New’ property bubble?! We are in the grip of a huge government maintained bubble which they’ve been inflating for over a decade now, seriously, when average house prices are over six times the average wage something has gone (and is going) very very wrong.
There is an easy way to stop the housing bubble – allow interest rates to recover to the levels they are supposed to be now. Giving people a 95% mortgage at historically low rates when you know interest rates are due to recover to historical levels in 3 years time which will mean those new buyers will be forced to hand back the keys and see their house prices collapse as everyone sells at the same time is pure evil.
Oh Mr Carney, don’t expect Brits to be as responsible as Canadians. To get a mortgage in Canada today much the same procedure is adopted as it was in the UK about 40+ years ago, but during those 40+ years the UK has been encouraged to live now and don’t even worry about it if you can’t pay later.
well all those hailing the modest recovery; Osborne’s gamble; by creating a potential bust; from which they will walk away; wealth intact; they should be legally bound; they want public services to run and compete against for profit business; yet Osborne would find it difficult to run a bath never mind a business; why is he in politics his family have a good business; he shouldn’t be inflicted on us; he hasn’t managed the economy he did nothing other than watch and hope; his ilk will gain from the boom then the bust; as the taxpayer guarantees it; the deficit has come down slightly but 400 billion was printed in QE; its a falsely inflated economy to buy the 2015 election for them; create a mini feel good factor for the mass mugs.