this was a mistake, I believe it's by design. Just another way for the rich to tighten their grip on everyone else. They're evening squeezing the buy to let crowd who have 1 extra property as a pension provision.
What happens next, those who've managed to save & bought will get screwed with no guarantee that the situation will improve but the funds will be buying up cheap properties again.
The social contract has been broken by capitalists.