Thursday, May 24, 2007
Barker said... the obvious
BOE Barker: Low Rates Key Reason For UK House Price Gains
"You wouldn't immediately assume that a fall in interest rates would make housing less affordable," Kate Barker said. "It would, of course, raise prices, but given people wouldn't have to pay as much for their mortgages, they'd still be able to afford them." Disgusting example of "Labour-nomics". The sooner we rid of these jokers the better.
Posted by confused76 @ 08:40 AM (150 views) Add Comment
13 Comments
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1. confused76 said...
"I certainly think that the behavior of interest rates is a large reason why prices have risen. But I think...the role of supply, the fact that we haven't had enough supply is a part of it," she added.
"Perhaps..." "I think..." "Maybe..." is she competent enough to serve on the MPC? or competency is not part of the job requirements?
Other links about impact of rate rises:
http://news.google.co.uk/news?hl=en&ct=title&ie=UTF-8&ncl=1116469065
http://www.landlordexpert.co.uk/index.php?news=703
2. Ts200010 said...
If supply is an issue then rents would have risen at the same rate as house prices and they have not. In fact, yields on rental property are at all time (?) lows indicating that landlords have little room to raise prices.
3. japanese uncle said...
For completely separate reason which I cannot specify, this woman is a retard, without any decent capability to manage things.
4. royston said...
"In 2004, Barker delivered a review of housing supply in the U.K. where she identified that around 200,000 new homes needed to be built each year ...................."
Where is the demand for these 200,000 houses coming from? Demand should have dried up as everybody has been priced out of the market. The only people I know who can afford homes already have one. Is it all BTL driven? Are the government still buying to provide social housing?
5. Realist said...
Kate Barker has been banging the same drum for years. Question for you Kate. If supply of housing is such a problem, why aren't rents shooting up in the same way as house prices?
6. Simonb said...
A consise and well thought out argument there you two.
Seriously, are ad hominem attacks all you can muster to shade your dissatisfaction at the current housing market?
7. Orwell said...
Who she? Well, she does have some words of perceived wisdom for us, whomever:
"...Barker also noted that a large number of people have been drawn into the buy-to-let market..."
Errrrrrrrrm yuh-es, and...? What will happen when IR's go up to 7.5% Ms. Barker? That's what we would like to know, not the obvious. And also why do you use the word 'drawn' in? These are prime investment opportunities aren't they? Shouldn't you be saying that after careful advice, numerous investors have prudently bought properties to rent out...Or is it just a figure of speech? Or, more sinisterly is it paving the way for excuses like with endowments etc... It was not their fault, they were drawn in and enticed by mis-selling! Yes of course Ms. Barker. You aren't any relation to Ms. Kelly are you? Have you been speaking to Ms. Moore about burying bad news after Mr. Campbell about creative writing?
Errrrrrrrrrrm.
8. Scott said...
The crash is coming whether they like it or not. Everything is going according to plan.
9. confused76 said...
Simonb,
I turn the question to you. I do not give two hoods about the housing market. In fact I think housing should just provide our functional need to have a roof for us and our families. The level of disruptions to our lives brought about by this speculative madness is what I resent:
- skyrocketing prices
- low or no rights for tenants
- our savings and pensions eroded by the "actual" inflation, and low IRs engineered to protect the housing market
Ad hominem you say... yes, and I would like to see Ms Barker and the entire MPC rotten in hell, if that was not clear enough from my previous comments
10. royston said...
Simonb,
I think you mean "ad feminam".
11. confused76 said...
You can say "ad personam", which is also PC!
12. shipbuilder said...
On the issue of not enough new houses being built - given that house prices are kept out of inflation figures and are therefore not pushing up wages, why the hell would a housebuilder be looking to reduce house price inflation and therefore profit inflation? Where is the incentive to build more houses coming from?
13. royston said...
Shipbuilder,
I'm not sure I understand your point. Are you saying that house prices are too high to incentivise builders to build more houses? If so, do you expect that lower house prices would encourage builders to build more houses?