- View Past :
- 10 Articles
- Today
- Yesterday
- Week
- Archive
- Add New Article
Saturday, May 17, 2008 
This is called 'Progress'
THE INDEPENDENT: Prices up, profits up: businesses pass on cost of economic crunch to the consumer
Concern is rising that consumers rather than businesses are bearing the full cost of the credit and raw material crunches that are destabilising the world economy and threatening to plunge some countries, including Britain, into recession. One step forward Two steps back !
Housing crisis in full swing
Standard: Town halls fear two million families will need social housing
Councils are struggling to cope with the flood of people turning to them for housing because of soaring mortgage costs, high property prices - particularly in London and the South-East - and more repossessions. Experts have already predicted that young middle-class people face having to live in council houses because they will be unable to buy or rent a private property." Tell me, how are prices and rents going to rise if people can't afford them?
Cartoon
Telegraph: Cost of Living
Cartoon on the cost of living and press previous for one on Gordons re-launch
The Bank is not blameless
John Redwood: Why has the government and the Bank of England failed us on inflation?
John asks the BoE ten questions. Long article and I suspect some will dissagree with some of what he says.
4.6 million households without fulltime employment
Chennel4: 4.6 million households without fulltime employment
shows more of the crash gordon b*****cks of employment....on benefits more like of credit cards
Uh oh
FT: Inflation figures damp hopes of ease on lending
"Borrowers should brace themselves for yet more increases to mortgage rates as the latest jump in inflation and a bleak economic picture renew the pressure on lenders." Dear oh dear.
Just the excuse than Banks need to hike mortgages rates to cover their forthcoming losses
Times Online: Prospects of cheaper loans hit as inflation forecast sends Libor soaring
Two-year swap rates, a key benchmark for fixed-rate mortgages, have leapt from 5.27 per cent to 5.63 per cent in the space of a week. Darren Cook, of Moneyfacts, said: “We’ll see a bit of a lag and then fixed-rate mortgage rates are going to go up again.”
Please buy a house
Bloomberg: Fannie Mae Bows to Pressure on Down Payment Standard
Fannie Mae, backing down from pressure from homeowner and real estate groups, will allow buyers in markets with falling home prices to purchase houses with 3 percent down payments, potentially increasing the company's risk.
Q1 2008 house price fall from the Land Registry data
BBC Property: UK House Prices
Find out the actual price fall in your region. Greater London 0.6%, South East -1.2%, South West -4.0%, East Anglia -1.5%, West Midlands -4.7%, East Midlands -4.6%, Yorks & Humber -4.9%, North West -4.4%, Wales -5.9%, Scotland -5.1%, North -3.7%. http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/regions/html/regions.stm NB. Contradicting to yesterdays BBC News “Scottish house prices rise again” (said by the VIs), Scottish house price has suffered from the second largest fall –5.1% according to the data.
Housing shortage? What housing shortage?
FT: Merryn Somerset Webb: It’s common sense that is in short supply
"But the best bit of all is the way this seemingly sudden surplus of new houses – houses no one wants to buy – throws light on the nonsense that has been used to rationalise the housing bubble over the past decade." Merryn shows up our dim politicians.
Main Blog | Archive | Add Article | Blog Policies