"The UK property market is likely to bounce back before those of other countries because "we failed" to build enough houses, Gordon Brown has said.
The prime minister told a City audience the US and Spain had "overbuilt" homes during the years of rising prices.
In contrast the UK had a "pent-up demand", as not enough had been built.
He said the UK problem was not shortage of demand for homes at "the right prices" but a shortage of mortgages "at the right prices for people to buy"."
Midweek 6th November 2024 US Election
2 hours ago
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