© 2018 Greg & Sylvia RAY

Victims of the housing bubble

Q: What's faster than lightning? A: The speed with which a "for sale" sign on a house is replaced by a "sold" sign. Somebody wrote that on Facebook recently, in a happy mood, since they had just sold their house for a tidy sum. And we know it's true, because everybody seems to be talking about it. I know some people who sold a house a couple of months ago. It had been delayed going on the market by a variety of factors. When they started talking about selling they were told they might get $650,000,…

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Will we ever finish paying for the GFC?

When will we be finished paying for the Global Financial Crisis? Or, more to the point, when will our children and their children be finished paying? I’m not sure what the answer is, but I imagine it will be a long time in the future. When the finance industry detonated the world economy back in the noughties, we were immediately told that the institutions and corporations who made this happen had to be bailed out. This was because they were “too big to fail”. While it was true that it was all their fault, and that…

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