How did Celebrity Culture Devalue Your Property?

Article by Rob Smith

It’s All David Beckham’s fault.

Annoyed that your house is valued at much less than it used to be ? Well, this is whos at fault.

It goes like this

Throughout the 4 years ever since the banking crisis hit, politicalcommentators and economic specialists’ have gone on about why/how/who. Why did it happen? How did it happen? Who’s fault is it?

The answer is time and again laid out as burgeoning consumer debt whichjust got unmanageable. The sub prime mortgage calamity, and an over eager housing market place both here and over the Atlantic as a end result of lenders playing fast and loose with lending procedures helping homeprospective purchasers to push every envelope attainable to purchase a home. Outrageous wage multiples.Cashback deals. 125% mortgages. Self employed self certification. And so on.

All of these things have helped to fuel the fire of abandon.

What probably began the smouldering to start with? Why is the man on the street so obsessed with selfenchancment and showing off their top of the range bling to the world? Larger homes. Better cars etc, which all have to be financed Whether they can afford it or not.

The answer undoubtedly will be found in our own celebrity culture. Tabloid gossip columns, reality Television shows, magazine photographs etc all flaunt celebrities in the public view with the latest fashions alongside the flamboyant gizmos, accessories and gems. The purchasing of great success.

There’s even a slang name for dressing with the coolness of a celeb. Something like ‘being Reem’.

So when Tulisa pops up in the most recent Top of the range motor with limited edition Dolce & Gabanna sunglasses and a pair of jewel covered Ugg boots, we crave them too. (Or at the least the ladies amongst us do).

A peek of Peter Andre in Super Dry or with Louis Vuitton iPad under his tattooed arm, sets off a copycat shopping frenzy by aspiring Peterphants.

A consumer growth has inarguably sprung from the aspirations and desires of Mr and Mrs UK who want to keep up with the Jones’s at such a pace that they will reach the limit on their charge cards, take out loans and re-mortgage so as to flaunt the trappings of celebrity income.

But then, as we’re all eventually caught out as the brakes of reality are ultimately applied, the leftovers of our delusions lay in a heap of personal debt obligations secured on house prices that, at least for now, have vanished in the same direction as a Premiership footballer’s morals.

The primary purveyor of having it alland shoving it in your face was David Beckham. As he grew to become more about brand and less about football, every thing he was wearing, bought and drove transformed into a must have for wannabes. Endorsements and sponsorship deals valued at huge sums drive home this point. By way of example, Vodafone once paid our David

April 20 2012 01:54 pm | Celebrity Tattoos

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