Monday, Jun 22, 2009
Property Values Dependent on Lending Levels
City am: ECONOMIST VIEWS: WHAT ARE THE PROSPECTS FOR THE UK HOUSING MARKET ?
Surprise surprise we read it every day but with mortgage lending levels severely restricted due to the closure of the RMBS market leaving lenders reliant on dwindling deposits then as the CML said: "Activity remains at extremely low levels on any historic comparison – and weaker than at any point in the early 1990s. Limited lending capacity and the impact of further job losses are likely to act as a ceiling for how far the improvement can continue."
Eventually I suppose we will ALL get it, that the market HAS to adjust back to pre 2001 levels before the opening of the RMBS market fueling the bubble of all bubbles.
Posted by sybil13 @ 07:31 AM (460 views) Add Comment
1 Comment
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1. stillthinking said...
Property speculation is a derivative bet on future availability of mortgage funding. So all the UK negative equity folk are unsuccessful derivatives traders.