In a single source, this book provides, a thorough, non-mathematical guide to understanding the effects of all the recent changes in the housing and mortgage industries. The author examines issues like the role of government in supporting owner occupation through tax subsidies, and the Right to Buy policy. He uses key events - like the exit from the ERM - to show the importance of housing to the economy. Reference is made to evidence from other European countries to explain how a mortgage system works, as well as to examine the implications of the UK's membership of the EU.