for a while, at least

In this country as in no other,
we have learned to treat
our houses as tradeable,
money-making assets,
instead of as primarily
just our homes,
where we live – even,
as people used to say,
where the heart is.

Anybody who has simply wanted
to live like that
over the past decade
has been made a fool of
by the market.

The effect on how we regard
where we ourselves eat, sleep
and have our being has
in some ways
been worse.

For a while at least,
it’s over.

— David Sexton, This Is London

Published in: on August 30, 2008 at 9:31 am  Comments (2)  

clearly excessive

We’re in a period where house prices
are clearly adjusting to a new level,
and buyers and sellers are struggling
to find out what that new level is.

The market will determine it,
not us or the government.

Once we’ve reached that level,
prices should normalise.

But that does not mean
back to levels seen early last year
that were clearly excessive.

— Mervyn King, governor of the Bank of England, quoted in The Guardian.

Published in: on August 17, 2008 at 8:49 am  Leave a Comment