According to Vince Cable, house ownership is now at an unattainable level and is more than likely leading to a housing market crash which will make the 2007 crisis look infantile.  Conservatives and Democrats are in a debate over the housing price issue with each side digging in their heels as well.  The most recent report indicated the contrast in housing prices between London and the rest of the UK is more than it has ever been.  Beyond that, the average prices of both are growing at an unhealthy rate which many believe could lead to a housing bubble. 

Overall, the UK housing market is unbalanced according to some which begs those in the market to find a solution on how to balance supply and demand.

Cable has been outspoken about house affordability for young people searching for a rung on the housing ladder.  He commented on the issue, saying:  “We have taken some very good measures in government like allowing those areas with severe need for additional housing to increase borrowing against their assets to build new houses. We’ve made financial help available to small businesses in the building trade to increase competition and introduced one for one replacement of council housing every time one is sold. The number of council houses actually fell under Labour. But more needs to be done. We must build many more houses - that and only that is the solution to our housing problem.”

In addition to building more houses as a potential solution to the overall housing problem, more house owners need to examine a remortgage for their own financial benefit.  Many house owners could ultimately find a much lower percentage rate and save on the mortgage expense each month.