House prices and debt

[glenn_uk]

Comrades,

We have something of a problem with house prices right now in
the UK. They continue to rise by 10-20% per year, and in some
areas, 20-40%.

This is a serious problem for people moving out of the UK for a few
years... they move out, then find just two or three years later that
it's impossible to move back. The money they sold their place for
is _half_ what they need to return to the same place, if they were
away for 5 years.

And that's in the quiet spots. Some "hot" areas now, including
Wales and some places up north, have doubled just in two years.

Any would-be speculator can only wonder how much property
they can lay their hands on now, before the bubble bursts. But
when will it burst? We've been expecting it for several years now,
yet prices still storm ahead.

Sad to hear, but this is a trend which seems to be catching on
in America. Watch yourselves... many British have been burned.

My latest article is finally up (thanks for fixing the site, Nathan!),
and discusses some of this.

-GB