Sunday, Jul 05, 2009
Mortgage Rationing Could Put a Lid on Recovery
Property Times: Have house prices finally found their level?
Quite a bearish article for the normal bullish Property Times
" Caveats apply: Bank of England figures showed mortgage approvals rising but only modestly, and still well below normal levels. Mortgage rationing could put a lid on any further recovery in activity, and the fear remains of a W-shaped graph — where prices rise only to fall back again. "
"t would be wise to wait to see what happens to mortgage availability over the autumn and winter before concluding that prices have stopped falling. Some say an overshoot on the way down is required to lure cautious buyers back into the market. "
Posted by sybil13 @ 08:34 AM (810 views) Add Comment
10 Comments
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1. techieman said...
sybil13 - did you see this yesterday? http://www.housepricecrash.co.uk/newsblog/2009/07/blog-avoids-the-wider-issues-but-a-good-read-nonetheless-24201.php - nicowens @23 and mine @33. There are a couple of bullish comments by "sybil13" from bournemouth on the article itself.Invasion of the body snatchers? would the real slim shady please stand up, please stand up.
2. techieman said...
infact looking at the comments on the bottom of this article, kate from Portsmouth sounds more your style
"People do not seem to understand that there is a ceiling on how far things can recover. 50% of lending in 2007 came from the RMBS market which is now closed leaving lenders reliant on dwindling deposits, approvals are 50% down on what is considered supportive of a stable market prices have to fall
Kate, Portsmouth, UK".
3. paul said...
This is silly old Noshbag Smithy.
Everything that comes from him smells funny and has done for years.
4. sybil13 said...
No I did NOT post those comments that must be HAMISH don't you think? I am so angry, how dare he. Where is Hamish posting these days, will someone put a post on to say what he is doing?
5. techieman said...
sybil - well i have no idea - it weren't me though! Not sure there is much you can do about it though (spose you'd have to check that with the Times) - even though Hell hath no fury and all that... So you haven't morphed into Kate?
And me going to the trouble of pointing it out ... thats ok no need for thanks :-).
Pleased to see you remain Ms Uber Bear. ... Hope you didn't choke on your cornflakes.
6. devo said...
4. sybil13 said... No I did NOT post those comments that must be HAMISH don't you think? I am so angry, how dare he.
I read those posts as some clever reverse psychology on your part sybil13.
Don't worry about it.
7. David said...
The average house price is 85% higher today than it was in Jan2001.
Has the average wage risen by 85% in that period?
The days of banks lending 7,8x salary are long gone and were always insane, [Thanks to the Labour Government]
Thats all we simple people people need to know Mr Smith.
Your complex fibonnaci-esque economics, mean very little.
Long Long Long way to fall yet, and I will be asking you, after they have crashed back to 20th Century prices, Mr Smith, which they SO obviously will, why I was able to see that, but you, as The Times economist, could not see it?
8. sybil13 said...
Sorry Techieman for not saying a BIG THANKS for pointing it out. I have no idea how many other posts he has made in my name haven't got time to trawl all articles
9. techieman said...
Sybil - thats ok i was only teasing. The reason i pointed it out was so that you had an opportunity to set the record straight. Since we are all virtual anyway i wouldnt be too worried. If you are like me at some point in time i will probably become a bull... just not for a while yet.
10. titaniccaptain said...
Congratulations Sybil13.
You know your doing something right when someone starts impersonating you to try and discredit you.