Tuesday, May 04, 2010
Estate agents left to starve as no one wants to play house musical chairs anymore
Guardian: Mortgage lending down almost 90% from 2007 peak
Net lending rose slightly in March - but approvals during first quarter of 2010 down to £3.7bn from £28.3bn in 2007 and the Guardian concludes that high street banks are obstructing first-time buyers and throttling the housing market, after data showed mortgage lending has fallen almost 90% since its peak three years ago.
Posted by enuii @ 08:32 PM (1871 views) Add Comment
9 Comments
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1. fallingbuzzard said...
Saying that house price are going to fall 20% over 5 years whilst your cost of living rises 30% isn't going to sell many newspapers!
2. paul said...
What no-one wants to admit is that the Bank of England is cultivating this environment of inactivity so that the banks don't have to downgrade their assets.
Extend and pretend outcome for all!
3. Notyethomeless said...
I still think rampant inflation with currency depreciation is most likely. Nominal prices can stay the same, everyone can claim to have "saved the world" and, hey presto, everyone's worse off but house prices haven't crashed!
4. xswampyx said...
..... So FTB'ers make up 90% of the market then? Do me a favour!
5. paul said...
I think property optimists have had quite enough favours, swampy.
6. sneaker said...
so what on earth is not just holding house prices up, but making them rise???
a wave of cash buyers that never used to exist???
7. This comment has been removed as it was found to be in breach of our Blog Policies.
8. inbreda said...
no sneaker, the same number that always existed but that now represent a much higher percentage of teh total market on account of the fact that the rest of the market has all but disappeared.
9. Crunchy said...
LOL, That crack just will not be filled. Polycell has its uses, as does a bulldozer.