17
Jul
Media 'must take some blame' for housing troubles
The chief executive of Firstrung has suggested that the media is
partly to blame for the current problems in the housing
market.
Paul Holmes supported the recent claim by Evan Davies, presenter of
the Today Programme, that the press has given a false impression
about the profits to be made from property in recent years.
He noted that popular home makeover programmes have given the
impression that with a lick of paint and some cheap furniture,
anyone can make money from property development.
"They've made people feel a sense of invulnerability where property
was concerned - you couldn't go wrong," Mr Holmes added.
He also suggested that this has been exacerbated by the easy
availability of credit in recent years, which has made investment
in the housing market accessible to a new demographic of
people.
