Wednesday, March 31, 2004
Independent.co.uk Business News
Quarter point won't halt house price escalator
Tuesday, March 30, 2004
Yahoo! News - House Prices Threaten Economy Says Researcher
Unsustainable price increases in the housing market represent the biggest internal threat to the economy, according to Colin Hunt, head of research at Goodbody Stockbrokers
BBC NEWS | Business | Spring signals new housing boom
UTTER MADNESS: Nationwide said it expected house prices to rise by 15%, rather than 9% it originally estimated at the beginning of the year.
Monday, March 29, 2004
BBC NEWS | Business | Consumer debt jumps in February
: "Mortgage lending increased by its largest amount in four months to £25bn according to the Bank of England. "
BBC NEWS | Business | UK housing now worth £3 trillion
"The value of the UK's housing stock has almost doubled in the past five years to £3 trillion, a new report indicates. "
Sunday, March 28, 2004
Scotsman.com Business - Economy - Heat is on as the bank boils frogs
"There is a limit to which it can push up interest rates without stretching the credibility of monetary policy to breaking point."
Saturday, March 27, 2004
Telegraph | Opinion | Cheer up, Mr Howard, interest rates will rise
: "...the Bank is worried about the continuing rise of house prices and household debt levels.
Friday, March 26, 2004
FT.com / Your home
: "The probability of an interest rate rise next month increased on Thursday after the governor of the Bank of England said the monetary policy committee was in favour of 'acting early' to keep inflation in check."
BBC NEWS | Business | Export hope in trade-balance fall
The Office for National Statistics (ONS) said the quarterly deficit narrowed to £5.2bn, down from £6.3bn.
Thursday, March 25, 2004
Bank of England Governor Mervyn King said the buildup in household debt may curb consumer spending without causing a slump.
Wednesday, March 24, 2004
BBC NEWS | Business | Bankruptcies up almost one-third
: The number of bankruptcies increased from 21,611 in 1999 to 28,017 in 2003 - a rise of almost 30%.
BBC NEWS | Business | Revenue weighs credit card option
The government is worried about the high level of personal debt but at the same time they are quite happy to entertain the idea of letting people pay off their tax bills with a credit card!
Tuesday, March 23, 2004
: "Diary of a first-time buyer" I am tired of paying rent on a one-bedroom flat in Bayswater.
Monday, March 22, 2004
BBC NEWS | Business | Tough times for first-time buyers
: "The First Time Buyer Report also said 50% are paying debts while struggling to raise the deposit for a first home. "
Sunday, March 21, 2004
BBC NEWS | Business | Are we ready for housing reform?
: "'Unfortunately, the current house price boom will play itself out as it has done with painful results three times in the last 20 years,'"
Headline news from Sky News
House prices may be too high to stay at their current levels, the Bank of England is warning.
BBC NEWS | Politics | Taxes 'will rise after election'
: "Tax rises are inevitable if Labour wins the next election, according to an influential group of economists. "
Saturday, March 20, 2004
BBC NEWS | Business | UK High Street sales hold steady
UK retail sales held steady in February with a rise in food sales cancelling out a drop in non-food items.
Friday, March 19, 2004
BBC NEWS | England | Devon | Villagers facing mass evictions
: "angry villagers say they cannot afford to buy and claim the way they have been treated is feudal."
Thursday, March 18, 2004
BBC NEWS | Business | Mortgage lending hits year lows
Lending to property buyers also dipped £200m to £9.8bn, but the CML said it was too early to say if this signalled that consumer debt was cooling.
Great budget Mr Brown.
We think Mr Howard got it right when he said that it was "...a credit card budget from a credit card chancellor"
Wednesday, March 17, 2004
It's Budget Day. What will the chancellor do to help first time buyers? It is widely predicted that the 0% stamp duty threshold will be raised from £60,000 to £120,000 but as this figure is below the average house price it won't do a lot of good!
We think that the chancellor should tax the Buy-To-Let market heavily which will take the steam out of the housing market without using interest rates.
