Thursday, Dec 04, 2008
Back on track to what?
Telegraph.co.uk: Interest rates cuts: Interest rates need to fall to 1pc to kick-start housing market
Housing experts today warned that The Bank of England needs to cut interest rates further to 1pc in order to get the housing and mortgage markets back on track.
Posted by v stor @ 07:28 PM (338 views) Add Comment
4 Comments
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1. fjcruiser said...
When you fear for your job, when you fear that what you buy today will be cheaper tomorrow you do not wish to borrow any money at any rate it may be. This article is just VI talk.
2. bystander said...
"Government and lenders must do more to encourage first time buyers on to the property ladder in order to reverse the current downturn in the market.”
................surely Mr. Bolton King you mean Estate agents must do more to encourage first time buyers onto the property ladder by realistically pricing housing in order to stabilise the current downturn. EA's were complicit in the fraud that generated the boom over the last few years and yet deserve a bailout in the form of irresponsible lending or government, taxpayer, aid. Price realistically, say at 1998 levels and they will come.
3. timmy t said...
"Housing experts today warned that The Bank of England needs to cut interest rates further to 1pc in order to get the housing and mortgage markets back on track."
What a stupid comment - the housing and mortgage markets are on track. It might not be the track these "experts" want but what else did they expect after 15 years of ridiculous price growth and irresponsible lending? This is the only appropriate track until the market corrects.
4. crash bandicoot said...
timmy t, perhaps they want to get back on to the Inside Track :-)