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Brown's Housing Plan Will Not Make Homes More Affordable, Govt Agency Warns

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http://www.forbes.com/markets/feeds/afx/20...afx3910957.html

Brown's housing plan will not make homes more affordable, govt agency warns

LONDON (Thomson Financial) - Prime Minister Gordon Brown's plans to UK boost housing supply will not improve first-time buyers' prospects of getting on the property ladder, a government-backed agency warned.

Professor Stephen Nickell, chairman of the National Housing and Planning Advice Unit (nyse: UNT - news - people ), welcomed the government's plan to increase the annual target for new homes to 240,000 from 200,000 by 2016 as 'a big step forward', but he warned it can do no more than stabilise the problems of affordability facing first-time buyers.

'Housing supply will need to increase even further' to prevent affordability worsening over the long term, Nickell said.

The NHPAU chairman, a former member of the Bank of England's rate-setting committee, also warned that the government's targets will be difficult to meet.- I wonder if this guy has any VIs in keeping house prices high/stable... hmmm <_<

'The government's proposals, while pragmatic, may be stretching given the obstacles to home building and the history of the past three decades,' he said.

Edited by studdymx

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The next stage of the propaganda war has begun, a fake tug of war between the government and VIs.

Gordon has covered his back by putting his plans forward, now he can send out his VIs to spread the word, sow the seed of doubt that will force more desperate young people into massive debt to fuel the HPI economy. Gordon is right, there is more mileage in this. There are millions of people who are not yet saddled with unrepayable debt.

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http://www.forbes.com/markets/feeds/afx/20...afx3910957.html

Brown's housing plan will not make homes more affordable, govt agency warns

LONDON (Thomson Financial) - Prime Minister Gordon Brown's plans to UK boost housing supply will not improve first-time buyers' prospects of getting on the property ladder, a government-backed agency warned.

Professor Stephen Nickell, chairman of the National Housing and Planning Advice Unit (nyse: UNT - news - people ), welcomed the government's plan to increase the annual target for new homes to 240,000 from 200,000 by 2016 as 'a big step forward', but he warned it can do no more than stabilise the problems of affordability facing first-time buyers.

'Housing supply will need to increase even further' to prevent affordability worsening over the long term, Nickell said.

The NHPAU chairman, a former member of the Bank of England's rate-setting committee, also warned that the government's targets will be difficult to meet.- I wonder if this guy has any VIs in keeping house prices high/stable... hmmm <_<

'The government's proposals, while pragmatic, may be stretching given the obstacles to home building and the history of the past three decades,' he said.

......while competing with BTLers tax advantages and second home ownership not being penalised, especially in the Country and Seaside locations.........FTBs will gain no level playing field under any 'plans' GB has revealed to date..... :(

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The next stage of the propaganda war has begun, a fake tug of war between the government and VIs.

Spot on there. Completely unrelated but this morning 'Breakfast' had the controller of BBC1 on getting a fake grilling over the queen story. All just to make it look like the BBC was being impartial. Will be interesting if they continue to keep it at the top of the news like they would if he was a politician.

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