How to reduce the UK's reliance on high house prices

The head of campaign group Positive Money looks here at why the centrality of the housing market to the UK economy results in dysfunctional outcomes, largely because so much of the country's wealth is tied up in housing, and the fact that this wealth is so unevenly distributed.

As a result, she sees the likely rebalancing of house prices as a good thing - a first step towards making the housing market work more efficiently, not least by reining in lending and, potentially, making housing more affordable. That said, this is not going to be an easy sell politically.