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House Price Crash Forum

rantnrave

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Everything posted by rantnrave

  1. I'd rather have this than Osborne's inevitable housing props of yesteryear...
  2. Creditkarma emails me every week to say if only I could get my credit card limit up to £15,000 (its less than half that now), my credit score would improve significantly.
  3. Isn't there some exception that 85% of their lending has to be MMR compliant?
  4. RPI marginally higher than expected at 4.9%
  5. Agreed. Last time round we had major bouts of QE, the official inflation figure hit 5% and the BoE was unmoved. Presumably, these latest rumours suggest we're on a fast track to exceed that soon.
  6. 'Last time this happened was March 2007'. Over the next 12-18 months, this level of price rises of course levelled off and reached a plateau. What followed was a really dull period of static prices... Alternative take on the data - with so little stock coming to market, EAs are falling over themselves to overvalue the most in order to win instructions. This is, after all, an index of initial asking prices.
  7. They've seen Wednesday's data and are (finally) worried... The next rate rise is far less important than the one after - ie, can a second increase be sustained or will it to have to be cut again An upward trend in interest rates requires two rises in a row. That's what I'm waiting to see.
  8. Higher rates for lower LTV - pricing in higher chance of house prices coming down?
  9. https://www.theguardian.com/world/2021/oct/15/chinas-booming-real-estate-market-could-spell-trouble-for-the-economy
  10. Capitalism in this country died when the banks were bailed out. What should have been a significant house price collapse then was staved off by massive money printing and wave after wave of government intervention. We've had a version of crony capitalism since then - with a corresponding misallocation of economic resources and zombified businesses kept alive by ultra low interest rates. Moral hazard abounds. When I see reports that today's younger people are massively against capitalism, I think it gets lost that if the banks had not been bailed out in 2008, by now the relationship between hard work, earnings and property prices might have been restored. Didn't Iceland protect retail deposits, let the banks collapse, lob a few bankers in jail to make a point, endure a couple of years of hardship then bounce back stronger? Capitalism has always had an element of creative destruction. Business enterprises have always run the risk of failure, and the resources they take up then being reallocated to more profitable initiatives. Never has capitalism been about everybody winning all the time, and anyone in danger of losing receiving a state bailout. That is however where things seem to be at today. A separate question is whether that necessary destructive element and the short to medium term hardship it inflicts is compatible with democratic cycles of five years or less. Increasingly, politicians in this country and elsewhere don't seem to think it is. The Chinese authorities of course don't have to worry about such issues.
  11. Another provider upping their easy access rate, by the smallest amount possible, in order to sit at the top of the table: Easy Access Accounts Best Buys | Find the best rate. Keep the best rate (savingschampion.co.uk)
  12. In the aftermath of the '08 Credit Crunch, QE was tried and resulted in a brief uptick of inflation to 5%. That has given the BoE and others the false belief that they can get away with printing their way out of an economic slump. In reality, I think what happened then was that low wages in China, combined with low wages for EU workers here, kept the inflation genie in the bottle. We could however be about to see a more typical outcome to money printing - ie, what many thought might have happened last time.
  13. Investors have however dismissed Greggs' plans to offer takeaway deliveries by drone as 'pie in the sky'
  14. I wonder how our army of BTL amateurs will react when capital growth is negative and savings account start paying half decent interest rates...
  15. Don't stockmarket crashes normally happen at this time of year?
  16. Gove is in charge of preserving the Union, levelling up and housing. They are all very much with an election in mind - keeping the Scots on board, delivering tangible benefits to Tory converts in the Red Wall etc. The communities role is a result of the recent Lib Dem by-election victory. Essentially Gove is to water down recent building permission plans so as to not allow a Lib Dem revival.
  17. Liked this quote: UK house price growth slows but supply-demand imbalance widens – Property Industry Eye Lucy Pendleton, at estate agents James Pendleton, firmly believes that the “froth has come off” the housing market. “A reality check was probably needed nationwide, and it’s London that is probably more ready to take its medicine,” Pendleton added. “Vendors in the capital have been forced to compose themselves over the past month and more sensible asking prices will ultimately help to underpin demand and transaction levels as we move into 2022.”
  18. Existing Marcus customers get an increase from 0.4% to 0.5%. Or, you could just open a new Marcus account and get their latest best rate of 0.6%... Online Savings Account | Marcus by Goldman Sachs®
  19. Umm, because the posts are six months apart? I did start a thread recently about savings rates nudging up:
  20. The Guardian's take is a contrast: UK house price growth slows as end to stamp duty holiday looms | Housing market | The Guardian
  21. Another month of double digit growth is front page news on the BBC website. This graph in their article shows a direction of travel which is likely to break that streak though:
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