What is it with politicians when they get a little power thinking that they can buck market forces.
The best example was Gordon Brown who famously said a few years back that boom and bust were things of the past.
Just before one of the biggest busts in history!
Now we have Grant Shapps (who?) the UK housing minister spouting off about housing booms being over for good.
Doh! How illogical is that.
He is trying to get councils and developers to build more houses. I thought councils had run out of money?
We already have a chronic housing shortage and at present not enough properties are being built to even keep up with current demand.
Immigrants are still flooding into the country with little success at stemming the flow.
We are now being told that property should not be considered as an investment.
So who is going to provide the housing when private landlords and pension funds leave the market?
Either Mr Shapps is living in cloud cuckoo land or is a closet communist!
So I will make a prediction.
Within five to ten years we will see the biggest housing boom ever as market forces take control.
Then the real answer will be addressed and 35/40 year mortgages will become the norm.
Enough of my rant let's have a joke.
What's the best way to stop a runaway horse? Bet on it.
On this day:- 3rd January
In 1521 the pope ordered the excomunication of Martin Luther.
In 1924 Tutankhamen's tomb was discovered.