But now, finally, the disbenefits of rampant house price inflation are starting to be shared by everyone, rather than by only those locked out of the leverage-fueled bonanza. The huge cohort of winners have done so well out of it that it is now actually creating a labour shortage as described, outweighing the "wealth effect" which was supposedly so beneficial to the economy throughout the boom. So now maybe The Government and The Bank will not be quite so inclined to keep pumping it up any more.

I disagree, there is building everywhere you look on the main train lines into London. But the population needs to stabilise, and even then it would still take a while to catch up.

British population is up by just under 10 million this century, that's a lot of new houses, and population density in houses is falling - its a far cry from the working class slum conditions of the 19th century, even in London these days.