Submitted on Monday 7th January 2013
Published on Tuesday 15th January 2013
Current status: Closed
Closed: Wednesday 15th January 2014
Signatures: 10
Permanently cheaper housing not temporarily cheaper housing debt
The government is desperately trying to prop up the housing market via such schemes as FirstBuy (interest free loans to top up the mortgage to levels of purchase price which the banks refuse to lend for) and Funding for Lending (temporarily forcing down mortgage interest rates even lower, at the expense of millions of savers) because it knows that the self-esteem of millions of voters is based on their property equity created by the noughties housing bubble.
We don't want temporarily cheap debt to pay for inflated house prices, because that caused this mess in the first place! We want permanently cheaper house prices, achieved by resolving the supply issue caused by, for example, land-banking property developers and a lack of rent control which would discourage buy to letters from treating people's right to a home as a stock market.
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3.145.10.80 Fri, 22 Nov 2024 08:23:56 +0000
