If coffee price increases slowed down would we cheer or cry?
Nationwide said house price inflation slowed to 9.0% in October on an annual basis, down from 9.4% in September. Despite the gradual slowdown in house price growth, the broader economic outlook remains positive, Nationwide said. Check out the affordability calculator.
Is a worldwide housing crash going to happen in 2015
In America mortgage applications are at a 19 year low. In China the property market is on the brink of collapse. One of these superpowers has gorged on massive quantitative easing for 6 years the other has gorged on massive infrastructure spending in the same time frame, both based on funny money to keep the pack of cards together. It always used to be said if America sneezes the rest of the world catches a cold. If China and America sneeze at the same time, I wonder just what sort of cold is coming our way.
BOE due to copy FED's policies, economists confused by BOE propaganda
A rise in British interest rates in the first quarter of 2015 is now much less certain, according to a Reuters poll in which almost half the economists questioned thought the hike would come later in the year. A wafer-thin majority, 28 of 54 economists, stuck to their calls for the initial hike to come in the first quarter. In an Oct. 1 poll 54 of 60 economists had expected the Bank of England to act before April. British rates have been at an all-time low of 0.5 percent since the depths of the financial crisis in early 2009, but with the economy exhibiting some of the healthiest growth rates among developed nations, economists in Reuters polls since June have been targeting the first three months of 2015 for the first rise in Bank Rate.
May Poppins Quite; coming to a house near you soon
Back to pre-boom prices based on borrowing
British lenders approved the fewest mortgages in more than a year last month, as evidence mounts that a big rebound in housing market activity over the past year has come off the boil. The Bank of England said mortgage approvals for house purchase fell to 61,267 in September, down from 64,054 in August -- a bigger fall than economists had forecast though similar to the decline reported last week by the British Bankers' Association.
Singapore's prices continue to decline
Singaporeâs private home prices fell 0.7 percent in the three months ended September, the fourth quarter-on-quarter drop, bringing the slide in the past year to almost 4 percent. âThere is some distance to go in achieving a meaningful correction, after the sharp run-up in prices in recent years,â Tharman Shanmugaratnam, Singaporeâs finance minister, said in a speech yesterday.
Global property slump accelerates
August Case-Shiller data for August confirmed once again that US housing is rapidly slowing down, when the Top 20 Composite Index (Seasonally Adjusted) posted another decline in August, its fourth in a row, declining by -0.15% and missing expectations of a modest 0.2% rebound (following last month's -0.5%) decline.
Negative rates next. BOE to follow.
STOCKHOLMâSweden's central bank cut its main interest rate to zero on Tuesday, in an attempt to boost inflation, which has once again fallen below expectations. The Riksbank lowered its main repurchase, or repo, rate from the previous level of 0.25%. Once the market stops pricing in rate rises and adjusts for further falls, markets will shift.
What was that about the moon?
House prices in England and Wales fell by 0.2% in September - the biggest monthly fall in nearly a year, according to the Land Registry. Annual house price inflation also fell, from 8.4% in August, to 7.2% in September. That is the first time since May 2013 that the yearly rate has gone down, the Land Registry said.
A rich mans receovery
The recovery carries on at full swing for the rich, but the working and middle class are left stranded as a combination of technology, internationalism, debt and financialisation are increasingly making both the working class and middle class employees less necessary. In times gone by even a lowly bank worker could have aspired to buying their own house. Now their aspirations are survival.