Topic: | Re:Re:Re:Re:Only eleven new flats sold in W13/ W5 | |
Posted by: | Andy Jones | |
Date/Time: | 08/11/19 08:22:00 |
This seems to be a really big story and while this site should be commended for bringing it to our attention they are only really scratching the surface of what is going on here. The cashflow situation of the developers must be pretty dire. However, we seem to effectively have banking system which is effectively state directed since the financial crisis and lending is being directed to prop them up. This clearly isn't sustainable and when the music stops the taxpayer will once again be asked to get their cheque books out. In the meantime lots of developments are being planned which are only viable because of the unlimited credit being given to developers to allow the government and local authorities to say they are meeting their housing targets. |