Saturday, Aug 18, 2007
Let's try to look on the bright side.. please let's..!
Telegraph: Chaos that may just bring stability to the banks' lending rates.
Note the change in tense:- "So, now they are slowly coming to terms with the fact that an almost unprecedented era of cheap borrowing - for both companies and individuals - has come to an end."
Posted by bidin'matime @ 08:24 PM (838 views) Add Comment
7 Comments
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1. paul said...
A little bit myopic - it assumes that now the whole thing is blown over and everything is back to normal more or less.
There are no real long term consequences and actually, its probably done everyone a few favours. What they don't mention is the panic selling that accompanies drops in prices, further accelerating the plunge in values.
At best optimistic, at worst, naiive.
2. whiteknight said...
Oh......... This thing hasn't even got warmed up yet.
3. enuii said...
Notice how unusually quiet hings have become over the weekend on the news front, is this the proverbial quiet before the storm?
4. Brightonrentfodder said...
its only a few hundred squid, why should that make any difference to properties being sold for hundreds of thousands. if they're greedy they'll still put it on the market hoping to make whacking profits. Problem is everyone is trying it so if anything there's a surplus of expensive properties out there. just look at the size of your local property rags.
5. japanese uncle said...
There is a calm before the storm, so they say.
6. Quiet Guy said...
"The seed for all this chaos is none other than the American property sector."
Oh, so it's nothing to do with our debt culture! It's all the fault of those pesky sub-prime American mortgage defaulters.
Hmm... I don't think so.
7. d'oh said...
Is why they did it on a Friday - to give traders the weekend to get optimisitic.