I heard a story on the BBC radio 4 today program just now about calls for the government to bail out landlords with buy-to-let mortgages. This drives me mad, because I knew at the time of the housing bubble, when I knew tons of people who got hugely in debt to buya home to let out, that it was a crazy, risky thing to do. it was just pure greed, and added to that, I’m not entirely happy with the idea that I’d be leveraging my better credit record to exploit someone’s inability to buy a house by being their landlord… Anyway. Am I the only one that thinks that buy-to-let mortgage holders should have known the risk they took and we should let the free market correct their mistakes?
Let 'em fry.
The government should buy up cheap houses soon, since UK is short on council houses, and it will turn around the housing market.
On the other hand, that will require loads and loads of money, and the UK is already going to get increasingly crippled with debt, even in Alister darlings opimistic prediction for a small recession in 2009 and then growth in 2010. If it lasts longer, the government might not be able to borrow more and even then it will become a larger ND/GDP because of the shrinking economy.
Ahh Well, Never mind.
P.S. I agree with the above, let them fry
This is because the UK govt wastes money on pointless high profile stuff like ID cards, replacing trident submarines and the Olympics. I hardly think trident submarines help the war on terror, the Mumbai bombers were not easily nuked from a sub. The last i heard the cost was £70 billion. Imagine how much good the govt could do with that, rather than spending it on a foreign-controlled weapon system (although some of the money would be spent in the UK on shipbuilders anyway).