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Lord Stanhope claims credit for the Global Financial Crisis?

johnboy 19 March 2009 1

Granted you have to gather ye rosebuds while ye may in this topsy turvy life.

But I’m still amused by Jon Stanhope’s latest offering claiming success in the Bonner land sale and simultaneous vindication of his “Affordable Housing Action Plan”:

    “The high demand for the latest land released by the Land Development Agency (LDA) at Bonner is evidence that the combination of an excellent location, quality urban design and affordable pricing can buck the trend of a softening real estate market,” Chief Minister and Minister for Business and Economic Development, Jon Stanhope said.

    “The release of 62 residential blocks at Bonner by the LDA, and the subsequent sale of 55 of these blocks in just over two weeks, shows that the increase of residential land released to the market, a key element of the ACT Labor Government’s Affordable Housing Action Plan, is working well to both meet demand and to stabilise prices,” Mr Stanhope said.

My mail is that the lower end of the market is running quite hot right now anyway as desperate young couples try and leap through a break in the market (both in prices and interest rates) and wiped out older investment property owners try to offload to get some spending money for food.

I’m not so sure that all the land in Bonner being snapped up is vindication of affordability policies working either.

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One Response to Lord Stanhope claims credit for the Global Financial Crisis?
housebound housebound 9:14 am 19 Mar 09

Desperation for good news?

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