The papers report today that UK mortgage approvals have fallen to the lowest level in 2 years. Is this finally an indication that the housing market is slowing down/turning around? It seems to me that this would be a good thing for now as the rate at which it has expanded is worryingly bubble like. Not that I have a mortgage but I can see the effects a violently crashing property market may have on my poor savings.
Much better to slow it down gradually if you ask me - and also maybe it might give people more of a fighting chance to get onto the property ladder.
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