Bank of England: Housing move may cause new bubble

Bank of England: Housing move may cause new bubble
 

THE UK government's schemes to prop up the housing market and boost builders risk inflating another housing bubble and must be a short-term measure only, the Bank of England's deputy governor has warned MPs.
Giving evidence to the Treasury select committee, Paul Tucker said that a medium or long-term mortgage guarantee would be dangerous and unnecessary.
He said: “This country has had an active housing market without a government subsidy. I’m absolutely sure that structure helped brew the bubble that blew up the world in 2007 and 2008. This is not a market that needs a permanent subsidy.”... read more

 
3 July 2013 in Business, Views: 8
Source: Scotsman
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