syd mel housing crash, page-70

There was an interesting period in the UK after the GFC when the country went into recession. Property owners refused to drop their prices and willing buyers had problems securing loans as lending criteria became more strict. This resulted in a stalemate and some stagnation in the market.

QE eventually somehow greased the wheels of the market as the economy recovered, and now with populatuion growth, house price growth is rampant - especially in the south of the country.

I think some parallels can be drawn.