Britain’s booming housing market represents the “biggest
risk” to the economic recovery, Bank of England governor Mark Carney has
warned. Carney said he was concerned about the dangers of a “big debt overhang”
building up as approvals for large mortgages increase. He said the Bank was
monitoring the situation but there was little it could do about the “deep, deep
structure problems” in the housing market, with demand outstripping supply. Carney
noted that in his native Canada there were half as many people as in the UK,
yet twice as many houses are built every year. Read more on the Building
website.
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