Many readers reject our gloomy warnings about a more widespread fall in house prices.

ECONOMIST: The higher they climb, the further they will fall

Separately, an index of leading economic indicators posted an unexpected fall in March, as consumers turned gloomy on the economic outlook.

WSJ: Blue Chips Fall 81 Points

In that gloomy speech last month about Britain's diminishing economic prospects he said the fall in sterling and the government's fiscal programme had put us "on track" to more normal economic times.

BBC: Eurozone and the UK: A tale of two crises