Shapps: Talk of ending house price boom and bust is 'foolish'

HAMISH_MCTAVISH

Grant Shapps said it was not “within the gift of Government to do that”.


Speaking on Radio 4, he told listeners: “I would be foolish to say that you can simply end boom and bust, you can’t.”


However, he explained there are policies that the Government can introduce which can influence the market, such as those affecting the housing supply, the way mortgages operate and how people invest their money.


It comes a day after Mr Shapps warned that young people face waiting until their mid-30s to buy their first property if they do not get financial support from their parents.


In the radio interview, Mr Shapps explained: “I want to distance myself from a Brownesque pledge to end housing boom and bust forever.

http://www.telegraph.co.uk/finance/personalfinance/8237205/Talk-of-ending-house-price-boom-and-bust-is-foolish.html

Then goes on to repeat what he's already said for the last few days.

Wants house prices to rise by less than wage inflation to allow a "real terms" correction.....

But it looks increasingly like he realises such an outcome will be very hard to pull off, as the shortage of housing will inevitably lead to another boom sooner rather than later.

abaxas

What a load of tosh.

Communism would sort it :P

Losing_the_way

HAMISH_MCTAVISH wrote: »

http://www.telegraph.co.uk/finance/personalfinance/8237205/Talk-of-ending-house-price-boom-and-bust-is-foolish.html

Then goes on to repeat what he's already said for the last few days.

Wants house prices to rise by less than wage inflation to allow a "real terms" correction.....

But it looks increasingly like he realises such an outcome will be very hard to pull off, as the shortage of [STRIKE]housing[/STRIKE] lending will inevitably lead to another [STRIKE]boom[/STRIKE] bust sooner rather than later.

That could be the alternative that happens , which he intimates they will only have a few tools to prevent, and little if any political will to prevent.

The-mouth-of-the-south

The young just have to work harder and give up the xbox, cars and holidays

abaxas

The-mouth-of-the-south wrote: »

The young just have to work harder and give up the xbox, cars and holidays

Just like the old will have to give up their pensions.

The-mouth-of-the-south

Send the young to the work houses

mbga9pgf

Just like mummy and daddy baby boomer will have to get shipped off to a cheap OAP home and turned to glue.

Thrugelmir

HAMISH_MCTAVISH wrote: »

Wants house prices to rise by less than wage inflation to allow a "real terms" correction.....

Not like you to be bearish McT.

markharding557

The-mouth-of-the-south wrote: »

Send the young to the work houses

You will give southerners a bad name with all the mindless rubbish you splurge out.
mbga9pgf wrote:

Just like mummy and daddy baby boomer will have to get shipped off to a cheap OAP home and turned to glue.

Another daft comment-all this inter generational division serves no one but the politicians and banks:(

The_Fox_3

It's about time this subject was taken a little bit more seriously by politicians, because of the narrow minded greed of those "i'm allright Jack types" most of the people in the UK are not going to advance in the quality of housing that could easy be made possible.

Because of the fear of those with property portfollios losing equity in their property, and even many people with just one property(voters) who feel so insecure about themselves that they need to know they are some kind of success because there property is worth xyz £'s.

Land for building is kept in short supply, economic policy is designed to help the reckless, WHY can't people in this country see the big picture, so many live from day to day and their only satisfaction comes from knowing that Joe Bloggs done the road cannot afford and these days aspire to own a home like his/hers, and in so many cases property that is usually come their way by luck or chance.

Now i don't mind succesfull people going on to live in good or "better" homes than the rest of us, i just hate the mentality of British people judging themselves and each other on the property they live in.
The design of propertys is so lazy and dated in the UK now, if we were not obsessed with outdoing each other we could be designing 21st century property that is a pleasure to live in. Property where we go up one more level, where cars are parked on a ground level or basement level underneath the home, ground heating and pv systems etc etc, we could be far more creative.

But no! the only thing so many people want is to be outdoing Joe Bloggs, it's the same as the small d**k analogy of the type of men that drive sports cars to prove that they something they are not.
If we want to live in a better society we had better start giving our young people hope and aspiration rather than want them to suffer in order the Haves can continue bragging about the value of their property.

Real wealth comes from making things, from being creative and putting into society, if we don't learn this lesson soon the whole planet will overtake us, while we are stuffing each other over property that is mostly been built already then we have no hope.

Lets make sure we are fed, watered, educated, and live in homes we are glad to go home too and wake up in(forgeting it's value as much as we do now) and then set out to create once more, lets stop living just to see false HPI.

twadge_face

We need a revolution.

What about giving a target/demand and a deadline to the government?

I suppose that's a threat. And terrorism.

Hmm. Need to think this through.