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Tuesday, 13 May 2008

House Price Crash - "We can't know how bad it will get"




That's official - Caroline Flint, one of Gordon Brown's incredibly talented team; she's the housing minister who walked into a cabinet meeting with her briefing notes on show for all to see. Thanks to a telephoto lens, Caroline Flint's "Speaking Notes" on the "State of Housing Market" are no longer quite as secret as the government might have hoped. So we know that the government are predicting "sizeable falls in (house) prices later this year - at best down 5-10% year-on year", remember that the next time a Labour minister claims prices are just steadying and bear this in mind when the government try to increase the shared ownership scheme - would you want shared ownership of a depreciating asset?

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