Tuesday, 15 February 2011

Blowing Bubbles

Hmm, how to keep house prices artificially high and at the same time save the whole market from seizing up. Yes, it’s business as usual in the Economics of the Impossible world we inhabit. Matt Griffith from PricedOut uncannily sums up pretty much exactly what I was thinking while hearing the dialogue of the deaf on Radio 4’s You and Yours today. Lots of people phoned in with perfectly cogent analyses - that basically the market is overpriced - only to have the idiotic presenter ignore all that and keep asking “oh, but how is it for you personally”. After a while it became obvious that not only did she not want to hear what they were saying, but that she believes they couldn’t possibly have anything useful to say because they are not “experts” - those same experts who have a vested interest in inflating the bubble.

Let’s just hope that Shapps and Co don’t try the Aussie wheeze of what Steve Keen calls “First Home Vendors Boost” ie using taxpayers money to keep prices high.

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