What will average house prices need to fall to for the next generation to buy own home?

phillw

BikingBud wrote: »

But most don't remember it all just fades into the past and we make the same mistakes all over again.

Right, people delude themselves as they minimize the past (hence why we're leaving the EU). However lenders have been forced to put affordability checks in place & also they have a duty to work with borrowers when they are in financial difficulties. So the exact same thing as the 90's shouldn't happen again.

That doesn't mean that we won't find new ways to outdo ourselves and leaving the EU would certainly do that. I may be wrong, but I think the 90's will have taught us enough of a lesson in how to deal with a problem of that scale that we're in a better position to deal with the problems with housing. Of course it won't help with the other systems failing.