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House Price Crash Forum


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Everything posted by rollover

  1. New car sales across Europe rose in April for the first time in 18 months, helped by strong demand in the UK and by the early Easter break. Link
  2. Total pay from January to March was just 0.4% up year-on-year Consumer Prices Index shows cost of living is 2.8% higher Number out of work rises by 15,000 to 2.52 million
  3. ULTRA-LOW interest rates risk harming rather than helping the economy, top central bankers and the International Monetary Fund (IMF) warned yesterday, in stark contrast to the Bank of England’s view that loose policy is still best. The economy’s rebalancing can be undermined, inflation may be hard to get back under control, and the eventual raising of interest rates will become tougher and more dangerous, according to Jamie Caruana from the Bank of International Settlements. “Prolonged monetary accommodation gives borrowers, financial institutions and policymakers an incentive to keep kicking the can down the road, delaying necessary repair and reform,” said Caruana. And it “can produce other side effects. Monetary stimulus may find its way into asset prices and leverage before influencing goods and services price inflation. Moreover, prolonged very low rates can distort market signals.” He also warned that central bankers fought hard to cut inflation in the 1970s and 1980s, even at the cost of high unemployment because it was best for long-term growth. These are hard-earned lessons that should not be forgotten. By contrast the Bank of England has accepted above-target inflation in exchange for lower unemployment, and is expected to ease more under incoming head Mark Carney. The IMF joined BIS in warning the Bank against keeping rates very low when the economy is improving, arguing it could have damaging side effects. “Risk taking behaviour, spurred by accommodative monetary policies, could undermine financial stability,” it said. Link
  4. Can I ask you what is the item from an International company?
  5. How long can the party go on for? It can't be forever?
  6. Australia's central bank cut interest rates to a record low 2.75 percent Tuesday as investment in the Asia-driven mining sector hits its peak and the persistently high dollar squeezes local industry. The Reserve Bank of Australia's shock decision to slash 25 basis points takes the official cash rate to never-before-seen lows, and is aimed at priming those areas struggling as the economy transforms away from mining. "With the peak in the level of resources sector investment likely to occur this year, there is scope for other areas of demand to grow more strongly over the next couple of years," said RBA governor Glenn Stevens. "(The bank) judged that a further decline in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target." Link
  7. You mean, banks fear that many IO borrowers will jump the ship and go for bankruptcy or disappear in a foreign country.
  8. Sorry to ask such a silly question, is the party still going on?
  9. Do I have to pay them back? Sorry sir, it's not my fault. I didn't realize these when I borrow money.
  10. May be it is because short mortgage deals after 2 - 3 years are coming to end and SVR is increasing the monthly repayments by 4% - 5% about base rate.
  11. Is it related to cap on rental property and cutting housing benefit?
  12. Far less attention is given to renters, who now constitute more than half the market in London. Of those, half are in the social housing sector, half in the private sector where, as we report today, rents have rocketed by almost eight per cent in the past year, about three times the inflation rate. The rises are made more important by the fall in social and council housing and a corresponding increase in private rentals, from 16.6 per cent of all London homes in 1981 to a quarter now. At the same time, owner occupancy has returned almost to 1981 levels after a surge in the intervening decades. Some renters are plainly being displaced from the housing market by high prices.
  13. How much of Londoners net salary is going on housing — and if they think they will ever be able to buy their own home Here are seven answers
  14. The cost of renting in London has rocketed eight times faster than wages over the past year to a new all-time high. Landlords say there is still “red hot” demand for homes across the capital from couples and families unable to afford to buy. The increase compares with shop price inflation of 2.8 per cent and far outpaces the average rise in earnings, currently running at a meagre one per cent. More than a quarter of Londoners now rent from private landlords compared with just 14 per cent in 1991 but many say they are now being priced out of the rental sector just as brutally as they have excluded from home ownership. There are growing signs that tenants are struggling to pay the higher rents as they eat up an ever higher chunk of their take home pay. For every £1000 owed to London landlords in rent last month, almost £100 was unpaid, twice the level of tenant arrears of just four months previously. Nearly two thirds of Londoners are struggling or falling behind with their rent, leaving little left over for essentials let alone to save for a home of their own. This is bad news for the taxpayer – a chronic lack of affordable housing means more than a third of the housing benefit bill goes on private rent. Link
  15. The tiny opposition Greens Party said on Wednesday: "We've fought for freedom, we've fought to maintain the Cypriot Republic," lawmaker George Perdikis said in statement. "It is, in my opinion, a crime and wrong to deliver Cyprus into the hands of the troika and allow it to become a colony," Fresh uncertainty with news that the country's fractious parliament will vote on. The Communist AKEL and Socialist EDEK parties, which together have 24 seats in 56-seat parliament, have been vocal in their opposition to the bailout, and are seen as likely to vote against, although there is some chance they may abstain instead.
  16. Or perhaps he is out of gold and he doesn't care by now.
  17. Gold prices bounced back Tuesday morning from its lowest price in more than two years and was recently up 2.6% at $1,395.80. The yellow metal yesterday notched its biggest one-day drop in gold since the 1980s.
  18. Goldman Sachs' recommendation to short gold after 12% tumble in gold prices and advising clients to go long natural gas.
  19. Goldman Sachs' recommendation to short gold last week looks pretty good at the moment. Six days later and a 12% tumble in gold prices, gold has now traded below the $1,450 an ounce. The firm is sticking to its short thesis, while also advising clients to go long natural gas. We argued last week that prices could decline more than we initially thought as positioning is stretched and the momentum is to the downside. Link
  20. The southwestern state of Rhineland-Palatinate says the data prompted over 200 raids nationwide against suspects in the early hours of Tuesday. State Finance Minister Carsten Kuehl says he expects to net some 500 million euros ($654 million) as a result. Kuehl says the data was deemed "authentic and of excellent quality" by investigators before it was purchased for 4 million euros. This practice has angered Switzerland but served as ammunition for German opposition parties who object to a government-backed deal amounting to an amnesty for German clients of Swiss banks.Link
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