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This would be good news if house prices had corrected first

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Mortgage approvals for house purchases  climbed to a 47-month high in November, figures showed today, fuelling concerns  over a possible house price bubble.

Mortgage approvals reached 45,044 last month,  up from 43,315 in October houseingbubble

This would be good news if house prices had corrected first, but instead house  prices have become the economy, the bank of England have had to warn that one in  six householders will not be able to make ends meet when interest rates rise and  we just know that Carney would have cancelled Help to Buy at the same time as  Funding for Lending if he had the power. This 2015 election bubble designed to  make elderly southern property owning Tories feel good is going to turn into a  very unpleasant and not so little bust.

Our land has been sequestered by the few, loaned to us in ever decreasing  packages without even the surety of a fixed known repayment and we call  ourselves “civilised”, discussing small rises in interest payments or amount of  homes sold in a month as if we are financial sages. The money is produced from  fresh air by banks we are in thrall to for a lifetime – a more misbegotten  system is hard to envisage. This iniquitous system of mortgagor/mortgagee and  landlord/tenant is simply the ultimate form of control of the many by the few as  our land is removed from us down to the mineral rights under our homes. Even  peasants in the dark ages had a strip of land to toil on by right.

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