Crikey! The Gruniad 'nearly' talking sense.

Headline.  “Boris Johnson’s 95% mortgages will put Britain back on course for a house price crash”.  

By line:  Josh Ryan-Collins

Here

A few errors though.

1.  This is not a failure of weak or not enough regulation as Mr R-C asserts.  I run a retail FS business and I absolutely know that regulationism, was, is and continues to be, complex, onerous, massively costly for clients and an almost complete failure. In other words there’s a lot of it so not a cause of high house prices.

2. The house price boom between 2000 and 2008 was when the Gruniads favourite idiots were in charge. It was driven by the arbitrary expansion of money and credit.  Also IMHO helped along nicely by the FSMA 2000 which eviscerated the Bank of England’s supervision powers and passed them to the FSA, which failed.  From where I sit I could watch all that happen.

3. This is all driven by bad money, to which the Gruniad is either philosophically unable to grasp (it being avowardly lefty) or willfully blind. 

4. The recent Stamp Duty threshold increase policy is also driving the current mini-boom.

Otherwise very good. And agreed generally.