FSA is harming UK housing market, says Redrow chairman Steve Morgan: By Emma Rowley 13 Sep 2012 writes in The Telegraph
There are more issues than those discussed in this article. In the South East where most of the infrastructure investment has taken place there is a shortage of a serviced land bank and even less available for release to the next generation for new Housing stock. The housing industry needs to change and move away from the false premise that there will be another mass housing boom which will once again increase their land bank book value.The government needs to provide certainty by placing credit controls back to mortgages or loans not exceeding 76.6% of land value for residential property.Prices will re adjust to more sustainable levels outside high demand hotspots.The house builders will fight tooth and nail to influence the politicians to resist this for purely private economic gain. However to stablise the industry and start competitive growth again this will be necessary. The future is the renewal of infrastructure,commercial buildings and...