By Sean O'Grady
Day Two of the IMF/World Bank circus, and I'm afraid that most of the UK press are obsessed with the slightly parochial question of British house prices. You too? Ah, well perhaps I should let you know that the International Monetary Fund's economic counsellor tells us (reading between his lines) that your home is probably one third overvalued. I'll just let you have a moment to work out how many thousands you'll be down on your latest deal.
It's very much out of line with what all the UK estate agents, bulding socities and banks say, but then again they do have a bit of a vested interest. Unlike the IMF. But why is it unalloyed bad news anyhow? It's only a problem if you have to sell up, and it's a relief for for first-time buyers. That starter home may be soon within your grasp.
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