Tuesday, Jan 16, 2007
More Bear News
MoneyWeek:::: Will the UK housing market stumble in 2007?
A Similar article to the one in the Indie. Interesting to look for parallels and differences though. I wonder what the culative effect of Bear-ish articles will be, now that they are starting to appear fashionable in the main stream press. (If one can call MoneyWeek or the Indie fashionable).
Posted by talking rot @ 12:57 PM (131 views) Add Comment
7 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. george monsoon said...
IMPORTANT!! - BREAKING NEWS..
THIS WILL HAVE AN IMPACT.. LOOK AT THIS LINK..
http://www.myfinances.co.uk/mortgages/news/mortgages/fixed-rate-mortgage/fixed-rate-mortgages-withdrawn-$463408.htm
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. harold said...
George, this will impact, but will take a few months to work through the system. The era of cheap money is clearly and abruptly coming to an end - what next for debt-laden Britain?
4. talking rot said...
George
Sorry ol' chap. All it means is that the Banks, who have already borrowed the money to finance fixed-rate mortgages, will sell Variable rate mortgages until they introduce higher rate fixed ones in a few months time. This way they make more money.
5. talking rot said...
George
Sorry ol' chap. All it means is that the Banks, who have already borrowed the money to finance fixed-rate mortgages, will sell Variable rate mortgages until they introduce higher rate fixed ones in a few months time. This way they make more money.
6. japanese uncle said...
I sent the following to the Daily Mail's readers column and is shown on their websit. Just FYI.
-----------------------------------------------------
British economy has been thriving on a fictitious premise for the last 10 years, ie. borrowed money and housing bubble. Poeple were just spending the money that was not earned, all at the cost of their future financial plight including the "pension blackhall", simply depending on the cheap credit and unearned housing price increase. As historically proven any economic bubble will collapse after all. This is no bad news for the first time buyers at all, as they are logically assumed to be savers rather than borrowers for the purpose of deposit. Higher interest rates means their savings will grow faster while house prices will nosedive.
First time buyers, just have patience and wait for another couple of years. You will find yourself in an absolutely different landscape.
7. p. o. o. r said...
Will the housing market stumble in 2007 - well, I believe it already is. A friend of mine has just had his house valued, thinking of renting - to be told that it is worth substantially less than when he had it valued last April. The £ is currently very strong against most major currencies - Today £1 = $1.96 £1=€1.52 this makes importing goods cheaper than a year ago when it was £1 = $1.76 and £1 = €1.45 . Even with the strong £ inflation is still increasing rapidly, what is going to happen when the £ weakens again - Jan 2001 £1 = $1.47! Cost of imported goods will have to increase. As British manufacturing has all but gone - this is going to be a big problem, one which I do not think the BOE is going to be able to control, without putting Interest rates up again and again and again - My Guess is 6.5% by the end of 2007 - and stabilizing around 7.5 to 8 percent before coming down again in 4 to 6 years time.
As Japanese Uncle says - now is the time for first time buyers to be patient