The FSA won't kill the housing market recovery – it's doomed anyway

The FSA has finally decided to 'do something' about reckless lending. But its proposals are too little too late. And whatever anxious property bulls may claim, they will have no impact on house prices.

Another empty stable door is about to be shut. Having failed to do anything in the good times about mortgage deals that offered 125% of the value of your home, six times your salary, or no proof of income, the Financial Services Authority (FSA)has finally decided to "do something" about reckless lending.

But its proposals are too little too late. And whatever anxious property bulls may claim, they will have no impact on house prices.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.