For many homeowners, falling prices already are a reality. Not that all seem able to believe it. On one online property forum last week a woman from Cambridge wrote in to say that her property, which she bought for £350,000 last year, had now been valued at £300,000. She wanted to know if she could sue the surveyor who had valued it at £350,000 in her homebuyer's report.
That certainly is a novel way of losing money in the property market: running up large legal bills trying to sue a surveyor who did not spell it out in idiot's language that house prices can go down as well as up.
A pyramid scheme is essentially a scam where ‘investors' pay a sum of money to enter a pyramid and are promised a financial windfall ...The people who set up the scheme may make significant sums of money.
However, the further down the pyramid investors are, the more likely it is that they will lose money. Every pyramid eventually collapses when there are no more willing recruits, leaving those who have recently joined the scheme nursing their losses.
Duplex said:The damage that a bursting bubble would do to the Irish economy is frightening.
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