Wednesday, Feb 24, 2010
Live in it. Don't depend on it.
Independant: Bank warns on house prices as QE anxiety hits sterling
Stark warnings about the prospects for the economy and the housing market have come from the Governor, Mervyn King, and other policymakers at the Bank of England.
Giving evidence to the Treasury Select Committee, Kate Barker, a member of the Bank's Monetary Policy Committee and the author of two government-sponsored reports on the property market, said that "there are still adjustments to come in the housing market". She added: "It seems more likely than not to me that mortgage finance is clearly not going to be available going forward on the terms it used to be... I was rather surprised by the strength of prices in the housing market through last year and it's possible some people delayed decisions to move or put houses on the market. In some sense that can't continue."
2 Comments
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1. paul said...
Quick Bank of England, throw some more free money courtesy of those evil hoarding savers at the mortgage lenders so that they can continue not having to pay savers a return and can keep inflating your investment portfolios!
The economy depends on it etc.
2. str 2007 said...
Makes you wonder how loaded staements like that are ?
A bit like Soros saying Golds in a huge bubble to lower the price a bit while he fills his boots.
Is Mervyn secretly wishing his property portfolio was significantly bigger ?