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UK: Home truths about the housing market

Posted on 22 March 2013

George Osborne’s help-to-buy scheme in the Budget may excite the hopes of would-be homeowners, but it confirms our alarming dependence on an insufficient stock of homes. The biggest surprise in George Osborne’s Budget was the announcement of a huge expansion of mortgage credit.
This was clearly designed to portray the Tories as continuing the work of Margaret Thatcher. It is, after all, a well-known fact that the British are peculiarly obsessed with home ownership, while everyone else rents. And it is another equally well-known fact that Mrs Thatcher, who won three elections, did so on the back of an unprecedented rise in home ownership………………………………………..Full Article: Source


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