Saturday, Jan 27, 2007
First time buyers disappeared not desperate
Firstrung: Desperate first-time buyers faced with rising prices "it's all your own fault" screams Yorkshire Bank
That the FTB is somehow portrayed as the villain of the piece as opposed to the victim is quite frankly disgraceful. We can now confidently expect Yorkshire to finally go the 'full nine yards' and begin to blame recent house price inflation on 'desperate priced out FTBs' in favour of for example:
750,000 newbie BTL investors since 2003,
Money supply being out of control,
Loose and lax lending policies,
Inflation rising,
Lack of decent family starter homes.
Of course the Yorkshire are immune to criticism, despite the fact that their BTL lending book has boomed since 2003, they accept heavy sub prime business, require low deposits and will lend to 'extreme multiple' levels - typically five times income...
Posted by converted lurker @ 06:23 PM (32 views) Add Comment
3 Comments
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1. headmelter said...
Unbelievable.
"It's also good to see that parents are looking long-term and investing in a home fund for their children."
So now parents are more often than not forking out for university education and it's 'GOOD TO SEE' they are investing in a home fund!
What kind of job pays the required salary for me to provide all these things for the kids and eat in the mean time? And how do I get one?
Answers on a postcard plase.
2. David20040_0 said...
I really do hate some of these banks. Hopefully a crash will happen and a few will go under. But I highly doubt it.
3. enuii said...
Baby Boomers again I'm afraid, the ones who had it good, my three kids have had it then, by the time I have been forced to support them through 'higher education' to keep them off the unemployment stats it will be to late to boost my pension pot because I'm also mewed out as I'm now paying the mortgage till I'm 65.
This country has been ruined by cheap credit, lax regulation of mortgage lenders, fiddled statistics, the destruction of domestic industry and 10 years of spiv government.
Time to hit the bottle I think, pass me the Bishop's Finger.