Back in 2012, a key question for Britain's brainiest
economists was how to get the housing market moving again. But just 18 months
on, the return to booming prices has been so sudden that the Bank of England is
now hinting it may step in to do exactly the opposite: to slow things down.
According to one of the Bank's own top brains, no-one had predicted the
"microwave" effect.
Spencer Dale, the Bank's chief economist, said that just
like cooking food, the housing market can pass from cool to hot in the matter
of a "few economic seconds". So what steps could be taken to cool the
market down - or at least to lose the excess steam which all of a sudden has
made it such a safety hazard? Read more on the BBC website.
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