Property Match (UK) blog:

In a nutshell, The Coalition Housing Minister, Grant Shapps MP, potentially has the economic stability of the whole country in his hands.
Why?
Because the stability of the whole of the UK economy depends upon getting the housing market going again and because the property sector (and spin-off economic activities arising from it) amount to what is [...]

Morgan Stanley’s opinion is very well-respected in financial circles and their investment strategies are particularly successful. To dismiss what they say, out of hand, would therefore appear to be somewhat foolhardy. They say,
“Stagnation in the UK housing market is in fact due to asking prices being unacceptably high and out of kilter with what [...]