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Peter, a house owner who doesn't intend selling or mortgaging their house, won't be affected.
A house owner who intends selling their house to buy another one, won't be affected, as they'll get less money for the one they sell, and pay less for the one they purchase.
So no loss there!
However, they will pay considerably less stamp duty on the house they purchase, and so stand to gain.
And again, a house owner/s, whose child or grandchild is buying a first house, will be happy to know their loved one is paying a fair price, and not a pyramid-debt speculation-driven rip-off price.
They possibly won't even have to worry themselves grey and white as to whether their loved one will manage to pay the mortgage before they reach the age of 150, with all the guarantees necessary from the loving parents and grandparents for bank loans to boot...
Many a house owner will be happy to know that their child or grandchild purchasing a house will stand a much lesser risk of being home-evicted for failure to meet the extortionate mortgage + interest...
So all egoistic thoughts (voters and potential voters) counted and deducted, I see the project - to drastically regulate and reduce property prices - as ripe and ready to go ahead, and it will probably crop up any time soon in a speech from Nick Clegg, Mr. Milliband or even Dave Cameron himself.
It will happen!
