UK Chancellor Jeremy Hunt's recent proposal for the housing market, specifically his idea to introduce 99 percent mortgages, has sparked widespread concern across various sectors. Critics argue that this move could potentially destabilize the UK housing market, drawing parallels to the controversial 'Help to Buy' scheme which many consider a failure. Commentary from different sources, including political figures and market analysts, suggests a consensus on the riskiness of Hunt's proposal. Concerns also extend to the broader economic implications, with some pointing out that such policies might reflect a lack of economic literacy within the government. The proposal is seen as an attempt to address the cost-of-living crisis, yet critics argue it fails to tackle the root problem and could lead to a house price catastrophe.
UK Chancellor Jeremy Hunt’s latest mortgage idea is a risk for the UK housing market https://t.co/UYj5M8M3a6
“The incredible thing about [Jeremy Hunt’s] latest intervention in the already over-priced housing market is how nobody, from any part of the property sector, seems to think it’s anything other than an utterly terrible idea.” 🖊️ @JonnElledge https://t.co/SZZsJonYkk
🖊 "Hunt is about to plunge Britain into a house price catastrophe" "Help to Buy was a disaster that the Tories seem bent on repeating" Read the full column from @KateAndrs below ⬇️ https://t.co/5WJPeGv0L0
“The cost-of-living crisis hinges on one problem, and Jeremy Hunt’s 99 per cent mortgages can’t disguise that fact.” 🖊️ @JonnElledge https://t.co/8DNqSJMz0e
Hunt’s latest mortgage idea is a risk for the UK housing market https://t.co/sVfBTgUT4b via @MerrynSW https://t.co/HnMaEhy7bF
Hunt’s Latest Mortgage Idea Is a Risk for the UK Housing Market https://t.co/7wWL27B7vv
I thought the Tories opposed Sadiq Khan's rent control, yet here's a minister saying that evictions should be limited to avoid rent changes. This is a really dire sign about economic literacy in the government. https://t.co/40NgbYgI6Y