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TheCountOfNowhere

Interest Rate Rises Are Some Way Off...

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http://www.bbc.co.uk/news/business-25857337

"

Rate rise some way off, says Bank of England director"

If you ask me and this is just my opinion....it seems to me we might well have a problem in this country with ( and as eric might say ):

LIAR LENDERS.

Can the BoE be trusted on anything? inflation target...ignore that in favour of banks and borrowers....obvious housing bubble...refuse to acknowledhe any bubble...set target for raising rates based on emplyment instead of inflation.....ignore that too. Are the lying or stupid ? Or do they think the rest of us are ?

The government need to take the BoE powers away from them there is too much scope for them helping the bankers rather than the people.

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"Rate rise some way off, says Bank of England director"

Sometime around May 2015, perhaps?.. :rolleyes:

"Vote Labour in 2015 to put the cat firmly amongst the pigeons" says disillusioned, cynical, HPC poster.

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"Vote Labour in 2015 to put the cat firmly amongst the pigeons" says disillusioned, cynical, HPC poster.

Leave the country and tell them to **** right off says angry HPC poster.

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I think we all have to come to terms with the fact we are not going to get nominal house price crash.

The are instead going to get a collapse in the pound and a whole lot of heartache.

There are past the point of no return if you ask me.

Sterling crisis.

I guess the question is how we prepare ourselves for this ?

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I'll vote for anything that stops our government rigging low IRs in perpetuity.

It will only change when the power to control these things is taken from them.

Doesnt matter what colour the rosette is.

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I think we all have to come to terms with the fact we are not going to get nominal house price crash.

The are instead going to get a collapse in the pound and a whole lot of heartache.

There are past the point of no return if you ask me.

Sterling crisis.

I guess the question is how we prepare ourselves for this ?

Disagree. Bank is likely right for a change: Japan

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The government need to take the BoE powers away from them there is too much scope for them helping the bankers rather than the people.

Eh? The government are the bankers.

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I think we all have to come to terms with the fact we are not going to get nominal house price crash.

The are instead going to get a collapse in the pound and a whole lot of heartache.

There are past the point of no return if you ask me.

Sterling crisis.

I guess the question is how we prepare ourselves for this ?

Buy a house in April '09.

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The Government will scale back Help to Buy before letting the BoE touch interest rates.

On the page: https://www.gov.uk/affordable-home-ownership-schemes/overview

Elsewhere - there seems something so wrong with this sentence!

You may be able to get financial help through a Help to Buy home ownership scheme if you live in England and can’t afford to buy a home. :unsure:

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The Government will scale back Help to Buy before letting the BoE touch interest rates.

On the page: https://www.gov.uk/a...chemes/overview

Elsewhere - there seems something so wrong with this sentence!

You may be able to get financial help through a Help to Buy home ownership scheme if you live in England and can't afford to buy a home. :unsure:

If you stand back and read that and think about it...there is so much wrong with that.

It's not a scheme...it's a scam !!!

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I think we all have to come to terms with the fact we are not going to get nominal house price crash.

The are instead going to get a collapse in the pound and a whole lot of heartache.

There are past the point of no return if you ask me.

Sterling crisis.

I guess the question is how we prepare ourselves for this ?

we have been between a rock and a hard place since 2000, probably before.

In other words, the hard place just got closer.

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I think we all have to come to terms with the fact we are not going to get nominal house price crash.

The are instead going to get a collapse in the pound and a whole lot of heartache.

There are past the point of no return if you ask me.

Sterling crisis.

I guess the question is how we prepare ourselves for this ?

This has been my view for some time now. We are past the point of no return. This site was set up on the assumption that previous economic rules would prevail and lead inevitably to a nominal crash - but now the entire economy has been rigged to ensure this does not happen. It's an entirely new game.

That said, HPC is still one of the best places to learn about the best ways to cope with the system.

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This has been my view for some time now. We are past the point of no return. This site was set up on the assumption that previous economic rules would prevail and lead inevitably to a nominal crash - but now the entire economy has been rigged to ensure this does not happen. It's an entirely new game.

