Reply To: Spanish property market 2008: soft landing or train wreck?

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@mg wrote:

@mike wrote:
“When you were young and naive would you have listened to an apparently rich man who gave you the secret to riches”

If I had not been given a brain so I could think for myself , maybe, otherwise, would always question.
Perhaps that may be a problem with young people. They read the junk media, watch TV and think they can get money for nothing.

Well, to be fair, that’s always been the case that the young wanted to take short cuts. And it’s hardly the young who have caused the current crisis. I’m just rather protective of people who are encouraged to jump on a bandwagon by people who do know better but who feel less insecure if everyone is copying their mistake.

@mg wrote:

Perhaps with the financial crisis now, all lenders will revert back to as it was and lend to only those who can prove that they can afford to repay the loan, even in times whene there is a blip.

I agree. In fact I agree with most of your points except for your downer on the young, I think that they should challenge the accepted wisdom and make mistakes. And we should stand in their way when they are being exceptionally erm, brave.