House Price Crash?

Journalists like nothing more than a good crisis. And the current economic situtation fits the bill perfectly. But when we sift the data what are the hard facts that emerge? Is the property market really as bad as it was in the early Nineties when the last crash struck? In some ways it's already worse if you look at the unprecedently small number of mortgage approvals. In other ways - low interest rates, low inflation, reasonably high employment levels - the environment is relatively benign. OK, high food and energy prices are making things decidedly uncomfortable for consumers and we're likely to see an increase in the number of repossessions, but does all this amount to a crash? For a cool-headed survey of all the economic indicators read my feature: 'Are We Set To See Another House Price Crash?' on Sky.com's Money section.