MMTV: Malone says home ownership low on Govt agenda
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Following our recent mortgage round table, PMS executive chairman John Malone offers his views on the way ahead for the UK mortgage and housing sectors.
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Readers' comments (1)
Julian Stevens | 23 Jul 2010 3:14 pm
I don't accept for a moment that the desire for home ownership is now any less than it ever was. The simple reality is that prices have spiralled upwards to such completely unrealistic levels relative to earnings that more and more people simply cannot get their foot on the first rung of the property ownership ladder. The only alternatives are to rent or to stay at home with mum and dad which, by comparison with the aspirations of those of us fortunate enough to be able to buy our first home when we were in our twenties, is a very sad state of affairs.
The only way in which normality is going to be regained is either a massive fall in prices across the market or a long period of stagnation.
Labour and the FSA have a very great deal for which to answer. Sadly, we can't vote the FSA out of office. All we can do is move to an alternative regulator and passport back in.
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