The Land Registry reckons that London house prices are up 2 percent in June. Oh how I hope that this isn't true, yet I have suspected for a couple of weeks that the property market in London was turning.
I fear we are heading back to bubbleville. Everything is coming into line for a ferocious surge in house price inflation; goverment guarantees, ridiculously low interest rates, and banks under pressure to lend. Once expectations of higher house prices takes hold, the UK will dive back into the abyss of a new bubble.
Why do we do this to ourselves? Do we ever learn?
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