Private Eye on Thatcher and the Housing Bubble

Beastrabban\'s Weblog

Private Eye in the issue of the 19th April – 2nd May 2013 marking the death of Margaret Thatcher published a piece on her legacy of failure and corruption. Among her other failed policies and their disastrous consequences, the Eye included in the piece ‘That Thatcher Legacy’ ‘Booms and Busts’. This was the housing bubble created by Thatcher’s ‘right-to-buy’ and the selling off of council houses. The Eye said

Right-to-buy helped fuel the Eighties housing bubble, which burst in the early Nineties, but this was quickly forgotten by politicians and regulators until it happened again. After the start of the longest bull market in 1982 came Black Monday 1987 – a record one-day Wall Street crash – which was also forgotten until the dotcom bust in 2000 and Lehman collapsed eight years later.

In last fortnight’s Eye, they warned that Osborne’s ‘Help-to-Buy’ ISAs would further inflate house prices, without…

View original post 92 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s