A major banking executive apologized after facing sharp criticism for saying it's not that hard to save up and buy a house

• Sir Howard Davies was criticized for saying it's not that hard for people in the UK to buy a house.
• The Natwest chair has since apologized saying he didn't mean to "underplay"  the challenges people face.
• House prices have increased in the UK, and saving for a deposit takes almost a decade now. 

A major British banking executive has apologized after saying in a radio interview that it isn't "difficult" to buy a house in the current environment.

Sir Howard Davies, the chairman of British bank NatWest Group, spoke with the BBC Radio 4's Today program on Friday and made tone deaf comments about the current housing market.