We are in a housing bubble, claims economics professor

We are in a housing bubble, claims economics professor
 

Most regions of the UK are already in a house-price bubble, according to an economics professor from Warwick University. Prof James Mitchell said house prices were overvalued when compared with incomes, raising the risk of a fall at some stage in the future.
Of 13 regions in the UK, he said 10 were currently overvalued.
However, most other economists believe property prices are still affordable, given very low mortgage rates.
"The results raise the risk, although not the certainty, that house prices will fall," said Prof Mitchell, although he said it was difficult to say when that... read more

 
11 December 2013 in Business, Views: 34
Source: BBC
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