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APR 22, 2013 - Zero Hedge

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Housing's Trek From America's "Socialism", Through UK's "Communism" Ending in China's "Capitalism"

Socialism is a dirty word in many parts of the US, but as the FT reports, the government has turned its mortgage market into a giant nationalized enterprise on a par with China’s Red Army with over 90% of mortgages subsidized by the state and aided by so-called "progressive" or "redistributive" policies. In the UK, the government have also become entwined with the housing market, albeit in different ways. Rates have also been slashed close to zero; tens of thousands are buying homes arm-in-arm with the state under 'shared equity schemes'; and one-third of all mortgages come from the two ... Read More

Tags: Housing's Trek From America's "Socialism", Through UK's "Communism" Ending in China's "Capitalism",  Royal Bank Of Scotland Latest News