Bursting the House Price Bubble, BBC One 8.30pm Monday 4 February

The debate is now closed.

We have published a selection of your comments below.

Thank you for exposing a scam which has deprived many in society of the opportunity to buy a home. The question that should now be asked is why the Goverment, lenders and regulators failed to prevent it. Anyone with sense knew the tricks that were going on to prop up the housing market and many independant financial experts voiced their concerns several years ago. Why does it take programmes like Panorama to bring these issues out into the open? We elect goverments to represent our best interests but they seem more concerned with pandering to the City, and big business, than protecting us from frausters.
David, Derby

At the end of your show you stated that "some experts" believe that there may be a 35% reduction in house prices. I have just looked at the details and can find no reference to these experts. Can you tell me where you got these statistics from?
Paul Murphy, Milton Keynes

I thought that Jeremy Vine's concluding comment that some experts think house prices may fall by 35% over the next 5 years was totally irresponsible and without foundation or explanation. I question the BBC's agenda for giving authority to such a random comment.
Martin Verity, Harrogate, England

I also thought that Jeremy Vine's comment that "some experts think house prices may fall by 35% over the next 5 years" was totally irresponsible and typical of the BBC recent tabloid style of reporting. I question the BBC's agenda for its continued DOOM AND GLOOM. "Some experts think that channel five will have twice the audience of the BBC over the next five years"
Stephen Hunter, Bristol

I see the BBC once again wheeled out Jonathan Davies - introduced as a "chartered financial planner". He also just happens to be the man behind the somewhat pessimistic website housepricecrash.co.uk. Whilst all "expert" opinion is interesting to hear, his is unlikely to be considered middle-of-the-road.
Tom Sailor, Reading, England

Most of the housing market professionals agree that the housing market will remain flat during 2008. This includes Rightmove, The Nationwide, The Halifx etc. Only the media out for a story are attempting to talk the housing market into a crash. As a buy-to-let investor myself, I wouldn't mind picking up a few cheaper properties right now, but I haven't seen any signs of a crash happening. In fact good houses still seem to be selling and only over valued properties are dropping slightly to the price they should have been to start with! The idiots in your program should have done a little homework before throwing their money away. Simply asking a local letting agent if they could achieve �1200 a month instead of the realistic �600 a month, would have taken one phone call and 5 minutes of their time. This story was about finding someone extreme to talk about, rather than normal everyday life. Oh and I would like to know which so called experts think the housing market will fall by over 30%. Wishfull thinking First-Time-Buyer, Joe Blogs down the pub I bet!
Roy, Peterborough

The ABN-Amro report of last April based on the long term relationship between house prices and rents, predicted that UK house prices are 40% too high, maybe more. Their similarly-based predictions for the US market have been an underestimate. Thus the 35% quote in the programme is in the mainstream. The crooks, sorry I mean vested interests, are desperately trying to hide the truth.
Alexander Davidson, Crawley, W. Sussex

So, house prices can rise 300% over 10 years and this is considered normal but if somebody suggests that house prices will fall 35% over 5 years they are irresponsible. Would you be worried that you might have overstretched yourselves a little? Mortgage, Credit Cards, Overdraft etc. You should be worried. What's coming is the product of ten years of unfettered credit and greed.
GT, Wilts

I think that Panorama should do a programme about the success of the Buy to Let market because there are plenty of people, both landlords and tenants who have benefited from this market. All you are reporting is what every prudent landlord has known for years, that city centre apartments are a waste of money, and long term successful landlords avoided them like the plague. I am a buy to let landlord and my portfolio is family houses, mostly traditional terrace properties, I could let them out ten times over and I wish I had more. I do not need a regulated official to tell me my business, I know my business, if I didn't I too might be on your programme crying over spilt milk. Once again we have an IFA calling for regulation, why because these stupid people couldn't be bothered to get off their backsides to take a look at what they were buying? Just how do you regulate laziness and stupidity? I'm fully in favour of your report on the developer and if the allegations are true, I hope he gets his deserves, but in future, please balance your argument out with the good side of the buy to let industry and let successful landlords have a say, things like this give us all a bad name!
Martin O'Hearne, Leeds

The so called investors in your programme were clearly idiots. Property investment is a business and as such anyone who buys a buy to let property without doing their own research into local house prices and rental markets deserves to be taken for a ride. I'm sure they would put more research into buying a new television!
A Davidson, Woking, UK

It's disappointing to read that people feel landlords like me deserve all we get by not visiting a property before buying. I work long hours and was offered a property for �50,000 less than it's value a 5 hour drive away. I paid a �6000 finders fee, so I would not have to do the due dilligence myself and could carry on with my usual job. The property was �70,000 over valued, so rather than provide a pension for my husband, this has ruined our lives. For those who have said greed is the issue, would you say that about somebody who gains a better job for themself?. We work very hard for our family, have never claimed anything and saw this as a way to retire a bit ealier. What was we doing that was so wrong? I realise I am stupid now, but at the time I trusted all the 'professionals' who seemed so genuine and were actually colluding against me. For those who think I deserve all I got, you'll probably be pleased to know I have learned a very harsh lesson.
Julie Taylor, West Wickham, Kent

The Land Registery should insist that prices on new (ie first registered) properties must be after all Discounts are taken into account - they all have a value. Currently this is not the case. This would bring transparency not only to the Lender but also to future Buyers of these Properties who in part base their Buying decisions on Land Registery prices. This would of course have an effect of reducing the Stamp Duty payable which is why it won,t be done
mike andrews, Portsmouth

