I agree why do we need to pump money into housing. It is still over valued in relation to wages. Probably needs to come down another 20% making about 30% in total. This will only take us bak to what it was 4 to 5 years ago.
The 10% drop just revered the increase of the previous year. Why do we welcome drops in oli and food but not housing? Strange is it not.?
The people who should be strung up uo the banks etc who lent anything over 80% max in the past. Some people apparently got 125%. Of course even if these people are dismissed they have fat pensions.
Perhaps to late for government to intervene but should be a law that 20% must be cash deposit, if that reduces the market fine.
I have been saying for over 10 years this would happen but I was just dismissed as a scare monger.