TITLE

Untested HIPs could harm the UK economy

AUTHOR(S)
Knight, Stephen
PUB. DATE
July 2006
SOURCE
Mortgage Strategy;7/3/2006, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The author discusses how Home Improvement Packs can harm Great Britain's economy. The cost of these packs might adversely affect borrowers experiencing credit difficulties and seeking to trade down, as well as elderly people selling to go into care homes. The research conducted by Oxford Economic Forecasting found a relationship between unemployment and housing transactions and concluded that fewer housing transactions means the natural rate of unemployment increases, which creates inflationary pressures in the economy and necessitates higher interest rates.
ACCESSION #
21698962

 

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