True, but irrelevant to the point we were discussing. One caveat, though: a simple comparison of house prices with average earnings, going back to the 1970s, is not very informative, partly because o… (View Post)

I agree. but what is needed is a period of stability in nominal prices (i.e. a gradual reduction in real terms), or at most a gentle reduction in prices. It's probably not what we're going to get tho… (View Post)

Yes, of course, but I think it will take nearly a decade, as it did 1997-2005. Of course, in the meantime it's possible that PR will have been introduced, in which case a new centre-right party will … (View Post)

She should have done what Rishi was doing in the early stages of the leadership contest: being honest with people and making clear that there were no free lunches. If she'd prepared the ground, and a… (View Post)

The trouble is that a big fall in house prices combined with higher interest rates doesn't help younger buyers, quite the opposite. What happens is that the mortgage providers get nervous about affor… (View Post)