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European Journal

Britain: The punters are back

The British government says it will make the dream of home ownership a reality. But experts are warning of a housing bubble and the banks already scent huge profits.

David Cameron's government is guaranteeing and boosting mortgages even for buyers with a downpayment of just 5 percent - in other words, those who can't actually afford a house. That's fanning the flames on London's already overheated property market. The city is becoming increasingly unaffordable for ordinary citizens. House prices are rising by more than 1,000 euros a day.