Have your say: 'The prospect of falling house prices is good news'

Your comments on yesterday's report about the state of the property market

Yes there is going to be a horrendous crash, due to enormous debt levels created mainly by lax lending. Of course this is unsustainable and now, with the credit crunch and rising interest rates, the chickens have come home to roost. - M Morgan

In all industries in capitalist countries there is always a correction factor when prices expand too rapidly. It is a normal process in supply side economics. Yes, there will be a cooling off of housing prices, and yes, they will go up again hopefully more slowly next time. It isn't the Government's fault. We all need to take responsibility for how much we buy on credit. - Dr Paul Camic

Even if house prices fall they've still got a heck of a long way to go before housing is generally affordable. I recently left Hackney, which certainly isn't a posh part of London. A nice one-bedroom flat was around 250,000 and a modest three to four-bedroom terrace at least 600,000. If house prices really reflected average earnings there, I'm sure they would be around 50 to 40 per cent cheaper. - Mike

The prospect of falling house prices should be put over as good news, just as it would be if oil was to fall back to $50 a barrel or electricity and gas prices were to fall back. It means less debt taken on by new buyers, therefore lower mortgage payments, leaving them with more disposable income for other things and therefore a stronger balanced economy. - Pete B

A record trade deficit, record personal debt levels, low levels of investment in start-ups and spin-outs, the wholesale sell-off of important UK companies to overseas owners, the collapse in manufacturing... They do not to me sound like "competent economic management". - Dick W

We have a robust economy NOT in recession even the worst estimates on growth are positive. Interest rates are historically low, and the trend is for further cuts. Inflation is in the 2-3 per cent range, not double figures. Unemployment is in check, and we have to import workers to meet demands. - SSS