7 February 2017
Housing market 'broken' - Conservatives wake up from coma
So now the Conservatives are turning their back on Margaret Thatcher's signature policy of making everyone in Britain a home owner (code for shackled with debt). Why, I wonder has this happened now when its been pretty obvious to most people that the housing market has been broken for years. Well, I suspect the answer is pretty simple. Its most probably been driven by the sons and daughters of Conservative MPs calling up their parents and asking for some financial help because a sweet little one bed box in Ilford is going to cost £2M! Gosh, Ilford is a dump, how can a one bed cost that much? The answer is, of course, quite simple. Saint Margaret pushed everyone into home ownership (supported by her immoral 'right to buy' gerrymandering) and made sure that lending was as easy and unrealistic as possible. So we end up with a seriously overheated property market where everyone, excepting Russian Oligarchs, are being priced out of the market.
And now the Conservatives have awoken from their coma, realised that the housing market is completely bonkers (driven by the London/Westminster/City bubbles) and now 'renting' is back.
How long before that sweet little one bed box in Ilford is renting for £2,500 a month?
Posted by niall connolly at 09:41