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Ray Boulger Failing To See The Wood For The Trees!

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In the meantime England collapse again

107 for 7

The state of the economy becomes insignificant

& gnats like RB die on a windshield

My retort as follows:

"If you cannot see the possibility that interest rates in the UK can go up to 8% in the very near future you have absolutely no right to be commenting on the state of the housing market. Interest rates are ultimately set by the markets, not by the BoE, and 8% (yes 300% higher than current levels but why this is relevent I do not know) is not even that big a figure in historical terms. This article, although extreme, highlights the likely impact of the continued, not-on-my-watch, attitude that dominates financial management in this day and age. Now of course no-one WANTS rates to be up here, in the same way no-one WANTS to sell their house 50% lower than what they paid for it but if we have overly borrowed, and cannot afford to repay, the inevitable result of this is higher rates in the future. Long-term failure of the BoE to match rates to the fiscal position of the country will see the currency collapse, global debt markets become closed to UK PLC and rampant inflation as the cost of imported goods soars due to Sterlings collapse. Do you really think then the BoE would keep rates low just so your credit-induced property boom can be continued? You sir are believing your own hype and are sadly disillusioned!"

Yet to get a reply, must be Drew Wotherspoons day off! ;-)

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The BoE only as control of our domestic rates, that's why we'll end with rates approaching double figures. They are about as competent SFO, FSA, et al.

When this is forced on us by the BoE the public will begrudgingly accept the normalization of residential property prices, they’ll at last be seeing the light of day as it were.

I for one will be watching RB's blog, what a prize muppet.

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  • 415 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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