That said, HPC is still one of the best places to learn about the best ways to cope with the system.

reality will always prevail.

Whether the mucking about is any better than leaving it alone is up for debate, but when the cupboard of reality is bare, it really is bare, whatever you stick on the door saying its full.

The trick is keeping the door shut.

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When staunch bears are turning you know something is very very wrong.

Went to see the estate agent yesterday just to get a better finger on the pulse. I live in SE London / Kent. He said people are offering over asking price. e.g. property on for 300, people offering 350k. and he has to tell them to reduce to £320k because the valuation will be out. But the buyers don't seem to care.

He said a lot of buyers are either central London people moving out, or young 30-35 year old couples buying their first homes.

He said they geared up for Help To Buy when it started - shop window full of adverts etc, but hasn't had a single house bought through HTB. So they will deny that HTB has itself increased demand, because no one is actually using it. But it was definitely the catalyst for this in my opinion.

Also people coming in as cash buyers £350k to spend buying up houses to rent out.

Seeing at least £30k a month increases in asking prices. He said he didn't see a bubble, just that the area was undervalued and was now coming 'in line' with the rest of London. These are houses that are good family homes (3 bed with room to extend etc). Last year selling for 250k, now being bought for £350k, many of which need complete refurbs.

I am compelled to feel panicked by it all. But isn't that the sign of a bubble - people tripping over themselves to buy, whatever the price? £100k increase in a year is 8 years worth of rent. So it's a case now of buying, or planning to rent for at least a few more years until the election is over.

The only thing left before the election is April's budget. If nothing is done in that, then it's game over until after the election.

Completely disgusted by it all to be honest.

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Inflation was never going to go that high without wage inflation. I don't think IR will go up until we see wage rises gettting out side the BofE comfort zone. If unemployment keeps going down there should be a point where labour has some pricing power. This may take some time.

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reality will always prevail.

Whether the mucking about is any better than leaving it alone is up for debate, but when the cupboard of reality is bare, it really is bare, whatever you stick on the door saying its full.

The trick is keeping the door shut.

Nice.

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Things are past the point of no return if you ask me.

They have been for a long time. The 'system' effectively died in 2007/08. They have kept it going in a zombie state thus far.

When the crash happens now it will be total, and take everything out with it.

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When staunch bears are turning you know something is very very wrong.

Went to see the estate agent yesterday just to get a better finger on the pulse. I live in SE London / Kent. He said people are offering over asking price. e.g. property on for 300, people offering 350k. and he has to tell them to reduce to £320k because the valuation will be out. But the buyers don't seem to care.

He said a lot of buyers are either central London people moving out, or young 30-35 year old couples buying their first homes.

He said they geared up for Help To Buy when it started - shop window full of adverts etc, but hasn't had a single house bought through HTB. So they will deny that HTB has itself increased demand, because no one is actually using it. But it was definitely the catalyst for this in my opinion.

Also people coming in as cash buyers £350k to spend buying up houses to rent out.

Seeing at least £30k a month increases in asking prices. He said he didn't see a bubble, just that the area was undervalued and was now coming 'in line' with the rest of London. These are houses that are good family homes (3 bed with room to extend etc). Last year selling for 250k, now being bought for £350k, many of which need complete refurbs.

I am compelled to feel panicked by it all. But isn't that the sign of a bubble - people tripping over themselves to buy, whatever the price? £100k increase in a year is 8 years worth of rent. So it's a case now of buying, or planning to rent for at least a few more years until the election is over.

The only thing left before the election is April's budget. If nothing is done in that, then it's game over until after the election.

Completely disgusted by it all to be honest.

He is an estate agent he will always talk the market up regardless of reality.30k increases MoM? Doesn't see a bubble? Nobody using Htb in Kent? He's spinning a yarn IMO.

I concede that yes there is a bubble based on London, which is pushing up prices right through the shires, and London money is capable but local couples in their late 20s mid 30s offering tens of thousands over asking seems fanciful.

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