Unusually truthful article on property speculation in the Guardian
This extraordinary article in the Guardian provides some unique insight into the psychology of the rentier class. Henry Pryor, a self-described property expert, has written an article about speculating on property as part of the Guardian’s new year ‘how to make money’ series. The article contains some some of the rawest and truest language I’ve ever heard from a capitalist rentier:
Making money in property requires you to take advantage of others’ misfortune. The three Ds will drive the market this year: death, debt and divorce will be the motivators that throw up the bulk of the opportunities….
follow my carnivorous instincts when I am advising clients and be predatory…
On the subject of buyers, forget the literally “poor” first-time buyers. Let the government worry about building for them (which they won’t). No one wants to lend to them and they struggle to save the £35k deposit out of taxed income now that they have to repay their student loans…
Abroad, follow Ryanair. Where can you fly for a fiver? Look to buy or rent a second home there. As with the UK, follow the smell of rotting meat and make derisory offers.
The Guardian has performed a great public service in publishing this. Rent has always been a tax on the poor from the rich. If you are fortunate enough to buy and get a mortgage, remember that the word ‘mortgage’ comes from the French for ‘death pledge’. It’s not for nothing that Jesus drove the usurers from the temple.
Happy new year- it will be an interesting one