Total total greed.. I had the opportunity to buy these flats in Nottingham however, I know the area and it was a laughing matter for me and some property friends. You should do your home work properly first then buy. How anybody can buy blind, if it was a good deal, you should off travel up to the areas mention in the program and ask local people for rental advice. No such thing as a free lunch, sitting down investing in your armchair. (Tip: buy in you own town)
Michael Penniecook, Nottingham

As usual for Panorama, sensationalist and good entertainment but hardly ground breaking or fact based. Maybe you should re-brand the program "Panorama lite"? Key claims that All Land Registry data is not believable is totally unsubstantiated. Why were no mortgage brokers or surveyors interviewed? Also, where is the evidence that buy to let is stopping first time buyers? we want facts not just rumour...what was the source behind the claim of a 35% drop in prices and what are their credentials?
Nick Hopkinson, London

Last time I watched Panorama it was cutting edge investigative journalism. Last nights programme was a poorly researched and poorly presented travesty. Nothing new was presented at all and if fraud is taking place why not get into investigating it rather than skirting the issue and attacking soft targets. Door stepping the solicitor was ridicules and sob stories from greedy by to let investors who could not see beyond the � signs for the potential pitfalls doesn't take a lot of hard work. This was sloppy journalism at its worst.
Nick Griffiths, Manchester

The issues raised in Panorama's programme have been known for quite some time to those in the property investment game. Inflated prices, unachievable rental returns and sky high capital gains. I have been a landlord for 8 years now and my approach has been simple, keep high equity (70% loan to value maximum), be conservative when assessing rental income and think in terms of long term growth. My model is based on property prices rising at 2% per year. The strategy is simple, slow and steady growth � keep mortgage repayments affordable in order to ensure that void periods, falling rents, mortgage rate increases can be comfortably accommodated. Also, I allow for the fact that I will have to subsidise the property for up to 2 years. My portfolio is now �1m, not huge by most standards, but I have a robust platform to extend my portfolio further.
Rick Singh, Ilford, Essex.

Just the tip of the iceberg? The guilty parties should be charged with criminal offences and their assets seized. House prices are over inflated and they will only go one way and that is down. Hopefully the general public are waking up to these facts and confidence in the market will plummet!
Paul, York

What a surprise? Greed Deception and Fraud in the Housing Market.
Ben, Preston

The landlords featured in the program are not typical of most prudent buy to let landlords, what kind of landlord doesn't look at a property before buying it, know the market they are buying in or see through 'incentive' scams? Only those that are out for a quick buck or those that don't know what they are doing. It's these landlords that give professional landlords a bad name.
P Latham, Manchester

Having watched Panorama last night, whilst i concede there were some very dodgy practices going on with the main developer highlighted, the programme was a parade of people who had made bad investments. If people are not going to check such a huge investment before they buy it then they deserve everything they get. Buy-to-let is not like buying a lottery ticket, it requires thorough research to be successful. As for the scaremongering comments by Jeremy Vine at the end of the programme (35% falls in property values) that stank of the kind of sensationalist journalism I would expect from the Daily Mail, not the BBC!
Nick Suter, London, UK

Panorama implied that the mortgage industry was unaware of the practices of the property developers. The truth is there have been full page colour ads everywhere for the past 10 years to buyers, offering to pay all fees on new builds. The lenders had full pre knowledge of the practices and were part and parcel of the 'ring'. Financial institutions have been ripping off the working man for hundreds of years - new bottle, old wine.
Connor O'Daly, Thorpe, UK

Excellent, eye opening programme. I still think however that too much sympathy is shown to the buyers in these programmes. People who think they can gamble millions of other peoples money in the pursuit of easy profit, and not expect to have to put their hands in their own pocket if the gamble does not pay off do not deserve our sympathy. Paying too much for the property is not necessarily the fault of the Developer, he is obviously out to maximise his profit as is any other seller of goods. A contract has to show offer, acceptance and consideration. The consideration does not have to be realistic. "Caveat Emptor " - buyer beware is an often quoted phrase in business.
Jonathon Salt, Lichfield UK

The camerawork and 'special effects' used in your programme seem like they're dreamed up by some deranged arts graduate. Please cut down your pointless screen warping effects. Buy your cameramen a tripod, so they don't feel obliged to keep the camera moving throughout every interview. It's not just your beloved 'shaky cam' that I guess you think makes the programme feel gritty and realistic, it's the pointless panning shots and so on. Did the editor only just discover the speed up/slow down /forwards/backwards buttons on their editing console? It certainly feels that way. You don't need constant special FX to try to make every shot 'interesting'. Please restrain your editors and post-production team. They make the show unwatchable.
Ben, Cambridge, UK

It is the greed of people that are landing them in trouble. You need to be 100% sure of what you are doing. I am a Buy-To-Let property owner and the basic rules are you only invest in an area which you know. Remember Estate Agents are never going to tell you the truth, it is not in their interest! The house price recorded in the Land Registry should include any incentive because otherwise it is a fraud.
Dias Singh, London

Buy to let flats may be one thing, but try to buy a family house with a garden anywhere in England and you soon find all the talk about house price crashes is total nonsense. Even now, despite all the publicity of the last few months prices are remaining firm and no one is taking offers. I think the BBC seems particularly keen in its reporting to precipitate a crash. Good luck, I'd welcome it!
Kavita Singh-Johnson, Ringwood Hampshire

Well done BBC. A good program that effectively and simply illustrated much of the corruption we have known for years in the housing market. It is great that you informed the masses today. Thanks again
Gavin, London

I am visually exhausted after watching Panorama tonight. Why was it necessary to use split-screens, pixilation, fish-eye lenses and generally hose the camera around throughout the programme? Panorama is respected as a serious platform for presenting important issues, and does not need any gimmicks. Why did you do it?
Joy Badcock, Huntingdon, Cambs