That is a lot of money that would have been spent in the local
Somebody should calculate the amount of money that an average family spends on a mortgage and work out how much of that would be going into the wider economy instead if we had sane house prices.Mortgages used to be 25 years, now they are 35. People who bought in the 90 had mortgages of about 400 a month, now its a grand a month. That is a lot of money that would have been spent in the local economy just vanishing into thin air.I don buy into the notion that a house costs 200k to build either, I was in a business with a local developer Moncler Outlet 12/13 years ago and his cost per foot back then was 70 for a housing estate.Bear in mind, house price growth was steady until 93.
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