Monday, 28 March 2016

Aaarrrggghhhh 2 - (but with some comment this time)

Here we go again ( (c) OKGO )

So, having made a series of flawed interventions, ZIPR, QE, encouraging banks to lend more, thinking that Keynes Paradox of Thrift was not asinine, the FCA's Mortgage Market Review, etc. etc. the Bank of England now thinks that Buy to Let has got out of hand. Listen lads, it's all your fault - well you and the bloody gummint.

The piece includes this dilly:- "Buy-to-let landlords have displayed willingness to sell in the event of market changes, sparking concern in the Bank that interest rate rises would lead to a housing slump similar to that of 1988.    Eh wot?  Y'mean that your stupid policies have (especially since about 1997) stoked up land prices.  And that now that them there policies have failed - as indicated by the market finally succeeding and passing an accurate judgement on your failure - you are trying, yet again, to stop prices falling?  Tell me, are you genuinely mad?  Or just stupid?

And: "
Landlords have shown that they are all too willing to sell, as confidence hits its lowest ebb since the banking crisis. Landlords are expected to sell 500,000 properties in the next year, according to research from the National Landlords Association.".

So that's a good thing then?  Yes?



Bayard said...

"Tell me, are you genuinely mad? Or just stupid?"

No, just corrupt.

Mark Wadsworth said...

Yes, that's a good thing. Landlord sells = one more owner-occupier.

DBC Reed said...

Stop reading those Commies at the Torygraph.They brazenly announced on 10th Jan "UK house prices to crash as global asset prices unravel". These people are plotting the downfall of house prices not reporting it, you know!

Lola said...

DBCR. Yeeesss. I know that. I also get irony...