There are plenty of houses for the people who work. None of my neighbours deign to take a job. Why are taxpayers forking out to pay for them to live in central London, that's what I want to know? Scroungers paying state benefits to BTL landlords. Scandal. Give the houses to people who work.

Pat, London,

In 1933, my uncle a jobbing carpenter, bought new a 3bed semi in Wembley for £780and raised a family 2 children! In 1968, I bought a 10yo, 2bed bungalow for £1400, on a farmworkers wage! I think the present high prices are due to overpopulation.

David Vinter,, Louth, Lincs,, UK.

As house prices fall, so will the percentage savings required for a first time buyer.

So David Stubbs is being disingenuous to say the least.

Malcolm, London,

Renting lines the pockets of the landlords. If all you can afford / find is a house with damp walls and an out-dated boiler there's nothing you can do about it. It gives you somewhere to live, but that's about it. I don't want to rent forever but I can't forsee there's anything other option.

Kathryn, Yorkshire,

"No more 100% deposits, so people will have to learn to save and wait."

If you have a 100% deposit you can still buy what you like!

Phil, London,

Dennis in Belfast - spot on mate!! Well said. As for Edward in London - negative equity? Listen mate, you buy a house, you agree a price, you pay it. If the house drops in value, tough. Live in it. Anyone who looks upon a house to live in as an investment deserve to get shafted for stupidity!

a. macgrory, GLASGOW, SCOTLAND

Jane.
its not the governments fault, i predicted this long ago, its simple, if the price of houses continued to rise, no-one would be able to afford to buy (FTB). How, may i ask is life long renting going to cause poverty?
this will only do good for people in the UK, i may actually be able to buy

rebecca, stoke-on-trent, uk

I am very pleased with the current senario. For once the average FTB will not be allowed to bear the brunt of past rampant speculation. Lets see just how far this falling dagger plunges.

D Louis, Coventry, UK

If FTBs can't afford to buy, existing owners can't trade up, and developers can't sell new stock. Prices must fall to balance suply and demand.

Who expects to save a deposit in 1 year. 5 years is a more realistic timeframe. No more 100% deposits, so people will have to learn to save and wait.

andrew, brisbane, australia

Weve gotta take control of the ability to print money back from the private banks. IT's that simple. otherwise nothing is ever going to get better. We know that governments have throught history waged a constant war with private bankers for control of the right to print money.

simon lomax, warrington, uk

The ONLY problem for first time buyers, or anyone else, is that house prices are far too high. Yet the media continue to brainwash people into thinking falling prices are a "disaster". Even negative equity is not a disaster - except for the BTL lot or those who bought as an investment. Tough.

denis, belfast, uk

It is not the mortgage rate that is causing the pain, it is high house prices that are the problem.
Relax, and let market correct the problem, and FTB's will have affordable houses for the first time (since the last time 1992-97).
Its a property CYCLE, we are at the top, Just wait!

Michael, Bay of Plenty, New Zealand

It is probably about time that a culture of thrift and of looking to the future was reintoduced. Back in the early 80s when I bought my first home I had to stump up £3000 on a salary of £4500. It is called responsibility, and from responsibility for your own savings comes a larger responsibility.

Martyn, London,

Why buy when it's now much cheaper to rent if you want to gain your independance,live together or get married renting is now the best option for you. Most people in the UK earn far less than the average wage so why keep quoting something that do'es not apply to the vast majority of the population.

Dave, Mold, UK

This is to be expected in the short term. Banks are returning to normal lending standards. House prices will fall to reflect this. Don't feel sorry for people wanting to buy, feel sorry for those who have and are now going to go through life dragged down by the stone of negative equity debt.

Edward, London,

Cheers Labour Government!

The biggest problem with the absence of home ownership, aside from the misery, lack of independence and difficulty to raise a family, (as if that were not enough) is the crippling effect of life long renting and the poverty it will cause.

jane, oxford, uk