Vince Cable sorts out the economy

The obvious priority is affordable housing.

He seems to have missed the fact that housing is becoming ever more affordable every day.

Don\’t think we need to let his maunderings detain us any further.

9 comments on “Vince Cable sorts out the economy

  1. In Newspeak “affordable housing” means “social housing” or to us oldies “council housing”.

  2. Quite right Tim. And Mr Cable has been advocating methods by which the decline in house prices can be slowed and reversed, which sounds like one hand doesn’t know what the other is doing.

    It has been a disappointment to discover that he is better at diagnosis than prescription. Or at least, he might have been fine as a GP (preventative medicine and minor ailments), but not so good as a surgeon (dealing with critical conditions). He might reasonably say he wouldn’t have allowed it to get to this, but the fact that it has come to this seems to have thrown him.

  3. Vince was a member of the Party who thoughout the years when the current fiscal blackhole was carefully constructed criticised New Labour .Yay !!!

    But from the left…..ooops

  4. “Housing is becoming more affordable every day”

    Not if you have just lost your job or had hours cut or your earnings are falling faster than house prices. My son falls into two of these categories consequently I am no nearer to reclaiming my computer room (aka the spare bedroom) which he moved into two years ago having lost a good job and had to take one on lower pay. as things stand we are at risk of losing our dining room too if our daughter has to move home. Bookings for Corsica where she usually works in summer are reportedly very light this year.

    I’m with Vince, we need affordable housing to get me my computer room back.

    Tim adds: Being slightly brutal about this. Do you think that it is morally correct that you get to take my money so that you get your computer room back? That I get taxed so as to build “cheap” housing for your children to live in?

    I haven’t charged you for my computer room now have I?

  5. To be slightly less brutal, if Ian’s daughter normally works in Corsica in the summer (lucky girl), she is probably not going to qualify as a “key worker” and therefore not going to be very far up the queue for “affordable housing”, especially if she has somewhere to live (i.e. the dining room). The same may well apply to his son. Neither building more “affordable” houses, nor councils buying empty properties, is going to get them their jobs back. The former would further increase the excess of supply over demand and depress prices even more. The latter would hold prices above their real market level, which would make it harder to get back on the ladder when they eventually find jobs.

    Allowing the market to correct is a necessary prerequisite for recovery, and a recovery is a necessary requisite for Ian’s kids to find work. The sooner it happens, the sooner Ian will get his rooms back.

  6. > housing is becoming ever more affordable every day.

    No, it isn’t. It’s becoming less absolutely insanely expensive every day, yes, but “affordable” means something more than that. My parents’ generation had affordable housing. Mine doesn’t. We have housing that we get into crippling debt for.

    Kit’s right about the appalling euphemism, and I’m with you on your response to Ian. And I disagree with the rest of Cable’s paragraph that follows on from that sentence. But that one bit you’re quoting derisively is true. Although Cable is implying that it’s a problem of the recession, when it’s not; it’s a problem of the last twenty-odd years.

  7. Why is it implied on every BBC programme I have heard on the subject that if house prices went up again that would be good news! I want to buy a house, and I want houses to be cheaper. For people who already have a house, the price is less important, because if they sell it, the replacement would also be cheaper. Can any one explain why prices “ought” to go up?

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