Ecologist: It is widely accepted that England is in the midst of a housing crisis. The economic instability of the last 4 years has revealed that the massive house price inflation celebrated in the early and mid-2000s was an unsustainable boom which, after the credit dried up, has left many excluded from the housing market.
In 1997 the ratio of median earnings to median house price in England was 3.54; by 2012 this had almost doubled to 6.74.
Post credit crunch banks are nervous about lending, and are...