Tuesday, Apr 03, 2012
Another desperate effort to prop up the British Ponzi housing market...
This attempted reinvigoration of the 1980’s right-to-buy scheme is another ad hoc response to short term pressure. Tempting people to take on a huge debt and enter the bottom of the housing market pyramid is a cynical way to attempt to ‘re-boot’ the housing market. Implicit in this action is the view that an inflated housing bubble is actually an optimum national economic condition.
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