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mespilus
It's going to be that bad.
I was really shocked that it even reached LFGSS by adding so much to the monthly bill because of the USD > GBP exchange rate.
Already know of a few people laid off, a couple of 10% reductions in house purchase offers, and over-listened talk from a Buy-To-Let seller on the train this morning who fears that they can't afford to hold too long, yet selling will come at a big loss.
Now that last one, perhaps that's a good thing... but a crashing housing market is going to have ramifications way beyond "My rent has gone down.".