A friend has tipped me off to the fact that from next year you can transfer personal pensions into domestic property investment. We know that Labour's economic miracle has been buoyed up by a credit boom backed by a house price bubble. I wonder if this little move, designed to keep money flowing into the housing market long since 1st time buyers have been priced out, is going to be Gordon Brown's dual Miras (catalyst of the Lawson bust). A short term boom followed by an almighty bust?
In his book Boom-Bust (which looks like a hard read given his writing sytle in the Observer:
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Fred Harrision predicts a mega bust in 2010 following a collapse in the housing market in 2007/8. Anyway it will be a fun time for people who find themselves in negative equity in both their house and pension, uncharted waters indeed.