Wednesday, May 26, 2010
Nearly there........
The Mail: Are we heading for a new housing crash?
Homebuyers could be battered by a credit clampdown next year if a £300 billion black hole in mortgage funding is not plugged.
Experts have warned that borrowers face higher interest rates, bigger fees, tougher credit scoring and a greater risk of being rejected. Loans to those with small deposits could be withdrawn or carry such high interest rates that they would become unaffordable.............................
Yup.
Posted by titaniccaptain @ 10:39 PM (1614 views) Add Comment
10 Comments
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1. enuii said...
Simple answer - Do Not Buy Now if at all possible - patience will be prudence's reward.
2. jack c said...
I'm surprised you could post this TC as Little Prof posted it up earlier today - anyway it makes a change from The Express headline with the now familiar words house prices rocketing.
3. gone-to-colombia said...
Clearly not,
what, all that pent up demand, magnolia paint purchases, and the smell of fresh bread wafting through neatly arranged kitchens.
The government would not let such a thing happen!
4. titaniccaptain said...
"I'm surprised you could post this TC as Little Prof posted it up earlier today".............DOH!
Sorry guys.......
5. luckyjim said...
I know this sounds like good news but the mail's motivation is to put pressure on the Tories to stop any potential price falls. If there are headlines saying the market is fragile it strengthens the case for those who want to stop the CGT changes. Or, if you prefer, gives the government an excuse to water down the changes.
The fact that Capital Economics are predicting a fall isn't really news at all.
6. When said...
I just wish a HPC would happen. From what Ive seen houses are being sold at more than 2007 levels.
IMO the only way to dampen and send prices downwards is to raise interest rates. I hope Im wrong.
7. mark wadsworth said...
Seeing as nobody else has said it yet:
"It's not a £300 billion black hole (or even £400 billion according to CML); it's that houses are over-priced by £300 billion or £400 billion and/or households have racked up £300 billion or £400 billion more debts than they can sensibly repay."
PS, that £300 billion figure is more than a quarter of all mortgage lending in the UK.
WV: House Homeys
8. happy mondays said...
Gavin & Lucy, should think themselves lucky..
First-time buyers Gavin Jones and Lucy Collins have just been gazumped in their hunt for a dream home.
Read more: http://www.dailymail.co.uk/money/article-1281399/Are-heading-new-housing-crash.html#ixzz0p7Zt2ceb
Recaptcha : keep renting
9. icarus said...
'If this funding gap is not addressed quickly, then there is a very real risk the recovery in the property market could fall apart" = "If the government doesn't keep supporting house prices they'll revert to the level they would be at if..er, the government weren't supporting them"..
10. clockslinger said...
Another Tory organ fluffing you so that (a) when the CGT change doesn't happen on second properties and (b) when the Tories bail out their mates in the city some more they can tell you it is (a) to help "HARD WORKING FAMILIES" (just like you are) TO KEEP THEIR HARD EARNED INVESTMENTS and (b) to help same "HARD WORKING FAMILIES TO GET ON THE HOUSING LADDER!"