Crazy prices

The European Commission has warned that house price inflation will damage the UK economy.

They may be right - a broken clock is right twice a day - but it does seem impertinent that people who have made such a mess of the Eurozone economy (the ECB is about to take Emergency measures to avoid the spiral to deflation) should lecture us. The unfortunate folk in Europe would like a bit of house price inflation.

The facts, in case anybody is interested, are that if you bought a house in 2007 it is just now - this month - getting back to the level you paid for it. I don't call that crazy.

Source: Nationwide.co.uk