Calls for rate rises are not that absurd

Inside, I saw that National Institute of Economic and Social Research director Martin Weale is advocating raising interest rates above 8% in light of recent house price increases. Such news will be greeted by outcry from the readership and personally, I think the interest rate cycle is probably approaching its zenith. But what seems like an absurd suggestion may not be quite as far-fetched as it first appears. The buoyant property market has seen fantastic returns for the 11.7 million mortgage holders in the UK, and now many more people are choosing property as an investment for the futur...