Monday, Feb 19, 2007
bring on the interest rate hikes
reuters: Are the good times over for property prices?
LONDON (Reuters) - Interest rate hikes are starting to bite, consumer sentiment has dwindled and there are the first signs of a downturn: are the good times over for property?
Posted by it will happen @ 12:27 PM (140 views) Add Comment
4 Comments
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1. Wannabeemigre said...
78% of people still expect property prices to rise in, 18/22 (85%) of economists have said hpi has peaked (normally peaks are followed by troughs-though who knows nowadays) there seems to be a little divergence between Joe Public and the supposed experts-I can only wonder at the idiocy of this bubble:-( How can anyone expect prices to carry on rising regardless of affordability. Maybe the lenders will come up with a new mortgage where they pay your interest just to prevent a downturn in the market, I wonder what the open market value of a human kidney is?-oops no more American buyers since their economy seems to be heading for the rocks.
2. sovietuk said...
Just think how overstretched people have now become as a result of the MPCs decision to drop rates again in 2005 giving that last little spurt to the market. The chief swindler even had the gaul to say house prices were overvalued. Joe Public will now have to pay dearly for this incompetence on a a massive scale. With so much riding on the equity in house prices in general expect a nasty and prolonged bloodbath as the fictitious wealth slowly ebbs away. Public sector strikes a good bet as well with rising interest rates and a 'boxed in Brown'. Not a good time to have a big mortgage or to be exposed to large debts.
3. dohousescrashinthewoods said...
Good for Gordon in not following Tony's example and getting overstretched with mortgages..
4. geed said...
" Lombard Street Research has come out well above consensus, forecasting growth of 10-15 percent, although it does raise the possibility of a bubble developing."
Woooo, wouldn't want one of those bubble things occuring now would we. I wonder what they would define as a "bubble". 20%yoy, 50% yoy?? It seems these idiots think that bubbles occur never to be deflated. We have the all mightiest of housing asset bubbles in history here now as I type and I have some bunch of experts warning me about the possiblity of a a bubble occuring i the near future. Must be made of some pretty strong latex me thinks...