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Smell the Fear

Uk Lending Being Discussed

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"Basically, we can't buy anymore!" reporter says.....

Ross Walker (RBS) was somewhat more frank than the normal VI rubbish.

Said that prices were "close to" historic highs - that is an admission that prices have dropped, clearly.

Also said that mortgage lending data suggests that people are on average paying less for houses compared to last year.

BoE - his opinion is that they are in a "catch 22" regarding rates. If they put them down we will borrow more, increasing the debt problem. If they put them up, economy will suffer. He expects static at 4.5% for rest of year, possible falls early next year.

He said he expected small falls in house prices over next few years.

Ditzy presenter rounded off by giggling and saying "that was very complicated as usual, but he was giving opinions which most of them are usually very reluctant to do".

Translates as " that was all over my head, but at least he said something, eh?"

:P

edit: more info.

Edited by Smell the Fear

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Ross Walker (RBS) was somewhat more frank than the normal VI rubbish.

Said that prices were "close to" historic highs - that is an admission that prices have dropped, clearly.

Also said that mortgage lending data suggests that people are on average paying less for houses compared to last year.

BoE - his opinion is that they are in a "catch 22" regarding rates. If they put them down we will borrow more, increasing the debt problem. If they put them up, economy will suffer. He expects static at 4.5% for rest of year, possible falls early next year.

He said he expected small falls in house prices over next few years.

Ditzy presenter rounded off by giggling and saying "that was very complicated as usual, but he was giving opinions which most of them are usually very reluctant to do".

Translates as " that was all over my head, but at least he said something, eh?"

  :P

edit: more info.

So, you lot spend all bloody day moaning about VI spin. A VI comes forward (Ross Walker, economist at RBS Financial Markets) and states prices have fallen and will continue to fall for several years.

And you have no comment?

Surely this is an almost-historic comment by VI standards?

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Its good that falls are being reported not just by the media in general but also the VIs. I think there is a long way to go yet before the general public have the correct mentality about the direction of house prices. It would be great if it was generally accepted that prices are going to fall, by the end of this year.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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