Sunday, Feb 24, 2013
FLS boost for banks and builders
The article content is quite down to earth compared to the gushing headline: 1) Builders and banks are being heavily subsidized by FLS. 2) The third lowest number of homes built in a year since 1947. 3) Mortgage approvals running at about half the level prior to the financial crisis. Lastly, Rowley speculates that " the success of the FLS may prompt the Government to increase its size as soon as next month's Budget." Is this the secret sauce that will be used to prop up prices? It's not difficult to imagine a government minister droning on about 'helping' first time buyers while giving more money to big property market players.
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