In article 3,
Tom wrote:

Informed opinion is
that a genuine crash in the UK housing market would stabilise with
prices about a third of what they are at present.

Oh, that's interesting. What is the reasoning behind this
"informed opinion"?

Actual cost of building a house, comparison with other, similar
countries and the increase in house prices relative to other
inflation over the past half-century. I can't remember more details,
but I assume that the figure is for the "in demand" areas.


Regards,
Nick Maclaren.