Wednesday, 3 September 2008

Emergency Housing Measures A Waste Of Time

The CBI describe them as "largely symbolic". The Royal Institution of Chartered Surveyors say "the Government has failed to listen to the property industry". The Council of Mortgage Lenders say "it is questionable whether it will incentivise buyers who wouldn't have entered the market anyway". And senior figures in the property industry call them "a political sticking plaster" that won't make "one iota of difference".

So why has the Government rushed through a £1.6 billion package of measures for the housing industry that no one seems to think really address the route cause of the current housing downturn?

Quite simply, it is because they don't understand the reasons for the current downturn and have insufficient funds left in the pot to really help out now we are experiencing 'a rainy day'.

And the one thing missing from yesterdays announcement? How are Chancellor Alastair Darling and Prime Minister Gordon Brown proposing to pay for this state handout? The mind boggles when you consider the irresponsibility of it all!

No comments: