Assembled in the USA from 100% Chinese parts.

3:45pm: Sometimes the right thing to do is not read the comments. Other times the comments are better than the post.

It's complicated.

3:46pm: If you get an unexpectedly emotional response to what you thought was a reasonable proposal, it's often useful to find out what issues you might not have noticed. There's probably something else going on.

10:39pm: From an article on George Osborne’s “Help to Buy” scheme...
...this chart, with data from Torsten Slok at Deutsche Bank, comparing house price to income ratios in selected American, Australian, British, Canadian, Irish, and New Zealand cities.


(click to enlarge)
From http://www.bondvigilantes.com/blog/2013/07/10/first-home-owner-grants-a-gift-to-new-home-buyers-or-existing/:

The UK’s Help to Buy scheme will take two forms. The first part will offer buyers that qualify an interest-free loan (up to £120,000) from the Government. The second part will see the Government act as guarantor for a proportion of the borrower’s debt.

Well, that's one way to pump up a housing bubble market!

(achinhibitor, the post will probably interest you.)