Sunday, May 25, 2008
Brown should stop meddling
Times: Oil costs up, house prices down - good news
"With no loss of green belt and no “eco-towns”, house-buying has been brought within the range of millions of new buyers, albeit under a more disciplined mortgage regime. Only builders and estate agents get hurt." [a bit premature, but soon...]
Posted by pendulum @ 08:09 AM (489 views) Add Comment
3 Comments
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1. uncle tom said...
Another muddled Simon (I don't check my facts..) Jenkins, essay. Don't waste your time reading it, or if you do, don't take it as gospel..
2. letthemfall said...
"The fall in house prices follows a classic inflationary bubble induced by cheap borrowing."
Well, Simon Jenkins got that right, even if he is a bit hyperbolic. Unusually for the Times, there are some pertinent observations here.
3. drewster said...
"brought within the range of millions of new buyers" ?
Actually a lot fewer people can afford to buy these days, because there are no loans available to them. So SJ is completely wrong.