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Mortgage Approvals Slowing


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#1 plummet expert

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Posted 09 April 2012 - 09:19 PM

Despite the trumpeted mini flurry of sales to those trying to 'get in' before the stamp duty holiday ended, the pinprick bounce has already ended.
Now with interest rates edging up in the markets, the special liquidity scheme ending, the ridiculous new build govt backed mortgage scheme wobbling and unemployment clearly rising, the house market has nowhere to go....does it?

http://www.telegraph...e-year-low.html

#2 The Masked Tulip

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Posted 09 April 2012 - 09:32 PM

Despite the trumpeted mini flurry of sales to those trying to 'get in' before the stamp duty holiday ended, the pinprick bounce has already ended.
Now with interest rates edging up in the markets, the special liquidity scheme ending, the ridiculous new build govt backed mortgage scheme wobbling and unemployment clearly rising, the house market has nowhere to go....does it?

http://www.telegraph...e-year-low.html



As someone said on 'Wake Up To Money' on Fivelive this morning - think it might have been Henry Pyror? - those who rushed to beat the stamp duty holiday ending if they had waited a month the drop in house prices would have paid the stamp duty anyhow.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#3 zebbedee

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Posted 09 April 2012 - 09:38 PM

The government announces that 'due to the need for economic stability the savings of the prudent will be confiscated and allotted to those hard working families seeking housing independence' :P

Although I shouldn't joke.
As I wandered in the darkness a voice came unto me, it said "smile, be happy, things could get worse". So I smiled and was happy and behold, things did get worse.

"Credit is indeed vital to an economy, but it does not constitute an economy within itself. ... When businesses borrow to fund capital investments, the extra cash flows that result are used to repay the loans. When individuals borrow to spend, loans can only be repaid out of reduced future consumption."-Peter Schiff, Jan 19 2009; <a href="http://www.321gold.c...iff011909.html" My link

"The bold effort the present bank had made to control the government... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."-Andrew Jackson on the Second Bank of the United States

"The problem with socialism is that eventually you run out of other people's money."-Margaret Thatcher

"If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public liberty, war is perhaps the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few. The loss of liberty at home is to be charged to the provisions against danger, real or imagined, from abroad." - James Madison

"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
John Kenneth Galbraith

#4 swissy_fit

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Posted 09 April 2012 - 09:51 PM

The government announces that 'due to the need for economic stability the savings of the prudent will be confiscated and allotted to those hard working families seeking housing independence' :P

Although I shouldn't joke.

Er - isn't this what's been happening for about 3 years now?
If you want to know what the next political move will be, ask yourself what will suit the banks, and behold, the answer will come to you.

The Credit Crunch :
The logical financial outcome is deflation. The logical political outcome is inflation. (Thanks to Injin 21st Sept 2008)

#5 zebbedee

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Posted 10 April 2012 - 01:24 AM

Er - isn't this what's been happening for about 3 years now?

Yeh, and when they tell you this stealth theft is to slow 'just hand over the actual money' ;)

Or no, they are supporting the economy, not hurting savers, securing growth, not printing money, supporting the banks 'the right thing to do' B)

Edited by zebbedee, 10 April 2012 - 01:30 AM.

As I wandered in the darkness a voice came unto me, it said "smile, be happy, things could get worse". So I smiled and was happy and behold, things did get worse.

"Credit is indeed vital to an economy, but it does not constitute an economy within itself. ... When businesses borrow to fund capital investments, the extra cash flows that result are used to repay the loans. When individuals borrow to spend, loans can only be repaid out of reduced future consumption."-Peter Schiff, Jan 19 2009; <a href="http://www.321gold.c...iff011909.html" My link

"The bold effort the present bank had made to control the government... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."-Andrew Jackson on the Second Bank of the United States

"The problem with socialism is that eventually you run out of other people's money."-Margaret Thatcher

"If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public liberty, war is perhaps the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few. The loss of liberty at home is to be charged to the provisions against danger, real or imagined, from abroad." - James Madison

"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
John Kenneth Galbraith

#6 TheCountOfNowhere

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Posted 10 April 2012 - 07:24 AM

Yeh, and when they tell you this stealth theft is to slow 'just hand over the actual money' ;)

Or no, they are supporting the economy, not hurting savers, securing growth, not printing money, supporting the banks 'the right thing to do' B)

a.k.a....giving the public's money to their mates.....isn't that what governments do :rolleyes:

#7 MrFlibble

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Posted 10 April 2012 - 09:44 AM

As someone said on 'Wake Up To Money' on Fivelive this morning - think it might have been Henry Pyror? - those who rushed to beat the stamp duty holiday ending if they had waited a month the drop in house prices would have paid the stamp duty anyhow.


That's the problem with all these props, they end with yet more miss allocation of wealth. In this case the fools being egged on into the housing market on the belief they are actually saving something only to end up losing the saving and much more.

Of course on the other side of the trade are the sellers who have lined their pockets with an even bigger wad, on top of the rest of the unearned riches their shacks have returned.

The tragedy here is it's mainly the younger folk who are getting sucked into this scam...
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Norm Franz

In Gold we trust...




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