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Realistbear

Sky: Bank Chief Set To Cast More Gloom On Economy

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http://uk.biz.yahoo.com/090812/140/ip5zb.html

Financial News

Wednesday August 12, 08:29 AM

Bank Chief Set To Cast More Gloom On Economy

Sky News 2009

Bank of England Governor Mervyn King is likely to cast more gloom over the prospects for the recession-hit UK economy when he gives growth and inflation forecasts.*

The Bank's latest inflation report is set to predict a steeper decline than previously thought after a worse than expected 0.8% output fall between April and June.

The forecasts is also expected to show the Consumer Prices Index inflation benchmark, used by rate-setters, is well below their 2% target for the next two years.

The Bank's Monetary Policy Committee (MPC) had access to the forecasts when it agreed an unexpected £50bn boost to the money supply through quantitative easing,

I, for one among many on here, was never fooled. When EAs make statements like: "The increased demand is frightening me" you know the opposite is more true than ever before.

I can smell the sweet aroma of a bargain coming up next year, or perhaps the year after. 4 bed east of Brighton with sea view well under 200k anyone?

__________________________

* Gordon will be very cross this morning.

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upload seemed not to be uploading!

Yup - I really hope this site doesn't go back to the absolute PANTS performance of a year ago or so.... I have struggled to get into HPC today several times..... :rolleyes:

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Yup - I really hope this site doesn't go back to the absolute PANTS performance of a year ago or so.... I have struggled to get into HPC today several times..... :rolleyes:

Yep that is the problem with Y front recoveries

Edited by Sybil13

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I, for one among many on here, was never fooled. When EAs make statements like: "The increased demand is frightening me" you know the opposite is more true than ever before.

I was getting a feel for the market in North London over the last couple of weeks and it has left me very depressed - Houses being sold after 1 day on the market, EA's not even interested in new buyers because they have so many already, Fighting to get into a house to view because of all the others (we were about the 20th on the list they were writing), sealed bids - it was shocking.

I have no idea where all the money is coming from but I can see the recovereh going on for a while longer. The question is what will be the next trigger and when will it be because I have had enough of waiting.

Small houses here are within 10% of peak prices if you can find one on the market.

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Guest Daddy Bear
I was getting a feel for the market in North London over the last couple of weeks and it has left me very depressed - Houses being sold after 1 day on the market, EA's not even interested in new buyers because they have so many already, Fighting to get into a house to view because of all the others (we were about the 20th on the list they were writing), sealed bids - it was shocking.

I have no idea where all the money is coming from but I can see the recovereh going on for a while longer. The question is what will be the next trigger and when will it be because I have had enough of waiting.

Small houses here are within 10% of peak prices if you can find one on the market.

I have no idea where all the money is coming from.....

HA HA - Good one very funny !

Try 1997-2009 - Money Supply - do you think it just dissapeared?

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I was getting a feel for the market in North London over the last couple of weeks and it has left me very depressed - Houses being sold after 1 day on the market, EA's not even interested in new buyers because they have so many already, Fighting to get into a house to view because of all the others (we were about the 20th on the list they were writing), sealed bids - it was shocking.

I have no idea where all the money is coming from but I can see the recovereh going on for a while longer. The question is what will be the next trigger and when will it be because I have had enough of waiting.

Small houses here are within 10% of peak prices if you can find one on the market.

Its the rising employment, loose credit and oprtimism that is causing houses to fly off the shelves.*

My EA through whom I have just signed a 6 month SH tenancy agrement told me that business is so bad in the Brighton area that they are relying on renters to keep their doors open. The house I am renting was on the market very recently for 235k having been reduced from 275k earlier in the year: no buyers therefore its rented. I had three estimates from removal companies to do the move and all three said business is terrible and they are relying on commercial and European trade to stay in business. This crash is well under way and the EA hype is not going to prevent it.

Merv is right.

_________________________

*In an EAs dreams. :lol:

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[

The forecasts is also expected to show the Consumer Prices Index inflation benchmark, used by rate-setters, is well below their 2% target for the next two years.

]

Surely this will mean cheapish money will be around for a while then.

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