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It’s house prices not credit that’s the real problem for buyers

Letters to the editor

It was interesting to read that housing minister Grant Shapps has joined in the debate on the Mortgage Market Review again, saying the regulator’s measures must be proportionate and avoid unnecessary prescription.

But he also argued that the government wanted to see regulation that supports access to home ownership. Any idiot can see that the biggest hurdle to home ownership is not credit availability, but house prices.

Any idiot could also see that a short-term squeeze in credit availability will result in lower prices, allowing for greater access to home ownership.

And before people start bleating that high house prices are good for the economy, they are not. They make the economy uncompetitive, as evidenced by a recent report by the Organisation for Economic Co-operation and Development.

Our economy needs rebalancing away from the last decade of wrong-headed investment in unproductive assets and towards wealth-generating business activity.

Name and address supplied


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EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.


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