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Imf Highlight Brown's Mess In Latest Report

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This report exposes most of Brown's lies about the state of the housing market pre and post bubble burst.

http://www.imf.org/external/pubs/ft/scr/2009/cr09212.pdf

And the interest rate rises that will be forced upon us, to maintain economic stability i.e. avoid collapse of the pound. I think it will be this that will trigger phase two of HPC - so many morgage holders are hanging on by their fingertips only because of historically low interest rates.

Edited by othello

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And the interest rate rises that will be forced upon us, to maintain economic stability i.e. avoid collapse of the pound. I think it will be this that will trigger phase two of HPC - so many morgage holders are hanging on by their fingertips only because of historically low interest rates.

yep

the housing market is suspended at the moment by the low interest rates. As and when they are increased expect to see the housing market fall further.

There is a big difference between a SVR of 2.5% now and the historic average of 7.5%

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And the interest rate rises that will be forced upon us, to maintain economic stability i.e. avoid collapse of the pound. I think it will be this that will trigger phase two of HPC - so many morgage holders are hanging on by their fingertips only because of historically low interest rates.

Are you sure the IMF will do that?

I'm not convinced, doing that will cause an economic collapse leaving an even bigger mess. What the IMF should do is force higher debt repayments to reduce the debt.

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And the interest rate rises that will be forced upon us, to maintain economic stability i.e. avoid collapse of the pound. I think it will be this that will trigger phase two of HPC - so many morgage holders are hanging on by their fingertips only because of historically low interest rates.

If I were in power, I would want to see a lower pound right now. It is the one instrument that never fails to deliver. Lower the value of it, and suddenly your exporters experience turbo-charged growth and profits.

So if the current policies really are going to cause the pound to fall, I would want to keep on with them.

Sadly for the IMF muppets who wrote this report, the Pound has risen pretty strongly recently, despite the extraordinary Quantitative Easing exercise by the Bank of England. Does the IMF know what it is talking about?

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.

There is a big difference between a SVR of 2.5% now and the historic average of 7.5%

I wish! The SVR of my local Building Societies range from 3.99% to 4.99%.

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I wish! The SVR of my local Building Societies range from 3.99% to 4.99%.

The lenders that have the majority of the mortgage market have a SVR of around 3%. Most borrowers coming off their deals are opting to stay on the SVR. As the SVR creeps back up to the long term average, then they will have to take a rate deal of around 5%+ if they have enough equity

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I'm convinced Brown is just holding on to set the Tories up, keeping int rates low until the Tories take over, then they have to go up and then blame the subsequent full on crash on them.

Its full on scorched earth, lay it to waste so the Tories inherit one hell of a mess.

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