Wednesday, March 03, 2004

The Beeb Keeps Battering On

I mentioned before the BBC's pathetic attempts to cast the housing market as some vast capitalist conspiracy. They're at it again today. They quote from a City firm which claims 'a combination of speculative buy-to-let investment and lenders stretching income multiples have combined to drive the market even higher. ' See - it's all speculators and the lenders. Right.

Even the Beeb feels the need for a bit of plausible deniability so they include this later on from the Halifax (which should know since it's Britain's biggest mortgage bank): 'According to the Halifax, the house market is being propped up by a strong labour market, low rates and a shortage of new homes being built [my empahasis]. ' That's the conspiracy right there. The supply is being restricted so prices rise. This isn't Oliver Kamm terrority, it's common sense. If the Beeb was really worried about soaring prices then it might investigate just why building has lagged so far behind demand. But that would mean the BBC coming into potential conflict with ecoloons and local bureaucrats - the very people Auntie regards as its natural constituency. Far easier to stay in a never-never land of evil lenders forcing people to pay over the odds.

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