I Told You So

knowing the area, there are thousands of new flats down there its ridiculous trying to turn a Suffolk back water into the Docklands, its just too far to commute to London although some fools do. Heres the maths; Two bed new build after negotiation and agent fees about £600/mth = £7200/yr Based on old landlord maths of an 8% yield minimum, true value = £90000 And that my friends is roughly where these flats will be in a year or so.

Its a joke, how does a 7-2 indicate an imminent cut???????????? Also i'm pretty sure that they wouldnt have had access to the CPI figures as the vote was early in the month Lets see how imminent a cut is when the CPI goes higher still next month.

Blanchflower is an idiot whens his tenure up? The vote should be read as 7-1 as he is irrelevant. They will find it very hard to cut this year, inflation will continue to climb look at the EU latest of 3.3%

Get in there This is just the start, remember EU was 3.3% last week Darling/Brown will be on the blower to Merv begging, personally I think he will tell them where to go, especially as he's been signed up for another 5 years

Presumably, a large % of the UK's Bear Stearns office will be laid off?

the guy's a joke, he caused this whole mess and is in denial

The only sad thing about this story is that its shows just how stupid/uneducated (financially) the vast majority of people are in this country. If ever there was any debate about including personal finance classes in schools then this surely ends it.

London will fall the same if not more than anywhere else Reasons; City will lose thousands of jobs, bonuses will be subdued for years eastern europeans will start drifting home - fewer jobs, continued collapse of the £, improving prospects back home Look at the current price v rentable value of any property in London, even interest only the rent will cover only 60% - 70% of the mortgage = unsustainable Stock is growing rapidly with all estate agents, some people will have to sell and set a new price level - divorce, death etc BTL repos will go through the roof later in the year everywhere especially London I think the same thing happened in the US, falls everywhere except NY then it hit there

They must want a HPC or are to stupid to realise what will result from these actions. BTL collapse is now a certainty, followed by the rest of the market

in hindsight this will have little impact because its not job loss/illness that will cause repos, its just the simple fact that people cannot afford the new monthly payments when they come off a fixed rate oh hang on Gordon what if you come up with a new tax cedit to help these fools with their increased mortgage payments?

pathetic charities and Labour need to wake up and smell the coffee, no one is going to be willing to pay for this tripe

well thats sealed in no more rate cuts this year, in fact they will soon run out of excuses not to raise rates I can't see any rate cuts til next year which will be way to late to save the property market, not that the BoE have any effect on mortgages rates anyway

from my experience the vast bulk of the population would happily go out and load up on a BTL portfolio but fortunately they can no longer get hold of the money

I live in a flat that before the crunch was probably worth £400K and the rent is £1200/ month £14400/year Interest only assuming 6% = £2000/month £24000/year thats £800/mth or £9600/year shortfall Madness i say madness dont anyone dare say but but what about the deposit the mortgage will only be say 300K, well your still loosing the interest you would get by leaving the £100K in the bank other examples £600K flats renting for aound £450/week you do the math but its similar

There must be a few "investment clubs" teetering on the edge by now

US inflation is going to go through the roof Ben just accept it your f**ked and theres no amount of IR cuts that will solve it Pathetic

"for state support for mortgage payments! " I'm sure Gordon would like nothing better than to arrange some kind of bail out for the financially illerate (most people under 35) but it still has to be paid for and they are flat broke.

They wont get a penny at best some sort of options that give them a payout if NR go public again and make a profit bob hope and no hope

One of my local EA's has 40 properties listed on its website, none sold or under offer, I also noticed that 11 had no furniture so almost definitely BTLs. Thats over 25% BTLs trying to get out, could be more just because they have furniture doesnt mean there not BTL. The predicted exchange by the 6th April to come under new 18% CGT rule is obviously happening. In it for the long term

its spooked the city, short sterling down 12/13 ticks on many contracts

yeh yeah that old cheshnut

http://news.bbc.co.uk/1/hi/business/7256267.stm Retail sales up 0.8% in January

Inflation is now rampant across the world, US yesterday 0.4 up on the month, China also recording a record and Europe consistanly over 3%. The idea that the UK is somehow immune to this is crazy. Therefore the CPI will reach new highs in the not to distant future, but what would it have to hit for the BoE to raise rates, 3.5%?????

couple of points 1. I have some close friends in major banks in the city and they are all in fear of their jobs and wern't to optimistic on bonuses 2. Most are getting 80% - 90% of their bonus in shares which they are not allowed to sell for a considerable length of time.

Just a thought, now that auction prices are going through the floor and numbers are increasing surely this will bring in large falls in the Land Reg figures but not the VI indices as they are not included. Should be interesting to watch the two diverge in the coming months