I DO NOT LIKE RADIO 4 ALL THAT MUCH, it always seems so negative and my wife is always listening to it!!! “Come on turn it off – you like radio 4’s drone better than me – ‘ yes I do’ Says she..
Then , on that venerable station, I heard something new about mortgages – It went something like this ‘And government have decided on this policy and told the banks that people should be allowed to pay less rather than be evicted. The economy is in such a dreadful state and this allows people to keep on borrowing to keep the economy moving and it looks better this way for those in power.’
The banks do not want to take their share of responsibility for this . They have provided money for many houses in the hope of high profits and without proper research into the future of the economy.
Now, in the completely changed economic landscape, they must do as other landlords do and take the lower rents that people can afford. If they evict they will get less and lose disgruntled and disappointed customers they have helped to produce. Also there will be lots of wasted, empty and degenerating housing stock.
The signs are not good for returning to days of plenty and money wise I do not see things getting any better. The challenge now is to find ways that, people may deal with the unavoidable austerity measures that have to be taken.
So WAS IT A DREAM? ---this ‘something new about mortgages’ I think it was not.
What is vital now is a new time of transparency and truth to relieve people from the trauma and stress of the more austere times that are coming.
This may well encourage us to work for the recovery of the UK. But it can only happen when we have a caring and fair concensus government without partisan interests.