Nationalist Posted June 2, 2011 Share Posted June 2, 2011 Here's the quote, from this article... Reading between the lines, the balance sheets of more and more of Britain’s mortgage slaves are becoming increasingly fragile. It won’t take much – maybe just a small rate rise – to push many over the financial brink. And that could unleash a torrent of forced selling that could send UK house prices tumbling. Of course MoneyWeek has been bearish for years and years... Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 2, 2011 Share Posted June 2, 2011 MSW is a member here. Quote Link to comment Share on other sites More sharing options...
wjk Posted June 2, 2011 Share Posted June 2, 2011 Here's the quote, from this article... Of course MoneyWeek has been bearish for years and years... Since home buyers entered into the arrangement of their own free will, slaves isn't really appropriate. Suckers or fools is probably a better term. The tax payers forced to bail out the banks is another matter. In that case, they have no choice and are punished if they don't pay their taxes, so the slave term actually fits. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted June 2, 2011 Share Posted June 2, 2011 Hang on- I thought the correct term was 'savvvy investor?' Quote Link to comment Share on other sites More sharing options...
DeepLurker Posted June 2, 2011 Share Posted June 2, 2011 Since home buyers entered into the arrangement of their own free will, slaves isn't really appropriate. Suckers or fools is probably a better term. Sometimes people did become slaves of their own free will. So the comparison with mortgagees is accurate. Quote Link to comment Share on other sites More sharing options...
Maggot_with_halitosis Posted June 2, 2011 Share Posted June 2, 2011 Does that mean we'll finally get to see Kirstie Allsopp eating a hat? I've been waiting sooo long... Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 2, 2011 Share Posted June 2, 2011 Does that mean we'll finally get to see Kirstie Allsopp eating a hat? I've been waiting sooo long... She looks like she's eaten more than a few already. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 2, 2011 Share Posted June 2, 2011 MSW is a member here. MSW bought in June 2010 We've just bought a house. It is exactly the kind of house we have long wanted to live in, so we are thrilled. But I am also pretty sure that, while buying it might be a good thing for family stability, it will also be the worst financial decision we have ever made. You don't need to know that the average house price is still well over five times the average income – or that the average first-time buyer was forced to put down a deposit of £50,000 in March, or even that more than 80% of adults under 30 are unable to afford to buy any kind of house in the UK, according to the National Housing Federation – to know that house prices are still in bubble territory. Instead, you just need to look in an estate agent's window. That usually does it. That said, markets keep showing us that things can stay at the "wrong" price for years. So, saying that house prices are too high isn't necessarily the same as saying they are going to fall. For that, we need a trigger of some kind – such as the subprime crisis that kicked off collapse in the US and a mini shock in our own market. ..... http://www.moneyweek.com/investments/property/merryn-somerset-webb-uk-house-prices-fall-02203?utm_source=newsletter&utm_medium=email&utm_campaign=Money%2BMorning Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 2, 2011 Share Posted June 2, 2011 Does that mean we'll finally get to see Kirstie Allsopp eating a hat? I've been waiting sooo long... maybe she got confused and ate her cat instead Quote Link to comment Share on other sites More sharing options...
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