Wednesday, May 07, 2008
Lloyds is Bracing Itself for a Correction
The Times: Lloyds TSB predicts profits rise and house price fall
'Lloyds TSB predicted a 10 per cent fall in house prices by the end of 2009 as the bank bucked the trend to report relatively small writedowns and no need for additional capital.' Today the predicted fall is 10%. Next year's number will be ... ?
Posted by quiet guy @ 01:50 AM (378 views) Add Comment
5 Comments
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1. paul said...
I'm not sure the 10% is the important bit in this story. The fact is that Lloyds TSB was very careful about its strategy unlike its rivals - and fair enough.
Their success is far from the current state of affaris of the rest of the banking industry though, many of whose players are already technically insolvent.
2. inbreda said...
That is why I have transferred a good chunk of my savings to lloyds.
3. titaniccaptain said...
Yep my wedge is in Lloyds aswell
4. geed said...
Indeed, just recently completed setting up my ISA with them due to a bit of research with the help of this site. 6.5% too.
This site has proven to be a handy financial forecasting tool of late. Cheers HPC and all who contribute.
5. uncle tom said...
The markets reacted rather badly to this news - could it be that the forecast of just a 10% fall in house prices was viewed as a sign that the bank was not being realistic with it's projections?