According to Company Checker, Sir Howard Davies is worth an estimated $5 Million USD in the last financial year, which included residuals made through his previous academic publications.

The Economic Research Institute has also claimed that Sir Howard Davies receive an annual salary of £763,000 in total compensation as Non-Executive Director and Chairman of the Royal Bank of Scotland, with Natwest a subsidiary of the overall company structure

Yeah his opinion on normal people trying to first time buy a house is irrelevant. Entirely out of touch from the real world