Abstract
With its origins in the collapse of the US sub-prime market, the global financial crisis might more accurately be termed a global housing crisis. Over the last decade, most developed countries experienced house price inflation; however few matched the UK, whose boom started earlier and was more sustained. A taxpayer-led recovery stopped a UK price correction in its tracks; however it will be argued that these measures only delayed momentum towards a reduced housing market under the Con–Lib Dem coalition.
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