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UK: Politicians blow bubbles into housing market

Posted on 28 February 2013

Do you remember the housing slump? You probably don’t if you live in the London Borough of Kensington and Chelsea, where house prices last year rose by 13.4% according to the Land Registry. In north-west England, though, there was a fall of 3.5%.
In general, however, the signs of an upturn in the UK property market are becoming stronger. First-time home buyers are finding loans much easier to get, so that 12% more first-time purchases were completed last year according to the Council of Mortgage Lenders, and one in five of the buyers borrowed 90% or more. This is what the politicians want, but at what point should the regulators start to worry that the lenders are rebuilding the mountain of risk that led to the pre-2007 bubble?……………………………………….Full Article: Source


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