Such a terrible economic crisis we're having '“ or is it?

We are now advised that credit card holders should reduce their debt, and first-time house buyers should envisage a down payment of as much as 25 per cent to get a mortgage.

Or presumably they will get a mortgage only two or three times their income.

Terrible?

Being behind the times, I always thought that such conditions were responsible finance, rather than a mere free market, with banks going bust.

R. W. Standing, Sea Road, East Preston

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