I have just finished watching Rosie Millard and her very clever friends on Tonight with Trevor Mconald.
If this does not clearly show us the way to the housing crash I honestly dont know what more evidence you need!
I know everybody is going to say "oh, but I'm not like that"....but the point is, you dont need LOTS of people behaving like "that" to artificially inflate housing, or for that matter, the retail economy.
She was - quote - "OVERSPENDING" by 25k a year!
I am by no means a poor person (I'm not a squillionare either) I could not dream of spending 25k a year on non essential items. Indeed my total budget including car (merc convertible) house (4 bedder) and a "nice" standard of living does not cost me 25k a year IN TOTAL!