reuters.com: Home loan approvals dive to record low in May

Two thirds of Britons own their homes, putting millions at risk of negative equity -- when the house value falls below its mortgage -- if house prices crumble. However, that may be a way off yet, given that prices trebled over the last decade.
TOUGH TIMES
While soaring commodity prices across the globe have forced inflation to the top of the political agenda and convinced financial markets that interest rates are heading higher, most economists expect rates will eventually have to fall.