Along with other commentators, I have been stating repeatedly that this is not a repeat of the 90s or 70s. It's the back to the Golden Oldie phase of the 30s.

Mathew Maavak, Kuala Lumpur, Malaysia

No this crash will be worse than the ninties! Prices have bubbled on the back of cheap credit and realtively benign economic conditions (again backed by cheap credit). Now house prices are completely out of kilter with reality the consumer is being squeezed and debt is in shorter supply

david barker, eastbourne,

I do love the expert writing the article!
Its worse and it will get worse, please put away the tarot cards and the crystal ball.

Andy Murray, reading, uk

I concur with Paul from Coventry. The recent property price boom was many times bigger and more out of control than the previous one so am predicting an even more spectacular correction. Astonishing that Ms Barker, the 'property expert' and the MPC haven't learnt anything from recent history...

cww, suffolk,

It's certainly is not the 90s again - this time it will be worse due to the massive surge in speculative investment into housing, unparalelled in any previous boom. But let the analysts stick their fingers in their ears in denial: I for one will be keeping my money out of housing and in the bank.

MB, Edinburgh,

Fionnuala, who should and does know better, is whistling in the dark. We need at once higher and lower interest rates. Either way house prices fall and defaults and repossessions rise. Banks, building societies and Treasury politicians have dropped us into a mire we won't escape painlessly..

Noel Falconer MEcon, Couiza, France

If you believe this "analysis", you'll believe anything. Rebecca, I'm amazed.

Davey, Epsom, UK

Ms Earley is maybe not the right person to get an unbiased view from.
180% price inflation in 10 years is also not comparable with the 90's episode.
Affordability - the new mantra - was based on longer term mortgages and lower rates.

Face it the binge is so over. Let's bite the bullet.

Tom Taylor-Duxbury, Ludlow, UK

Indeed it is not a repeat of the nineties, it is a repeat of the thirties.

Paul, Claygate,

ok so no one knows what will happen, analysts are guessing and suggesting they are somehow qualified to guess better than anyone ,despite their failure to predict the housing boom at any time in the last decade. This column will be full of opinions all day but it's all ifs and buts

mark connelly, surbiton, surrey

Why dont you tell us the parallels with america?

hunter davies, London, uk

The UK economy is in serious trouble, the signs are far worse than in 1992. If it is no worse than 1992 we wil be very very lucky.

michael clarke, Windsor,

Yes, it is different this time because the bubble is BIGGER!

Paul, Coventry,

Not the best analysis. It seeks to compare a 2 year 80s boom with 2 years of a 7 year noughties boom. It would be more accurate to compare the overall price expansions that were dramatically year-on-year in excess of earnings growth and other inflation - 87-89 with 01-08, but also more frightening

Colm MacKernan, Washington/London, UK/USA

The big difference between the 90s crash and now is the disparity between incomes and the average mortgage. In 90s this was a modest 2.5 times average salary, now it is 5-6 sometimes10 times. Although interest rates are nothing like the 15% back then, even a very small increase could be crippling.

Brian Roberts , Plymouth, Devon

Only partly true. The availability of easy (sloppy?) credit over the last few years is another factor in this problem. Margins are so tight for so many that small upward shifts in rates, combined with rising domestic costs are squeezing household finances.

Please look at the wider picture.

Drew, London,

Anyone who thinks that this will be a repeat of the 90's is dreaming.It will be far worse,do the sums and face reality.

stephen hulton, eure, france

I could be wrong but it seems that in order to increase liquidity, insitituions (including countries in the form of bonds) need to sell debt. No one is buying debt because the risk of default is too high in this unprecedented times. There is no more liquidity period. Big trouble is coming.

Chris Curtis, Auckland, New Zealand