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Free up the 'equity' in housing and the economy will pick up the slack

Not many people realise it, but we are on the verge of a very important anniversary. Six years ago, give or take a day or two, the then Tory heritage minister Stephen Dorrell told a thunderstruck audience of Leeds businessmen that the housing market was a thing of the past. 'Houses are for living in, ' he explained. 'If you want investment advice go to a stockbroker.'

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