The housing market and Gordon Brown and also some advice to an incoming Conservative government

Gordon Brown lied about the true rate of inflation over at least the last few years. One result was that interest rates were kept lower than they should have been; this helped create a supply of easy credit at low interest rates which thus fuelled unsustainable house price inflation. The "credit crunch" was just the straw that broke the market's back. Now the housing market is falling and those floating voters who were apathetic about politics so long as they had a decent lifestyle and an ever increasing asset, are angry. These voters assumed that the ever increasing value in their house would be their pension, their holiday fund, their children's university fund etc., now they realise that they have been conned and they don't like it.

Gordon Brown and his colleagues realise that a falling housing market will adversely affect their prospects and so are desperately trying to shore up a falling market. If by some miracle works then it will have been worth it (in Gordon Brown's eye) as Labour will stay in power and he will have all the trappings of power. If it fails and Labour lose the election, then as Ed Balls would say, "so what", the bill will have to be settled by the Conservative government.

If their policy encourages people at the margins of home-ownership to buy into a falling market, then as Ed Balls would say, "so what", they may doom themselves to a future of negative equity but it is all in the cause of keeping Gordon Brown in power.

I have said this before, but when the Conservatives win the next election they should set up an enquiry into the lies told by this Labour government and what happened to all the money. The enquiry should be wide-ranging, encompassing PFI deals, defence contracts, management consultancy contracts, the £5 billion annual theft from pensions, Gordon Brown's inept selling of gold etc. etc. etc. A cost to the country of this incompetence and beyond should be calculated and presented to the country within a year and then legislation be introduced to surcharge each member of Tony Blair and Gordon Brown's government until it is paid back. I suggest the mechanism used be that of seizing any of their property that the taxpayer has paid for. This should be accompanied by a reduction in their generous final salary tax payer funded pensions to that of the standard state pension.