from Gold Core:
Britain’s former chairman of the Financial Services Authority (FSA), Lord Adair Turner, spoke at Cass Business school yesterday and warned that the UK could be repeating the 2008 financial crisis by fueling the property market. He commented that mortgage and commercial property lending in global economies had played a “central role” in nearly all financial crises and post-crisis recessions. (Lord Adair Turner pictured – Bloomberg News Image)
Lord Turner told the Telegraph, “We’ve got to increase the supply of housing because otherwise we are just piling up very strong incentives to buy housing, very strong incentives to borrow money to buy housing but against a fixed supply”. “If you do that the only thing that can give is the price.”
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