I could not believe my ears, for the first time I have heard a SKY news reader say
"More bad news for homeowers....well it depends on your point of view.. house prices are falling then if you are looking to get on the ladder it's not a bad thing."
At last. It has taken a year.
look it is quite simple.
House prices rose too much because of banks lending up to 6 times earnings without checking those earnings.
People were priced out.
Yvette Cooper thought that was because the economy was successful and her solution was to allow those priced out to buy half a house.
Lenders realised their error after Northern Rock went pop and now lend sensibly (less).
House prices will now fall to affordable levels.
Those priced out can buy a whole house.