Let’s put Mr. Carrick’s statements to the test:

“Rising house prices . . . threaten to seriously damage the personal finances of those who borrow more than they can truly afford to buy a home.”   Go to the bank and try to borrow more than you qualify for.  You’ll hear, “ . . . it’s getting harder all the time to buy a house. Our banking system decides if people can afford to buy by looking at their finances.”

“Debt default data tell us that the number of people unable to pay what they owe is both low and fairly stable . . .”   Low?  You call a mortgage arrears rate, (90 days or more behind,) of 0.28% low?  An arrears rate that low isn’t indicative of cavalier lending or reckless borrowing.

Carrick must have been dredging for an article this weekend.  He’s launched into his favourite “the housing sky is falling” rant, but journalistic integrity required him to pepper it with facts - and those darn facts completely blow up his argument.