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The end of the housing affordability argument?

Posted by Graeme in Business & Investment,Economics at 7:04 am on Friday, 6 July 2007

The Council of mortgage lenders says that yesterday’s interest rate raise “will leave more households financially stretched“, with an especially marked impact on the two million people close to coming off fixed rates. Are we hearing the end of the argument that housing remains “affordable” thanks to low interest rates, despite the high ratio of prices to incomes?

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