FT.com / UK / Business - Lenders warn of mortgage shortages: "“We are not suggesting that government pour vodka in the punch bowl,” he said. “We are asking how government can get the patient to sober up without too much shock therapy.”"
If house prices dropped by 50% would that halve the 'demand' for mortgages? If planning laws were relaxed so that people could build houses on their own land more easily would that more than halve the price of land?
If bankers took a pay cut or just shelved the pay increases, the bonuses and pension benefits would that reduce their costs? And ours too??
Bankers must realise soon that the taxpayer is propping up their ivory towers or else we will all be doomed when the property market collapses.
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