Report Uk Government Props To Sustain House Prices in House prices and the economy Posted March 21, 2013 Osborne's mortgage prop has to be quite the most stupid thing he's done, even by his own standards. Assuming it is not just an empty PR stunt to confirm properdy owning credentials with the Tory faithful, this crass measure just repeats the very same policy that got us, Spain, Italy, Portugal and Greece in the mess we're all in. Seasoned House Price Crash subscribers will know we went through this artificialk propping up of the housing market long ago (see Brown/Blair) and now Osbourne wants yet another measure to keep prices up. How utterly dim. This is a license to push prices up even further than their current absurd levels, and encourages EXACTLY the kind of debt fest that bankrupted us in the first place. Moreoever, those taking advantage of it will still have to pay the loan back and still have to pay for the capital cost of the transaction. Meanwhile the economy will not benefit one iota from this measure. The opposite is the case: Yet more debt tied up in unsustainable property prices and yet more precious cash going into useless investment which does zero to recover the economy. It will just make buying a house EVEN more expensive, and divert desperately need cash away from infrastructure and into the very same gambling that brought the UK to its knees. Mindbogglingly dim witted, stupid beyond belief and confirmation that two successive governments are more interested in short term PR than paying off the UK's staggering debt. After many years seeing disaster after disaster discussed here, it is beyong depressing that even after the debacle of the last ten years, neither the electorate nor parliament nor the media has learned that the UK's bankruptcy is based on one fundamental truth: Gambling on property caused the crash and if this stunt comes to fruition will continue to push us all into further debt. This government, like the last, is only interested in appeasing the roullette players, and not interested in real recovery.