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Article: LETTER:Remember the South Sea Bubble
- Article from:
- The Independent (London, England)
- Article date:
- June 6, 1995
- Author:
CopyrightCopyright 1995 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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From Professor Chris Adams
Sir: Reading today's coverage of the plight of the small
minority "caught in the negative equity trap" ("Homeowners, you've
never it so bad", 2 June), I am almost sorry that I never had
enough cash in the Eighties to treat housing as an investment.
Everyone has a hard luck story. Growing up in the Sixties, my
partner and I believed Harold Wilson - we followed science careers,
stoking the white heat of the technological revolution; we begat
children, believing that the state education system would give them
the riches we enjoyed in the Fifties and Sixties, and we grew older
fully expecting that dignity in old age was a universal right.
By our reckoning, we are ...