Tuesday, Jan 15, 2008
Flawed HPI assumption caused Government's Olympic funding black hole
MoneyWeek: Do houses prices really only ever go up? Ask the Government
Plenty of otherwise sensible people have bought overpriced property on the assumption that prices could only go up. Funnily enough, the Government based its financing of the Olympic site in Stratford on the same premise...
Posted by mary @ 10:55 AM (457 views) Add Comment
4 Comments
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1. cyril said...
Look at how much the gov made by selling council houses.
It probably seems like peanuts nowadays because most of them were sold off years ago, but they made more from council houses than all the other privatisations put together.
2. inbreda said...
I said when we won (or rather despicably stole) the olympics that it would be an embarressment to top all of the other government embarressments. Not only have the government had a good had in creating a terrorist threat, they clearly can't budget, and shouldn't be allowed access to these kinds of budgets. This will make the millenium dome look like a success. Tax payers are going to be bailing out northern rock, and before long will have to find billions of pounds more for the olympics. I don't even like sport!! A disaster in the offing. They will most likely increase stealth taxes which is only going to lead to more bankruptcies anyway. The downward spiral is now unstoppable. The next few years are going to be entertaining.
3. harold said...
"Flawed HPI assumption caused Government's Olympic funding black hole"
What a surprise - and who'll end up footing the bill? I can't imagine.
Dome Nightmare II
4. Ash4781 said...
In the Times' article Savills seem very bearish!
http://www.timesonline.co.uk/tol/news/politics/article3187845.ece