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London Report: Swedish Furniture Fueling Housing Boom

The shocking news from London that some homeowners are spending up to 33% of their incomes on mortgages is apparently rattling some tea saucers. (Uh, sounds like a fire sale to us.) Not to worry, says Telegraph columnist Rosie Peters. These adventurous buyers can afford it, she reasons, because they're young, single, and can buy cheap furniture. She writes,

Many things are so much cheaper now that it is easier to live on the remaining part of your salary. Your shopping bill, for instance, hasn't increased in line with inflation, and, thanks to Ikea and Habitat, you can afford to furnish your new flat without saving up.
Ah, Ikea, making the entire world safe for inflated home prices.
· Snakes & ladders [Telegraph via The Rat and Mouse]