Thursday, Jul 03, 2008
Perfect Storm
Times: Mortgage drought to tighten over debt fears
Lenders said they had reduced the supply of credit because of their expectations for the housing market, the changing economic outlook, changes in their own appetite for risk and their own continuing difficulties in getting wholesale funding.
Posted by pendulum @ 06:41 PM (431 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. planning4acrash said...
Bascially, they've screwed homeowners and consumers for every last drop, and now they are making far too much money in commodity future's markets to have any care for the general sheeple public. Ciao!
2. enuii said...
Why lend money to folks when their house is likely to be worse less than they paid for it in a year or two's time. Plus there is a high risk that many of todays punters may not be able to service any loans they have taken out once Gordon Browns economic miracle self destructs.
3. planning4acrash said...
And, problem, reaction, solution, we are told that adopting the toilet paper Euro is the solution to all our desires, pah!!
4. bystander said...
But P4C you said in an earlier post that speculation only accounted for about 15% of the rises. If all the banks, EU and US and Asian etc, and hedge funds, and pension funds etc have jumped into commodities then that must account for much more than 15%. The huge jump, 100%, over the last 8 months cannot be down to supply and demand and a little speculation. You are right that the devaluation of the dollar and sterling have helped to force many more 'traders' into commodities forcing the price up, but your 15% is far to conservative. My thinking is 50% plus of the current growth, but I'm a fool so what do I know??
5. it_is_going_with_a_bang said...
Mortgage drought?
Mortgage common sense and reasonable lending practices forced onto banks by economic conditions.
For my sins I watched Question Time tonight. Spot the desperate mortgage broker who wants everyone to think its everything is all right - that we are infact just talking ourselves into a situation.
Which I thought was strange coming from him who probably did alot of that himself to borrowers.