Will Averting The Housing Crisis Only Be the Way for UK’s Economic Growth?

According to the UK government, the UK’s unemployment rate has fallen down to 7% while wages are still stagnant or minimal in its increase. The Bank of England announced that it will retain its interest rates despite the UK reaching its unemployment target. The best thing about it, for most people, is that the Help to Buy Scheme, which lower the mortgage rates to 5%, will be extended until 2020.

The extension may mean the increase of property values until the real estate bubble bursts. Homebuilders may benefit with activity, but this can mean trouble for the environment. Building activities could reduce the forests and natural earth resources in the UK.

The housing crisis is indeed a major trouble, even for me, but I’m thinking of sustainability instead of dealing with economic troubles by selling a house for a higher, or better price. Obviously, the trouble is with the greed of many, which may stimulate good competition, but at the expense of the environment and the future of the planet.

With increasing properties, the early values of labour and resources are downplayed once the housing bubble bursts as the country’s spending capability reduces. The UK’s economy may be recovering, but its foundations are quite weak in my opinion.

We will need more than just increasing our property’s value to completely recover our economy.