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Prescott blames the banks for the housing boom |
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By PricedOut on
Fri, 02 May 2008 10:08:11 GMT
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John Prescott, the former deputy prime minister, has accused Britain's "greedy" banks and building societies of destabilising the economy by fuelling the boom in house prices over the last 10 years.
In an interview with Property Week published today, Prescott said the UK banks had abused the benign economy conditions of the last decade.
So what was he doing for the last 5 years while this was happening? He was coming up with flawed shared ownership schemes and so-called affordable
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Half of Somerset Land is Unregistered |
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By PricedOut on
Sun, 13 Jan 2008 20:37:39 GMT
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The government has admitted that about half of the land in Somerset is not registered with the Land Registry. Without this vital information how can the government be sure that the right levels of tax are being paid by landowners? How can the government decide where the right land is for housebuilding?
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Happy New Year for 2008 |
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By PricedOut on
Mon, 31 Dec 2007 20:16:46 GMT
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It is now New Year's Eve, December the 31st 2007, and it is time to nail our colours to the mast and make our foolhardy predictions for 2008. Right now you may either agree or disagree with them, but the true errors will creep out over the next 12 months. Please do not take these opinions into account when you are making major financial decisions. Happy New Year!!
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First-time buyers set to rescue house prices |
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Media Comment
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By PricedOut on
Fri, 21 Dec 2007 17:13:46 GMT
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http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/20/bcnrics120.xml
"Pent up demand from around 1.4m first-time buyers could provide huge support for the softening housing market next year, according to the Royal Institute of Chartered Surveyors."
PricedOut comments - FTBs and anyone else waiting for homes to become affordable should take this article with a very large pinch of salt. RICS represent surveyors who have a huge vested interest in turnover of house purchases. We wouldn't want surveyors to go out of business but they have been part of the system that has allowed prices to rise out of control and there is anecdotal evidence that some surveyors work in tandem with estate agents to boost prices. Like many other property industry representatives, they also tend to celebrate h ...
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