New mortgage deal will ultimately subsidise developers
Published 13/05/2014 | 02:30
IF houses are unaffordable then – all things being equal – either prices are too high or incomes are too low.
Sure, credit plays a major role in the property market, and when the banks were at their most battered, the lack of credit killed the market.
But there is no hard evidence that people applying for a mortgage are being turned away in unreasonable numbers.