Tuesday, May 20, 2008
Merryn tells it like it is
Moneyweek: No oil or housing shortage, just a lack of common sense
We have such a vast oversupply of houses in the UK that Gordon Brown is proposing to spend £200m to buy up some of the excess.
There is a nice irony in seeing the government, whose tax and easy-money policies drove the buy-to-let bubble, backed into becoming a buy-to-let investor itself just as everyone else rushes for the exit.
This seemingly sudden surplus of new houses throws light on the nonsense that has been used to rationalise the housing bubble over the past decade.
The thing in short supply was never houses. No, it was common sense.
Posted by little professor @ 12:12 PM (374 views) Add Comment
5 Comments
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1. mark wadsworth said...
Good find.
2. Crutchley said...
But aren't we eventually going to run out of oil? What about exponentially expanding population (and resulting demand)? What about the Chinese and Indian industrial revolution and middle class demanding the 4x4 lifestyle that we have over here?
Surely the current oil situation is actually a *New Paradigm* !?!?!?!!!!!!!!!!
Oh... wait a second......
3. geed said...
This was in the money section of the FT this weekend also. Good Good.
4. titaniccaptain said...
Not only is the best Journalist in u.k. at the moment she is also the most attractive...........Even gives Caroline flint a run for her money Mark wadsworth
5. drewster said...
As a paid up subscriber to MoneyWeek magazine, I can highly recommend it!