Tuesday, Aug 25, 2009
Seven in a row!
BBC News: Steady rise in mortgage approvals
The number of mortgages approved for house purchases by the major High Street banks has risen for the seventh month in a row, figures show.
Posted by smiling @ 10:21 AM (221 views) Add Comment
3 Comments
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1. 51ck-6-51x said...
Smiling
- I think you'll find that increased lending is not a bullish indicator ( or a bearish one on it's own ) it will just lead to more efficient price discovery. There is, of course*, no reason we cannot have a reinstated bubble [ sorry "return to normality" ] other than the fact that the products on offer and the due dilligence now being carried out by lenders does not allow it.
Ho hum.
2. 51ck-6-51x said...
^^
* The market can stay irrational longer than you can stay solvent - John Maynard Keynes
3. new user 2007 said...
Smiling:
Perhaps you should return when you understand small things like time series data, base effects, the impact of small volumes etc (and that is a long etc).
No argument that people with low IQs, given enough credit, can sustain a bubbles for a time, but a constant for centuries (that asset prices and credit cycles follow closely) is not going to change because the aforementioned people i.e. the likes of you, want it that way.
I would be worried (and surprised) if economic activity did not start stabilising, because that would imply serious problems beyond asset prices!
I hope that you are not one of those odd people that denied prices WERE falling (not the same as saying they WOULD) when all the "famous" housing indicators dropped for a year, but are now using 3 months of data to suggest some major house price upswing...
...that would be quite sad.