patrick.net

Just found an interesting article explaining
Housing Market Corruption. The article is from February 2012.

http://www.firstpost.com/blogs/corruption-cant-drive-house-prices-higher-forever-198833.html

The safest argument for higher property prices is the corruption factor. The nexus between real estate promoters and politicians is always spoken of when there is talk of unsustainable high property prices. Politicians invest black money in property and it is in their interests to keep property prices high. Politicians also pressurise bankers to go soft on loan defaults by real estate promoters and that leads to the promoter being able to maintain prices despite a clear lack of demand. These arguments for property prices staying high and going higher may hold true in the very short term, but in

#housing