Ex Societe Generale banker Will Davies says the housing price bubble will inevitably pop.
His comments come after the Bank of England Governor Charlie Bean has welcomed economic growth figures, but issued caution about rising house prices. Mr Davies echoes the governor’s concern.
“There is a total dearth of new houses, just a few higher priced houses.”
“Once the housing bubble pops, which may do anytime soon, the government’s confused vision of a brighter economy would prove to be even more bewildering.”
“There is no economic basis for this phenomenon.”
Will Davies is now a property entrepreneur and owner of leading property maintenance firm, aspect.co.uk.