Friday, Apr 03, 2009
"...the most debased form of rentier capitalism"
Guardian: Buy-to-let: The truth is out
Article from Tuesday's paper on the shattering of B&Bs illusions. Current mortgage arrears are at 4.6% (compare with worst figure in 1992 of 3.55%)
Posted by letthemfall @ 10:29 AM (801 views) Add Comment
6 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. paul said...
This is the biggest mythbuster for Gordon Brown's "It started in America-ca-ca-ca-ca" rubbish.
2. mander said...
Maybe we do not understand but buy to let as an economic activity creates no jobs and does not help UK to compete globally at all.
3. nubbers said...
The article suggests that worse is yet to come and other lenders may yet be hiding problems. This reminds me of the sentiment in the US 12 months ago, where largely unexpected new financial time bombs have been going off from time to time. I wonder what we have in store as we follow the US down in turn.
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. Spider said...
why does everyone keep calling it BUY to let ?? It's BORROW to let...
6. uncle tom said...
The amounts written off so far are miniscule.
My best estimate suggests that in the final analysis, the nett write downs as a consequence of BTL lending will be in the order of £20 - £30bn