OK, we've finally wised up to the fact that a lot of MPs have second and third homes.
More widely publicised is the fact that the average house price has fallen by about £30,000 since late 2007. As heartbreaking as that may be for the one million borrowers in negative equity, does it not gladden your heart that for every £1 you have lost, the average MP has lost £3 or £4?
So, next time the government announces some grand plan to 'boost mortgage lending' or 'kickstart the housing market', just ask yourself: for whose benefit are they doing this, and with whose money?
Tuesday, 12 May 2009
Always look on the bright side of life ...
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4 comments:
Good question MW and a point well made - yet again!
Agreed, there's a hefty dose of Schadenfreude here.
But should we also be asking whether MPs could have done anything to slow down the housing bubble had they not had a vested interest in sky-rocketing prices?
Given how much interest rates have fallen in the past year, it would be interesting to compare their second home mortgage interest expenses now with those in previous years. Do they have to submit bank statements monthly to prove exactly how much was paid in interest?
MH, we should be.
Ed, they probably claim the 'correct' amount on the second properties, but are saving oodles on first and third homes.
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