If you have bought a house for way over its true market value in the last few years..

[Yorkie]

Of course it has, 20 years ago it was no problem.

20 years ago I couldn't afford to sell my house in Yorkshire and buy one down here. The big difference for me in 2002 was the big redundancy payout and clearing my mortgage. Ned is young enough to take out a 25 year mortgage to get a house in Newhaven where prices are 60K below those in Brighton.
Not everyone in the south east is a professional or works in the city.

 

[Uncle Spielberg]

I thought Lamont put interest rates at 15% only overnight after the apolectic mistake the Conservatives made which was the beginning of the end for them.

I am sure it dropped down the very next morning

The exchange rate mechanism. We were out too high against the strong German Deutsmark and could not sustain it. Rates went from 10 to 12 to 15 % in one day. The city traders made so much money they retired at 30 and we bailed out of the erm.

 

[Mr deez]

Who'd have thought that Mervyn 'the king' King was also governor of the bank of England?