Wednesday, Oct 22, 2008
Steven Norris on the politics of property
Property Week: Housebuilding will suffer after Brown’s rescue plan
"The damage is already severe. Housing starts are negligible and mortgage applications at all-time lows. Not only is that bad news for construction, but it spills over into falling consumer confidence."
Posted by peter whelp @ 05:01 PM (229 views) Add Comment
2 Comments
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1. European-bear said...
"Elsewhere things look bleaker. London mayor Boris Johnson is sticking to his target of 50,000 new affordable homes in London by 2011 but, unless prices start to rise soon, that looks increasingly tough to fulfil. The same is true for the rest of the country. Bob Kerslake’s Homes and Communities Agency will have its work cut out to turn that tide come January. "
At the rate prices are going down, there will be plenty of affordable homes in London by 2011
2. stillthinking said...
It is nothing to do with confidence. It is entirely putting a gun to the head of the population and asking them to take on a huge debt burden with a 25 year repayment plan. The plan has shown itself up.