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Letters | Sunday, 18 October 2009

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Hyper-inflated valuations on property

There seems to be a general consensus that the rent laws will not make many of us rich. As a matter of fact, there are likely to be far more court cases, more injustice and even more corruption. There are even rumours going around that this law will not even last as long or even change completely.
Some genius in the top brass has decided to make a few hopefuls think there was some hope. When you examine everything properly you realise that as a matter of fact, maybe things were better before. Sound strange? I think not.
The government is broke, the system is broke too, and many people feel broke or betrayed. Take one farcical government invention – that of revaluing property by ‘architects’ to stop people from under-valuing their property.
We all know by now that it just doesn’t make sense to do that, because unless you totally hide the money and don’t do any contracts there is no way of being caught out by your own mistake. Let’s face it, many properties are bought through loans and there is no way a bank will allow anyone to undervalue property, rather the contrary. Unfortunately though, with the economic climate being so negative, we still have this anomaly where some architects with an oversized ego working for the government hyper-inflate these prices.
The rent laws are a joke. Government still playing God, top brass playing Lex Luthor and the poor citizen paying taxes through the nose. Who’s in charge please? I want to complain.

 


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