The NYT Is Confused About Housing in the UK

The NYT ran an article noting that homeownership rates in the UK are dropping which it attributed to the fact that, "disposable income has shrunk and loan requirements have toughened."

However somewhat later in the article it notes that:

"One reason homeownership remains attractive in Britain is because property values dropped less drastically than in the United States, in part because of a shortage in housing. Prices in some large cities, including London, have even increased recently."

I...