So it was with a feeling of groundhog day like despair that I read this morning that the government has decided to ACT on the housing crisis in the UK. Of course there is not a housing crisis in the UK yet, but on current trends there will be a problem soon, unless there is more construction of new housing permitted across the country. In the past the state has managed the process directly, by building social housing- council housing, we used to call it- but now the proposal is to provide government guarantees to banks to support mortgages to first time buyers.
Doubtless the ministers and the Prime Minister who is making the announcement this morning will congratulate themselves on an exciting and original idea to stimulate the housing market into growth once more.
Except it is not an original idea- FDR thought of it in 1930s America and created the federal mortgage protection agency that became known under the friendly acronym Fannie Mae. Yes, you have heard of it, because it is the essential bankruptcy of Fannie Mae that has been one of the major problems that the US government has had to deal with.
Not all that surprising as we\’re both liberals of course, even if I might be slightly more red in tooth and claw.
Now, to a slightly different question. Anyone know how I can get in touch with the bloke who is Cicero? I\’ve tried a tweet and that didn\’t work, can\’t see an email addy around and for some reason I can\’t leave a comment there.
The reason I want it is that he knows a lot about Estonia and I want to find out if he knows the company that I\’m interested in talking to…..