November 30, 2008
Pre Budget Report – now what?
Story link: Pre Budget Report – now what?
Crosby is most certainly right. It’s a pretty simple formula if you ask me. You don’t lend, people don’t have the cash, people don’t spend.
If people aren’t spending then how can we expect the housing market to recover organically?
The Pre-Budget Report was supposed to improve the availability of mortgages. Instead it has merely exposed how many different views exist on how, or even whether, this crisis should be resolved – all scarcely helpful for anyone hoping to buy a home or remortgage, or who is wondering just how far prices will fall. Suddenly, Alistair Darling and the other individuals who have the power to make home loans more plentiful resemble nothing so much as pantomine villains, twirling their moustaches and shaking their fists, but with little real menace.