Thursday, March 13, 2008

Coming to a city near you

France's sordid housing crisis

Well, Dithering Darling has done absolutely nothing for first time buyers, and insists that their broken statistics are valid. This kind of thing is therefore inevitable. I'm quite sure the Labour government will make this kind of thing a requirement in fact as part of some initiative to get low income workers accommodated.

Posted by paul @ 09:40 AM (764 views)
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3 thoughts on “Coming to a city near you

  • whiteknight says:

    astonishingly destructive error to postpone (or maybe even believe you can cancel) a recession (bust) by inflating such a bubble.

    the new bubble is commodities and because these are consumables and must be paid for on a margin account by everybody (oil goes up == price at pumps goes up almost immediately) – it will be the final one. You also cannot easily recast petrol as an asset that can be flipped on at a profit tomorrow. It just can’t be dressed up in that kind of PR.

    However, we see that infact the housing asset bubble was equally as destructive. (key workers, community damage etc. etc.). We will be counting up the cost of this one for many years.

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  • whiteknight says:

    to qualify that above comment: “You also cannot easily recast petrol as an asset that can be flipped on at a profit tomorrow”.. i mean by the average joe.

    obviously the market participants will speculate as they wish.

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  • japanese uncle says:

    Severest taxation on a speculation profit, (95% tax) on a globally coordinated basis (no tax haven) should be the only solution. The tax proceeds can be distributed to the poorer families. Also it is vital to make this sort of speculation a crimie against humanity carring at least 20 years imprisonment penalty.

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