Britain's housing plan smells like Ponzi: James Saft

[AtW]

probably done on purpose to allow them to deliver more advertising

Yes and more page views.

UK houses became ponzi scheme long time ago - the Govt is guilty in not just allowing it to happen but actually profiting from it and actively supporting this ponzi scheme over last 10 years. What they do now can't possibly support anything since the pyramid is crushing down.

[mrdonuts]

probably done on purpose to allow them to deliver more advertising

[thunderlizard]

...especially as you have to scroll down a bit to get to the next page link anyway!

[tim123]

I do so hate these web designers that spread a short article over a number of pages. It's so inconvenient waiting for each page to load separately!

I'm not an idiot. I do know how to scroll down - morons!

tim

[OwlHoot]

From Reuters - Britain's housing plan smells like Ponzi: James Saft

LONDON (Reuters) - Britain's plan to cut taxes and offer incentives to first-time buyers is sure to fail and smells a bit of Ponzi.

Britain this week announced a 1 billion pound package of measures including eliminating a 1 percent tax paid by buyers of houses costing less than 175,000 pounds and a programme to give interest-free 30 percent down payment loans to first-time buyers with moderate incomes.

Ponzi schemes, called after a famous fraudster, attempt to use the money of new investors to pay unsustainably high returns to existing ones, but at their heart have no actual business or productive enterprise.

While by no means a fraud, the plan will in effect suck money from those not on the housing ladder or at its bottom to support those further up, as well, significantly, as the banks who've loaned them money. The plan also meets the Ponzi test in that it is an attempt to keep an overdeveloped and underproductive sector of the economy going. ...