.......and now the bad news. House prices are going to crumble in the UK.
After being artificially supported through the last year of Labours term, free market forces are about to be unleashed. Already unemployment jumped 58k this week to a 16 year high at 2.51m, and agressive cuts in the public sector are all but certain. Credit is going to tighten as banks become less willing to lend as a result of less cash being available as taxes rise and imminent bank levies about to be unleashed, restricting mortgage appetite and availability.
Reposessions have already risen in Q1 2010 to 9800, and are heading one way.... The bubble was never allowed to be deflated properly due to an interfering government......... it is now. At some point there will be an inflation storm, following the trillions that have been printed by Central Banks but that comes later. First............... the pain.