After you are just getting over the shock of me admitting I was wrong here is another shock. I have some good news for a change! Yes house prices are continuing to fall, 10% in the last year, and it looks like they will fall even further!
This means that the greedy bastards who bought houses purely to let them back to people who can't afford to are now really starting to suffer as they deserve to. They bought these houses, with the potential profit from the house they already owned, and rented them out at exorbitant rents, taking money out of the pockets of those who can least afford it just so they could drive fancy cars and take expensive holidays.
And now they can't afford to pay back the money they borrowed and risk losing all of their properties. And they thoroughly deserve to.
Most of these people obtained their first house by exercising their right to buy and snapping up a cheap council house. This scheme was designed to let people own their own home and not for greedy selfish bastards to live the good life at the expense of people who didn't have the opportunity or money to buy a dirt cheap council house.
Lets hope that prices fall another 10% and these people find themselves having to pay exhorbitant rents themselves!
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