You’ll own nothing and we’ll be happy…
Rising mortgage payments are squeezing the finances of millions of borrowers in Britain, threatening to undermine household spending and the broader economy.
The dream of a soft landing that would have the Bank of England squeeze out inflation without condemning the country to a recession looks increasingly remote. Inflation has been more stubborn than expected and is forcing the central bank to go with a bigger-than-expected rate hike that took the key rate to 5%.
What does this mean for British housing affordability?