Mark Carney, Governor of the Bank of England said on house prices recently, "...if they are turning into something unsustainable..." he would act to curb mortgage lending. The Bank of England Financial Policy Committee said they are noticing "...higher loan to income mortgage ratios...". They may have to act to curb mortgage lending. Did they not notice what happened leading up to the Credit Crunch which precipitated the Great Recession?
The Office for National Statistics has said that house price inflation [March figures] is now 8% and 16% in London. There has also been an unexpected rise in inflation to 1.8%. This, as no action has been taken by the Bank of England, is considered sustainable? Are they complete morons? Still I did warn about the Trojan Horse that is Carney before his appointment!
I could wrong but I think I heard that the figures are now 9% and 18% in London. It's a housing bubble, I mean come on!
"Demand for housing is all about the price of credit." Merryn Somerset-Webb, FT, Moneyweek. Forget supply and demand for houses being the supply of houses. It is not!
Mark Twain on land "Folks will always want it and they ain't making it anymore!"
"Who owns Britain" by Kevin Cahill
Simon Evans goes to Market - Episode 1 Land
http://www.bbc.co.uk/programmes/b0435p0k
"The Price of Inequality" by Joseph Stiglitz - I should probably read this book!
As the Bank of England have now confirmed that Positive Money's research on money and banking is correct. Go visit the following to arm your self with some actually facts! http://positivemoney.org
