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We're all dooomed!!!

Mortgage Approvals - What's Really Happening?

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I can't deny that one recent statistic has me a little worried and that is the rise in the level of mortgage approvals that various sources of the press trumpet out with some sort of fanfare every five minutes. What do people think is really happening? Are they rising fast or are we talking about a slight recovery from historic lows which is just being blown out of all proportion? If the first one is true I'm worried that enough stupid, debt-crazy Brits could be conned into borrowing crazy amounts of money again and cause another, admittedly rather limited boom in the housing market. I think this government would do anything to paper over the cracks until the next election no matter how damaging it is in the long term. :angry:

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