mortgage pain for 750000 owners, page-26

i guess wages have moved a little but the cost of living is really gathering pace. drop all these rate rises and high fuel prices on the punter and there can't be a much left for a lot of people. if our inflation rate is around 4% and the wages have moved the same, then punters are finding it hard to get ahead. housing was an easy way for most people to get some assets under their belts over time. the quick appreciation stage of those assets have now slowed or slowing down. In a lot of cases, its now going in reverse. The days of people using their house as a credit card look to be over. That must have a major impact on the economy in the coming year. Banks are incredibly quiet at the moment. Years of feasting on the punter is also coming to an end for them. Its always better to feast off many smaller people that a few big ones since the numbers soon become massive. Those days are now eating the investment banks profits and boards. I guess they can take their mega golden hand shakes and walk away.
I meet an older fund manager about 15 years ago and his quote was 'buy the companies that are run by the biggest thieves and you will make money' He was referring to the banks and insurance companies at the time. He was right for the last 10 years.