Friday, May 23, 2008
Lord Oakeshott talking about how to solve the housing crisis
Property Week: The sooner we get the fall in house prices over with, the better
After a house party as wild as Britain’s over the past few years, the hangover will really hurt. At the end of any speculative boom, turnover slows right down as buyers run out of cash and confidence. The bigger the boom, the more reluctant people are to believe it’s over and bite the bullet when they need to sell.
A home is a place to live, not a way to bet. That’s a lesson we must never again forget.
Posted by kerstin @ 02:04 PM (779 views) Add Comment
9 Comments
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1. a saver said...
What a delight to hear someone saying something sensible about the housing market. Sensible comments on the article too. Nice post kerstin.
2. cyril said...
Lord Oakeshott thinks tt would be a good idea to build more social housing but the Govt can't afford it. They've been selling off council houses since the 1980s and they have made a tidy sum from it. In fact you could say they had a vested interest in keeping the price of property up.
3. wilee said...
2.Cyril said "In fact you could say they had a vested interest in keeping the price of property up."
There's an understatement if ever there was one. ;-)
4. the haunted said...
"40% of British households have negative monthly cashflows."
By the power of Greyskull, that is one hell of a problem!
5. mark wadsworth said...
"A home is a place to live, not a way to bet. That’s a lesson we must never again forget."
Exactly. So why not ram the point home by replacing really bad taxes (make up your own list) with Land Value Tax that will keep prices low and stable?
6. the haunted said...
A home's a place to live, not a way to bet,
and that’s a little lesson we must never again forget,
Especially those pillocks with a Buy-to-le.
Its a house crash,
Ohhhhyeeeah,
A house price crash!
7. the haunted said...
DOH! "buy-to-let" god damn it! Bring on the edit function.
8. plato said...
Well it's all been said before, mainly on this site for how many years? At least it's hitting the mainstream now with such high profile commentators having a greater impact. It's still a bitter pill for the majority to swallow though, after so much mind conditioning regarding the purpose of housing and the perception of making easy profit.
This can only be cured by a real and natural fall in house prices. Government shouldn't artificially support such an inflated market but should look instead to creating a fair system of housing as is their social responsibility. Trouble is, they are relentlessly giving all the money to the banks who are keeping it for themselves.
9. malct said...
political ponerology
psychopaths
genetic
6% - 25% - total control
they can't do it without our help
by doing nothing we help them to wreck our lives
many of the 25% post here
the 6% know better
we can win so easily