Friday, Mar 09, 2007
Buyers so overstretched that furniture sales are falling
MoneyWeek: Global interest rates just keep on creeping up
With the latest figures from Halifax showing that house price inflation is still rampant - along with anecdotal evidence on just how overstretched buyers are - John Stepek explains why the Bank of England's decision to keep interest rates on hold is likely to be only temporary.
Posted by mary @ 10:54 AM (171 views) Add Comment
5 Comments
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1. financial planner said...
And the link at the end to the other article on the housing market and HeliBen is vg.
2. sold 2 rent 1 said...
11.1% annual HPI
Here is a list of the predictions at the start of the year
http://www.bsa.org.uk/feature/2007hp.htm
With Lombard Street Research prediction of 10 to 15%, they are cleary in the lead to be the best predictor AGAIN this year.
This boom still has some way to go before the almighty crash of 2008
LSR quarterly report of HPI in 3 weeks time. Can't wait to see it.
3. p. o. o. r said...
Global inflation is going to continue to increase as salaries in Asia, and India are increasing year on year at about 10%. The problem with the UK is that we have now lost nearly all our manufacturing, so there is very little we can do but ride the storm - which is going to go on for a very long time when it starts. Another problem which is going to have to hit home in the next year or so is that taxes are also going to have to go up - I read somwhere recently that to balance the books an increase of 4pence in the £ is required. For someone on average salary of 2K a month this will hit them to the tune of about £80 a month, in addition to other rising costs.
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