How competition in the mortgage market pushed up house prices

Healthy competition in a free market is supposed to drive prices down for the benefit of consumers - or at least that’s the theory.

14th July, 2007

Healthy competition in a free market is supposed to drive prices down for the benefit of consumers - or at least that’s the theory.

Which is why it seems almost heretical to ask whether competition in the mortgage market could actually be driving house prices up.

It is an article of faith that the mortgage market is currently characterised by a great degree of competition, certainly compared with a decade ago.

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