I don't think house prices in the UK are going to fall 50%. Unlike other countries that had a house price bubble the UK did not have a house building bubble, and it didn't have a house building bubble because there is not enough land to build on.
The UK has a population density of over 250 people per square km whereas the US has a population density of 34.
I agree with the other points you make though. Indebtedness in the UK is much worse than in the US or almost anywhere else.
Real estate in the UK and especially in London is very complex and unfair. Properties are usually on leasehold for a period within 120 years. It's one of the most unfair systems in the world. Families can't keep their full investment across generations.
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I don't think house prices in the UK are going to fall 50%. Unlike other countries that had a house price bubble the UK did not have a house building bubble, and it didn't have a house building bubble because there is not enough land to build on.
The UK has a population density of over 250 people per square km whereas the US has a population density of 34.
I agree with the other points you make though. Indebtedness in the UK is much worse than in the US or almost anywhere else.
Real estate in the UK and especially in London is very complex and unfair. Properties are usually on leasehold for a period within 120 years. It's one of the most unfair systems in the world. Families can't keep their full investment across generations.
Totally different point, but holding anything across generations is very unfair in itself.