Posted by: John | March 17, 2009

Will the FSA throw Brown under the bus?

See my earlier post

So it looks like there’ll be (at last!) tough regulations – Brown has thrown his own body under the bus. I look forward to hearing them tomorrow.

This will presage further falls in house prices and lots of people will be absolutely raging about Brown.

It’s not that the new house prices might not be right – it’s just that there was too little regulation (`comes under my responsibility` G Brown) and not the right types. According to Lord Turner `the FSA was politically encouraged to utilise a light touch`. In other words `over to you, Gordon!`

At the moment in my area my guess is that house prices are down to 2003 levels – how much further will they fall?

We are already facing a bit of a housing `crunch` – could there be a housing `freeze` with people unable to lose so much money if they bought recently – while at the same time buyers not able to purchase a home will carry on renting.

Don’t underestimate the anger of the British people at this completely foretold events – the anger will be directed at Labour.


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