Thursday, Aug 30, 2007
No more cheap money to sustain the housing boom
MoneyWeek: Is UK housing set to follow the US into a slump?
House price rises in the UK appear to be finally slowing down. And with the cheap credit fountain that has sustained the housing boom shut down for the foreseeable future, the market looks set to weaken further.
Posted by mary @ 12:14 PM (309 views) Add Comment
6 Comments
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1. Realist said...
"We’ve got more on the UK housing market and why our subprime sector is much bigger than anyone thinks in the latest issue of MoneyWeek, out on Friday"
I've been saying this for a while. The extent of subprime lending in the UK will only become clear when the market stalls and starts going into reverse as it has in the US. By subprime I mean mortgage lending that is unserviceable once you strip out the assumption of 10% capital gains increases year on year and easy refinancings into new attractive deals. Anyone who says we don't have a subprime problem in this country is living in the clouds.
2. Pecker said...
GAME OVER!!!
3. sold 2 rent 1 said...
Quote:
"We’ve got more on the UK housing market and why our subprime sector is much bigger than anyone thinks in the latest issue of MoneyWeek, out on Friday."
Anyone know why our subprime sector is much bigger than anyone thinks? Are they including BTL, 100% mortgages, fraud mortgages????
4. Delboypass said...
You forgot 125% morgages, 30 year morgages, 50 year morgages and the rest....
5. Bloo Loo said...
self cert- used to be called "Liars Loans"
6. Chris_86 said...
don't forget all the "self-cert" 's