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AntiSpeculator

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About AntiSpeculator

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    Computing<br />Taekwando
  1. If it forces a firesale that's bad enough, but isn't it more than just this, though? OK most muni bonds have a low rate of default, but the main problem is with to the insurance of CDOs and MBS that are now being defaulted on/have lost value in the states and the holders of these who thought they were insured up to the eyeballs (AAA rating) against that event (they thought they had it covered). If there are downgrades to the insurer of bonds/CDOs/MBS etc then If you sell these bonds in a firesale, you lose. If you hold on to them and they default/devalue, you lose. If you hold on to them and they don't default it would still be hard not to post writedowns to their value as they no longer insured with the same level of "creditworthiness". Instead of holding a prime bond you find out that it is only subprime.
  2. I actually think/hope a rate could can be bad for the housing market because of buyer psychology. The thought process goes something like this: "I keep reading that the economy is turning down and house prices might/will fall a bit next year. Now they've reduced the interest rates because of it. If this is the beginning of a rate cutting cycle then I will be better off if I wait for lower house prices *and* possibly more interest rate cuts!" This is the exact opposite of that weird effect where raising the rates caused more HPI due to people thinking they had to buy on a lower fixed rate before rates went up again.
  3. Chrysler is owned by Cerberus - one of the firms that might bid for Northern Rock. Do you think they will keep the staff at Northern Rock?
  4. http://news.bbc.co.uk/1/hi/business/7073406.stm Chrysler to cut 10,000 jobs in US US car giant Chrysler has announced plans to cut at least 10,000 jobs, months after it was bought by a leading private equity firm. Up to 10,000 hourly jobs will be cut next year while at least 1,000 salaried positions are also expected to be lost. The layoffs come on top of 13,000 jobs that Chrysler - bought by Cerberus in August - is already shedding. Chrysler said market conditions had worsened since the buyout and it needed to reduce costs more aggressively.
  5. A little birdy tells me that the large Eli Lilly site by the Railway station closes in 2008 and has been sold to a "property developer". What this town centre needs is some more high-rise luxury flats! Go on...
  6. It could well be a bargain, but perhaps potential buyers don't want the risk to their reputation. They could get tarred with the same brush with all the panic associated with NR. Perhaps a foreign bank/investor will buy...
  7. I was thinking something along those lines. I wonder if anyone else holding the pursestrings will realise this.
  8. http://news.bbc.co.uk/1/hi/england/hampshire/5124874.stm Not a very good day.
  9. This isn't going to help the local economy: http://news.bbc.co.uk/1/hi/england/hampshire/5124874.stm
  10. Perhaps he hasn't appointed because he knows that rates have to go up. If there is an equal split vote then Mervyn's vote wins, right? That way rates can go up and Brown has an easy scapegoat.
  11. I suggest this form of "affordability" based on the cost of servicing debt for current property prices should be grouped with other rental affordability. It should not be confused with any notion of actually buying property. I'm sure that there are some people who are only too happy to confuse/mislead.
  12. Like it Coming round here with your 'I've made fifty bazillion pounds out of renting property out to you' and your 'property always goes up'!!! Oi! Landlord! NOOOO!
  13. I hate people like that. What he is saying is along the same lines as 'Well I just buy up all the food, and then the people that can't afford to buy it first will have to buy it back off me for even more money' mu ha ha ha!!!! In fact - Arrrrrgh!!!!!!!!!!!!!!!!!!!!!! I can't believe a man I have never met has made me so angry!!! In fact... I'm so angry my post didn't even make the slightest bit of sense!!!!!!!!!!!!!!
  14. On the rental front. I have successfully (and easily) defeated the attempt at rent increase. Can't be bothered to argue for a decrease though.
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