House Price Growth Approaching Madness.

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10681756/UK-house-price-growth-approaching-madness.html


Here we go again the eternal problem with House Prices, when the economy picks up a bit, House Prices soar, when the economy drops house prices suffer. There must be a new way to ensure stability , stop reposessions,, it's crazy. In America more people rent than buy , except for the very rich of course. A while ago my Niece and her Partner were thinking of buying and went to a Building Society to find out how much they could borrow. Their joint income just missed the minimum deposit required and the Advisor said if the Partner could get a letter from his Employer to say he would be having a rise in the near future , his application would be accepted. !!!! Sensibly the couple decided not to proceed .