Duncan has an interesting post about the desirability of falling house prices. He's right, but I wouldn't want to argue the point on the doorstep if I was standing for election. But we do need to get more of the nation's wealth into productive enterprise and have less locked up in housing.
I posted a comment referring to the government's mortgage rescue scheme and he asked for more details. When I tried to post them I was denied entry to his comments for reasons I don't understand. So, just in case he comes by, the link to the basic details of the scheme are here, and the trade paper lays out its flaws here and here.