Quote:
Originally Posted by Damien
Yes I think tax too although I think this also highlights how unfit for purpose our current housing market is as well.
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The housing market bubble will burst again just like it always does but people are being given mixed messages. On the one hand they're being encouraged to save (eg ISAs & pensions) but on the other and the returns they get for so doing are miniscule unless they invest in bricks and mortar or stock market related products which are also risky. Personal debt is also being allowed to mushroom to keep the economy growing - IIRC more new cars were registered in the UK than ever before and the highest ever proportion being financed.
As a decent parent, the main thing you save for is your children's future and when that is discouraged the big losers will be the children who not only have to pay more for everything along the way but will get less back and probably won't inherit a bean either. The good news for an increasing number of them will be. however, that they'll have far less assets for HMG to take off them as they get old and prepare to meet their maker...