Tuesday, March 16, 2004
BBC NEWS | Business | Fed keeps interest rates on hold
: "As expected, the US Federal Reserve has voted to keep interest rates on hold for the eighth time in succession. "
Times Online - Latest news
: "Inflation fell unexpectedly last month as clothing stores, facing weak market conditions, extended their seasonal sales."
NEWS.com.au | Get ready for bubble to burst
It's not just the UK that has house price crash worries.
Monday, March 15, 2004
House prices jump in March
: "the average asking price in the expensive London borough of Kensington and Chelsea is now down nearly 21 percent year-on-year."
BBC NEWS | Business | House price rise as buyers return
"Prices in the capital were up by 2%, following the previous month's increase of 4.1%. The average cost of a home in London is now £275,459."
Sunday, March 14, 2004
Moneywise - Britain's best-selling personal finance magazine
: "'We are pretty confident we're entering a new property bubble, and something has to give soon.'"
Saturday, March 13, 2004
BBC NEWS | UK Budget 2004
How is the UK economy performing?
Friday, March 12, 2004
BBC NEWS | Business | Call for 'fairer' mortgage advice
"At present, most UK home buyers are ignoring the benefits to be had from long-term fixed rate mortgages."
Thursday, March 11, 2004
BBC NEWS | Business | Endowment selling damned by MPs
: "Shortfalls are likely to grow and the problems could intensify until 2013"
Wednesday, March 10, 2004
Housing market crash? What housing market crash?
"...more and more first-time buyers are struggling to afford a home"
Redrow hikes dividend as market booms
Tuesday, March 09, 2004
Monday, March 08, 2004
BBC NEWS | Business | UK housing market remains robust
"... other surveys have reported prices rising at a much faster rate than the government findings."
Sunday, March 07, 2004
Guardian Unlimited | The Guardian | Barclays making vast profits from fear of debt
: "It is gross profiteering, absolutely excessive, and deserves to be exposed. People need to be aware of this rip-off,"
Saturday, March 06, 2004
BBC NEWS | Business | Price bar hits first-time buyers
: "First-time buyers cannot afford to buy a home in 80% of UK towns, a survey from the Halifax bank has suggested. "
Friday, March 05, 2004
BBC NEWS | Business | Weak jobs data spooks US markets
The dollar has dropped sharply, after weak US jobless figures raised questions about the pace of recovery in the world's largest economy.
The Bank of England appear to be quite content in letting personal debt and the housing market spiral out of control. If they are trying to deflate the housing boom slowly then they may just be storing up trouble ahead by making the situation worse.
Thursday, March 04, 2004
BBC NEWS | Business | Bank leaves rates unchanged at 4%
"After last month's quarter point increase we should wait and see if consumer debt and house prices stabilise before raising rates any further."
The MPC has left rates ON HOLD at 4%
Wednesday, March 03, 2004
The HPC team has had its own MPC meeting.
Our decision was a 0.25% increase in interest rates to 4.25% and was based on the recent spurt in house prices and the insatiable consumer borrowing appetite of us Brits!
We're sticking our necks on the line here as pretty much every economist in the country is predicting a hold at 4%....watch this space!
BBC NEWS | Business | Rates fail to cool house prices
: "The current average prices of a home rose 1.6% during February, to £148,089. "
Tuesday, March 02, 2004
The Bank's rate juggling act
: "...fears of an early-nineties-style crash"
BBC NEWS | Business | Credit card spending reaches high
: "...consumer credit rose by £1.93bn in January, the biggest monthly increase since last May and double December's rise."
BBC NEWS | Business | Taylor Woodrow makes £304m profit
HPC's message to Taylor Woodrow - Enjoy it while it lasts!
Monday, March 01, 2004
BBC NEWS | Business | UK inflation 'set to accelerate'
....but will it be enough to force the MPC's hand on Thursday?
The great borrowing boom is about to end.
"We are in a new world. A high rate of borrowing is no longer painless"
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