Tuesday, Jul 24, 2007
Brown uses taxpayers money to prop up property market
The Times: 8bn promise for low cost housing means its boom time for builders
Apparently Brown has decided to increase the use of tax payers money to support absurdly high house prices though the dreaded 'shared equity scheme'. Incompetent or cynical ?
Posted by bearfacts @ 12:33 PM (186 views) Add Comment
5 Comments
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1. dohousescrashinthewoods said...
Well, he's got to keep the plates spinning somehow.
8bn can probably affect the market price.
2. speculatorone said...
Until BG does a u-turn after he is re-elected as PM. I think this will die like the home buyers reports.
3. Algenon said...
(1) So at £60K earnings at five times means we are in £300K house price territory - hardly entry level! Unless he is expecting a crash to three times then we are back to £180K - but thats £180K after a crash - still hardly low cost!
(2) Will GB absorb 17.5% of any losses too?
Algenon
4. mrmickey said...
If they build all these houses on flood planes that will be another 2bn each year to repair them, that should keep the building industry going indefinitely.
5. Vicmac64 said...
Sorry Gordon - Would boat no 10 come in 'times up' - and so it is - the collapse has started and it will mirror the folly of Labours tenure in government.. there will be mass unemployment and a house price crash.