Another potty housing plot
Of all the daft ideas that emerged from the housing boom – such as the concept of using your own home as your pension fund, or the idea that buying a house with a complete stranger was ever a good idea – the daftest was the notion that “the property market won’t collapse – the Government wouldn’t allow it”.
Well, Gordon Brown and his colleagues certainly aren’t happy about the collapse of the British housing market, but that hasn’t prevented it from grinding to a halt. The latest figures from the Royal Institution of Chartered Surveyors (RICS) show that transactions in Britain are at their lowest since RICS records began 30 years ago. And prices are about 10% below last year’s peak already, according to the Halifax.
This, of course, hasn’t stopped either the Government or the housing industry from trying to come up with ideas to resuscitate the market.
• Read the full editor’s letter here: Another potty housing plot