time 2 raise interest rates

Deleted, ott.

Seeing as Labour haven't got anything right in 12 years of shambles, I don't see them getting this bit right. Brown sat back and let the banks run riot while he was Chancellor, and he's now trying to spend this way out of his mess with tax payers money, he should be locked up. Blair may have nicked a few votes from the Tories because he had a bit of charisma Brown on the other hand said there would be no more boom and bust. We're in the biggest bust in a 100 years that he blames the Americans for. Brown won't even be able to get Labour voters to vote for them, let alone nicking votes from the Tories. What we need now is someone to do the right thing for the country as the Tories did in the '90s. House prices need to fall, and fall fast so the economy can rebuild. There's a lot to be learnt from the '90s. The Tories let house prices fall even though it meant losing the election as they understand economic cycles. Whereas all Brown's interested in is helping Tory voters vote Tory.

With 3 million unemployed by year end they won't be selling. With a million home owners now with negative equity they won't be selling. With the banks broke with no money to lend buyers they won't be buying. I get your point. They've got no option but to hold out as the recession deepens one may say they're totally screwed. Well done, Gordon unelected Brown, and your merry bunch of unelected Lords running the cabinet. High house prices will lead to the demise of the Labour party and it will be a great day indeed.

I agree with the total obsession having ruined the country. It's the pigs in the trough that think high house prices will keep them in power. But as reality dawns what will they do? It was high house prices that broke our banking system. It's high house prices that has split the country in two. We've got the haves and have nots. Brown deserting the working classess is how he will be remembered. It's not rocket science getting the country back on an even keel so everyone can own a house. Labour have to either stop flooding the country with cheap migrants suppressing their pay to a pittance or let house prices fall so the said working class Labour voters can buy a house too. It's either or either, or the country will soon be run by even bigger basket cases than are running it now.

We're in the worst recession in a 100 years and people are "fighting" over property, yes i'm sure they are maybe a repeat prescription will help, you must have run out of medication.

What no bulls on this one, quick, quick, buy a house before you miss the boat, the recession is over, my mortgage is suffocating me, jump on the boat fast you know it makes sense.ffs

Is a 40-50% crash in US house prices a crash? Yes because the sooner it's over the sooner they can rebuild their economy, but the they don't have a deranged leader fighting for votes, that will all go to the tories regardless, bring back Mr foot he'll win Labour more votes than Brown will. Bush did the right thing and let house prices fall as did the Tories in the 90s they under - stand it was painful for many but was in the countrys best interests.

Our economy is house prices keeping them high will just prolong the recession for years and years, the sooner they fall the better, as in the USA they did little or nothing to intervene in their house price crash as they understand the western economy revolve around house price cycles. As in the 90s the faster house prices crash back to 3.5x the average wage the faster the economy can rebuild. Browns attemp to win votes with high house prices will turn the UK into a basket case for many years to come.

So with wages plummeting does this mean we will soon have 150% loan to value and 20x income mortgages?

Brown thinks high house prices will win him the next election when the fact is he could give everyone in the country five houses for free they still wouldn't vote him in. He needs to do as the Tories did in the 90s and let house prices fall so most good hard working folk can buy one too.

How can the working class improve their lot when their wages are being cut, they earn around £15k a year and the average house price is £160,000? Please let me in on your fantasy

You know what i wonder if high house prices will all have been worth it when the far right are running the country, with the average working class Labour voter on around £15k a year and the average house price around £160,000 it won't be long now. Brown and the BoE won't be remembered for the men that saved the banks but the people that turned their backs on the working class and the uprising of the far right. Still I dare say this will bring house prices down somewhat.

Todays lower prices, will this allow working class Labour voters to buy one, don't forget most are on low to middle income say £15-20 k a year?

Gordons messing with it, Gordons trying to keep middle-class Tory voters in their house at all costs stopping them getting repossessd and all that, don't know what he's doing for working class Labour voters. Gordon are you going to let house prices fall so they can buy one too?

And that £25,000 saved as i said above will save you £31,250 over 25 years as a 25 year interest only mortgage at 5% on £25,000 will cost you £31,250 in interest and you still owe the bank £25,000.