My Home Depot - Are the British having as big a problem with the over building of new homes and is it effecting your economy?

Are the British having as big a problem with the over building of new homes and is it effecting your economy?

Did they go crazy with the housing market and the outrageous prices like they did in America.

After the Conservative Government in the 'eighties did away with rented council housing and discouraged new build, the prices went up to unprecedented levels as in a market economy, shortages raise prices. Our problem now is we are not building enough homes for rent and too many people are hoping to make fortunes over rising prices and are reluctant to accept that the bubble of ever increasing value has finally burst. Our problem is underbuilding, not overbuilding. My heart goes out to all the solicitors and estate agents looking for proper jobs, now they cannot live on other people's fat any longer!