The British Obsession with house prices and home ownership has lead to a boom-and-bust cycle and economic instability. This has been accelerated by easy credit. We need to return to conservative values of saving and not buying things on credit, argues Christopher Wheeler.
In the United Kingdom one of the prime national obsessions is house prices. When they go up, the media, the people and political parties regard this as proof that everything is right with the world. But when house prices fall, or even just stabilise, the very Continue reading →