Quote:
Originally Posted by Barnet Flame
Well I'm not living in Bishop's Avenue myself, but I can see beyond the limited level of influence an individual has on the market.
The banks don't have a limited level of influence - they're lending policies have greatly influenced the property market. Here in the UK, the standard policy used to be that you could borrow up to 3x the main wage earner's salary plus 1x a partner's salary.
Had that policy been maintained you would not have had such a ridiculous overheated housing market.
And for the others that say - rent, I'd agree with that - if the rental sector was economic and didn't mean you had to live in a cesspit if you wanted affordability which is the case here.
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I 'm not familiar with bank lending in the UK, but was this a regulatory policy where banks
couldn't lend on terms easier than that or was that a formal regulation by a governing body?
If regulatory then I think demanding your pound of flesh from bankers is misguided and your anger should actually be squared right on politicians.