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gravity

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About gravity

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  1. bearish as a bear can be...

  2. Hi Remorseful Broker Good post. If you could put a figure on it, how many loans would you say were `subprime` in the last, say, three years ? Many Thanks
  3. This is incredible. How many times over the last few days on this forum have people said exactly this will happen ? There is no reason for the banks to lower lending rates so now a bankrupt government have helped raise banks profits by lending upwards of £50 billion.
  4. Well said FP. Something Ive been worried about for a while, the Government spending money in every direction while quietly bankrupting the country. The economic mismanagement of Brown & Co. has been astounding. Keep it up.
  5. Just said this on another thread, but it pretty much follows what everyone on here already realises: Robert Peston has just been on the BBC lunchtime news very doubtful if the bailout will mean lower mortgages. As he said, the banks realise that the housing market is overvalued so wont be rushing to expose themselves again. Hope this gets repeated on the 6 and 10 oclock news !
  6. Robert Peston on BBC news at 1.00pm just hit the nail on the head: Will this bailout mean lower mortgages ? NO !. The banks realise the housing market is over valued so why increase your exposure? Obvious.
  7. Well put. How likely are the banks to reintroduce 125% or 5 x salary mortgages??? The Governments just going to end up another 50 billion in debt while facing a recession with an existing 35 billion hole in the budget before Northern Rock and this fiasco. Does anyone know if there is something in place to force the banks to reduce the cost of borrowing, or prevent them taking the money and running for the hills?
  8. ``Allsopp, who never went to university, is prepared to take on the economists. `` Now why, do you supose, she never went to university ?
  9. and fecking low inflation ! Edit to include : Global, dont forget global `cause its not my fault.
  10. Well said on both counts. This thread reminds me of the House Price Crash debate a couple of years ago. If anyone dared to suggest that houses may not always go up in value, you were derided as a heretic. The Global Warming debate has the same hold on the masses.
  11. The idea that house prices will crash has finally got out there. If you suggested anything like this six months ago you were a heretic, now its in the mainstream press and BBC. The amount of housing put on the market should start to rise markedly in the next month with all the BTLers getting out after the capital gains reduction in April. Also, all those who have bought in the last couple of years coming off 95 – 125% fixed rates and re-mortgaging are in for a shock when they have to find a cash lump sum as a `deposit` or suffer the punitive interest rate will be the forced sellers needed to knock it over the edge. Its all supply and demand. Loads of supply and no demand.
  12. Maybe its because Im getting older but the use of the Comedy Price Index as a measure of inflation makes steam come out of my ears. Liebour wanted to use the CPI measure in order to manipulate lower interest rates by knocking out real measures of inflation and so create the HPI and consumer boom. Everyone `feels` wealthy and votes them in again, and Gordon the Clown spanks the countrys wealth with nothing to show for it. Brilliant. Or am I a cynic ?
  13. Spot on. Just because your house is quality, doesn’t mean your financial situation is. Everyone, as already said, is being hit with higher living costs, taxes, mortgages etc. Consider this anecdotal: I have a good friend who maxed out on an interest only mortgage in order to buy a quality barn conversion. Original stonework, open fire, nice garden, lovely village etc. Get the picture? He figures if he spends all his mortgage repayments on an interest only, instead of splitting between interest and repayment he can get a bigger house, which to be fair, is true, only now he’s getting squeezed like never before. Higher fuel and lecky bills and now is coming up to re-mortgaging. How long before the banks start getting insistent about seeing evidence of repayment vehicles? Now he’s like Alistair Darling. Stuffed with no room for fiscal manoeuvre.
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