Thursday, Aug 09, 2007
more doom and gloom for householders from the tabloids yippee
daily mail: Bank chief fears for 'vulnerable' families as rate increase looms
Mortgage and other debt repayments could rise to punishing levels after Bank of England chiefs signalled yesterday that the base rate is likely to go up again soon.
Posted by sold out @ 07:44 AM (119 views) Add Comment
4 Comments
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1. paul said...
Forget those young people priced out of owning their own place, pity the poor investors who have overstretched themselves to widen their property portfolios ...
2. inbreda said...
You should pity them Paul. Not only are they stupid, but they are soon to be penniless as well. How many blows can life deal them? I'll bet some are ugly as well!
3. Wavey Davey said...
Many, if not most of the people who lose their homes will not be the buy-to-let property speculators, they will be people who have worked hard and over stretched themselves to get a property. The buy-to-letters may loose their investment but then the people who will really suffer are those who rent the property and subsequently find themselves homeless when the bank repossesses. I know we may all want a price crash but it's not very becoming to gloat at the misfortunate caught up in it all.
4. doomwatch said...
6% is not "punishing", when the long term average is 8%. Anyone who has not priced for this will suffer the fate they deserve I'm afraid.
This is the same media vested interest world where rsing
house prives are viewed as a good thing ?