Wednesday, Jun 18, 2008
Jeff Randell on housebuilders
Telegraph: Housebuilders scream for help after losing their 'one-way' bet
Remarkable, isn't it, how industries that complain about Government interference during boom times are quick to scream for state aid when the going gets tough. First it was the bankers, poor darlings, who demanded help, now housebuilders are calling on ministers to "do something".
Posted by holding out @ 08:28 AM (791 views) Add Comment
5 Comments
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1. quiet guy said...
Screaming for help? Join the queue.
A lot of the players in the property bubble are going to experience hard times (that's just normal life for must of us).
2. growler said...
Like Vince Cable says, they're trying to privatise profits but nationalise losses.
We must prevent this at all costs or we create yet more risk taking. It's a paradox. The more we bail out, the more people risk as they become comfortable knowign that someone else picks up the tab. That's a receipe for disaster. Win some, lose some. That's the way it MUST be.
3. mark wadsworth said...
What's the problem?
There ain't no housing shortage for the time being. The East Europeans who have been slaving away here for the past few years can go home as relatively wealthy men (and women), the banks can break up the builders and sell of the building plots for £17k each. Which is still £17k too much, seeing as land costs nothing - it's only the planning permission granted by fiat of a bizarre combination of national and local politicians, Greenies and NIMBYs that makes a plot worth anything - and local builders can snap 'em up, stick a house on for £60k, sell it for £100k with a nice profit margin, everybody wins.
4. Natasha's Dad said...
Looking at the news over the past few weeks we can already see them lining up housing associations to buy their surplus stock.
Be interesting to see how much the HAs have to pay for it (and whether or not us mere taxpayers have any right to know ?)
Maybe the government will go out to advert to appoint a valuer for these properties (like they have done for NR)- that could bring some work to Estate Agents and avoid increasing the number of workless among us
5. Mel Bozell said...
Yes I agree with Jeff Randell.