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 !

Posted by plato @ 09:41 PM 0 Comments

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?

Posted by confused76 @ 05:58 PM 15 Comments

Cartoon

Telegraph: Cost of Living

Cartoon on the cost of living and press previous for one on Gordons re-launch

Posted by who stole my pension? @ 03:08 PM 3 Comments

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.

Posted by who stole my pension? @ 02:27 PM 4 Comments

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

Posted by taffee @ 01:27 PM 6 Comments

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.

Posted by letthemfall @ 11:51 AM 0 Comments

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.”

Posted by inthedelhi @ 11:45 AM 0 Comments

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.

Posted by mken @ 11:22 AM 0 Comments

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.

Posted by crashonitsway @ 11:02 AM 6 Comments

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.

Posted by letthemfall @ 10:26 AM 9 Comments

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