Posted 1/8/2024, 12:06:00 PM
NatWest Chair Sparks Backlash Over 'Not Difficult' Housing Comment Amid Cost Crisis
- NatWest chair Howard Davies sparked backlash by saying "it's not that difficult" to buy a home in the UK amid the cost-of-living crisis
- Critics accused Davies of being out of touch, with housing still expensive and mortgage rates recently at 15-year highs
- Average UK house prices rose for the third straight month in December, now £4,800 higher than a year ago
- Davies later backtracked after the criticism, admitting his comments did not come across as intended
- Mortgage rates show "early green shoots" of potentially decreasing, but buyers still face "serious challenges" securing housing