http://www.telegraph.co.uk/news/electio ... -each.html


This will have to be addressed. Labour will have a tough time dealing with it, and the Tories will bring the country to a halt as council workers go on strike as a result.


The problem is that unless asset prices adjust to a lower level this will mean we have more than a decade of stagnation as prices hold until they are in balance. The alternative is another slump in property prices before a sustainable property market is created. That will mean deflation and a lot of pain. Either way local government will be increasing rates to just stand still, and cover pensions.

That story contains far too many "if" and "could"s.