By any measure, the recent global recession was a once-in-a-century event, and it should be treated as such.
What of the localised property-bubble in the South-East in the early 90's? The rest of the country didn't have that problem, yet you would need to apply legislation across -the-board. That would merely penalise sellers in markets which were in balance. In fact, legislation would throw them immediately out of balance, for the reasons given in my previous post.
As for the rent/mortgage debtate - you're quite right, everyone has to pay something. But the original point was that the average cost of a house has increased by a factor of 42 since 1970 in comparison to a rise in wages of a factor of 12 (which the right were trying to tell us was irrelevant because people who own their own properties generally make more money). Whilst house prices themselves are not the correct indicator (rent/mortgage prices is), it's probably a reasonable refelection.
Therefore we can conclude, quite accurately, that the amount of money that people have to pay out to provide a roof over their heads (regardless of mortgage or rent status) has increased at a level far beyond that of wages.
Which was the original point that the right wingers are trying to deny existed. Which is the type of idiocy which led the right wingers to crash the world's economy in 2008-09, from which Britain is still recovering.
And you want to give them free rein to do what they want because the market will correct itself????? Unbelievable Jeff! 
