Originally Posted by
DryCleaning
It is only in the past 12 years that interest rates have been as low as they are. Interest rates historically were around 7-10%, on occasions rising to 15%. It is accepted that housing is the single biggest cost, so I can't see how interest rates being a fraction of what they were back then has made the situation as bad today as you are alluding to.
You need to move away from the Thatcherite policy of homeownership that you favour. Whilst home ownership is nice to have, take a leaf out of our continental cousin's playbook where renting is so much more the norm.
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