Housing crisis

It's good to see New Labour arsewipe The Observer taking an interest in the housing crisis. With around 100 000 'houselholds' effectively homeless and thousands of others out on the streets amidst a free market housing disaster it's a topic that needs the publicity. So hats off to the Absurder for some good old fashioned social reporting. But soft! The headline reads 'Homebuilder face £3 bilion landslide...government scrambles to stem growing crisis". But of course, this crisis is a financial crisis that according to "Figures calculated by broker Panmure Gordon on behalf of The Observer suggest that if, as expected, the housing market falls by 17.5 per cent - seen as a conservative estimate - land values will deteriorate by £3bn."

The bubble's burst. But just like at the time it was being inflated, those at the bottom of the housing heap will not get the government scrambling to help out with their housing crises.