Mark Carney has given a stark warning over the United Kingdom’s housing market. The governor of the Bank Of England gave even more warnings over the state of the United Kingdom’s booming housing market to Sky News earlier today.
So the housing market is a problem for the economy. It’s meant to be giving us false hope or something. Well from what people have been making out over the last few years the housing market is the be all and end all of the economy. Everybody keeps harping on about how important the housing market is. Let’s face it, it did create the crash of 2007 that left us all in this sticky situation.
From my understanding the housing market was only booming in London and no where else. We keep hearing about how expensive the housing market is in London and nothing else. It actually looks that way as well. I don’t really know any people who can buy a house, everybody I know seems to be renting.
What is the Governments solution? Let’s build housing it brings the price down. Wouldn’t also raise the price of the most desirable houses as people try to out bid each other? but know let’s not redevelop the abandoned houses, no let’s build on every plot of land we can find because that’s how you deal with the housing market.
Make Suburbia in to a tight nit community where there’s no room for anything but houses and even more houses. The ore houses people can buy the better.
The housing market will collapse some day and were going to be poor but with about 30,000 more empty houses than back in 2007. This is just a typical thing that’s going to happen.