captain sensible
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Posts posted by captain sensible
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there are inflationary pressures in the economy ...
Yes, oil steel etc but no significant wage inflation and certainly no inflation in price of widgets. Those busy chinese chaps just keep churning em out.
HPI has caused inflation in plenty other areas eg construction. With HPI stuck these will not be an issue.
BoE can happily hold and has scope to cut. Not a lot, but 0.25 by Jan is my guess.
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I see you've recently registered. But I wanted to ask, are you the old CS? Or a new one who's chosen the name by coincidence?
Yeah nice new site same old hack. good to see you again TTRTR - seems we agree on IRs
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History is relevant but can't predict the future with it.
Rates is going down. No reason for them to rise any more.
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I reckon a 0.25% drop
Given that the main reason they went up was house prices... now the market is spooked (ignore Express hype but see hometrack link from HPC - very revealing), I think the BoE has scope to make a cut. And will do so to reassure market and try to prevent a crash.
I give you three to 1 that we see 4.5% not next month but by January for sure. Bet limit 2 whitby kippers or equiv. Any takers?
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Derby: Asking prices went up Jan - July eg 180k went up to 215k. Have been pretty static since then. Some signs of small reductions, but still getting SOLD and not much new stuff coming onto market.
Anecdotal evidence however: speaking to someone yesterday about a property they've been trying to sell since March - nothing wrong with it, but priced a bit high. Viewings dried up in August and they haven't had anyone round since.
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Ahhh Durham, part picturesque high class university town, part windy mining village.
Up there recently chatting to an off duty estate agent, and he advised not to buy. "Hang on for the next few months". Works for one of the main agencies in the area.
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was that sarcasm? genuine question.
yep. sorry - hope you like it dry
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no, surely no-one would get an interest only mortgage with prices this high. I mean, that would be overstretching yourself in the blind hope that prices carry on rising. Are you calling the great british public stupid?
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would that product be interest-only mortgages?
No one would be stupid enough to buy those.
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What I do?
Company director coasting on the royalties from my product. Wondering whether to invent a new product, buy a house or go surfing.
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check out the aeriel view zzg for what it's worth - jog your memory?
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You're both right.
From a UK economics point of view, STR is MEW, because equity is being removed from the housing market as a whole. Thus the Bank is right to consider them the same thing.
However from a personal point of view, selling and locking in profits (STR) is very different from taking out a great big loan against a variable asset (MEW).
BoE sanguine on house market crash
in House prices and the economy
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Does it? How?