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Confidence In Housing Market Falls To 6 Year Low - B B C News

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BBC News business section are doing a piece about how fears of interest rate rises has driven confidence in the housing market to a six year low.

In March 40% thought that it was a good time to buy.

In June 29% think that it is a good time to buy.

60% of consumers worry about raising a deposit.

50% worry about monthly mortgage repayments.

They say that sentiment in the housing market has changed completely over the last few months.

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BBC News business section are doing a piece about how fears of interest rate rises has driven confidence in the housing market to a six year low.

In March 40% thought that it was a good time to buy.

In June 29% think that it is a good time to buy.

60% of consumers worry about raising a deposit.

50% worry about monthly mortgage repayments.

They say that sentiment in the housing market has changed completely over the last few months.

And 99% think the solution is to make credit more easily available and keep interest rates low.

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BBC News business section are doing a piece about how fears of interest rate rises has driven confidence in the housing market to a six year low.

In March 40% thought that it was a good time to buy.

In June 29% think that it is a good time to buy.

60% of consumers worry about raising a deposit.

50% worry about monthly mortgage repayments.

They say that sentiment in the housing market has changed completely over the last few months.

Exactly what some of us have been saying on here.

Osborne's pre-election bubble has burst. I think he under-estimated how greedy and stupid the sheeple anmd the bankers actually are.

The BIG question is...will he bring in another mad scheme to try and get his bubble going again for the election.

He's probably not go enough time now....and the truth is out.

Hopefully he's made things so bad house prices collapse and stay low for....ever.

P.S.....A six yera low...so pretty much since the banks collapsed. ( the first time ).

Edited by TheCountOfNowhere

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The words been out there for 12 months. I wrote to them to bring their attention to the first signs of the mega bubble and was told there was no house price bubble as volumes were low.

To say they wont hesitate seems to me somehow wrong when they've been hesitating for a year.

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It is awe inspiring how stupid the public can be. To index your finance on EMERGENCY IR's beggars belief, it is not the norm, and has never been. The receivers of this misery deserve every last drop and the Crash will be "worse" because of their short sightedness, either by putting the telescope to the wrong eye or by being bitten on the bottom.

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It is awe inspiring how stupid the public can be. To index your finance on EMERGENCY IR's beggars belief, it is not the norm, and has never been. The receivers of this misery deserve every last drop and the Crash will be "worse" because of their short sightedness, either by putting the telescope to the wrong eye or by being bitten on the bottom.

The crash would have been done and dusted by now if the government hadn't been so short sighted, they've gone and made it much worse though.

The question is.....will the banks survive the 2nd nominal collapse ?

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The words been out there for 12 months. I wrote to them to bring their attention to the first signs of the mega bubble and was told there was no house price bubble as volumes were low.

To say they wont hesitate seems to me somehow wrong when they've been hesitating for a year.

I'm sorry that your letter to the BoE didn't have the desired effect on monetary policy.

I was merely highlighting the title of the piece and the potential effect on consumers.

There's another one here

http://www.dailymail.co.uk/money/mortgageshome/article-2660475/Faultless-borrowers-locked-best-mortgages.html

'Faultless borrowers locked out of the best mortgages amid stricter rules as lenders pull the plug on cheap home loans'

Edited by Sancho Panza

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I'm sorry that your letter to the BoE didn't have the desired effect on monetary policy.

I was merely highlighting the title of the piece and the potential effect on consumers.

There's another one here

http://www.dailymail.co.uk/money/mortgageshome/article-2660475/Faultless-borrowers-locked-best-mortgages.html

'Faultless borrowers locked out of the best mortgages amid stricter rules as lenders pull the plug on cheap home loans'

I never expected it to, would you ?

It's pretty obvious what the BoE and the British government are about so I just wanted to see what they would say when confronted with facts....and I got the expected response....i.e. denial, stonewalling, the party line.

When TSHTF I'll be sending my communications off to the news papers so see what they make of them.

Edited by TheCountOfNowhere

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MSM spreads property optimism across the country for a couple of months;

Population: "We're all confident!"

MSM spreads property doom and gloom across the country for a couple of months;

Population: "We're not confident!"

Is this surprising to anyone?

Edited by Reck B

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I don't know what game the establishment are playing, it's sort of the say/do but inverted!

They are saying they won't hesitate to cool the non-existant housing bubble (new bubble). They shouldn't be hesitating on cooling the old bubble (e.g. rates up, no (more) QE, cut all the daft schemes). They seem to be using their tools/threats of we won't let it happen to hope it happens!

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The use of the word 'faultless' there is very telling... Not very subtle is it?! :rolleyes:

Indeed, it should have read 'feckless'!

Do these clowns really think that these lenders are now being forced to refuse mortgages that they would have previously been happy to approve? They were never happy IMO, it's just that they would have lost too much market share to less risk adverse lenders. They are now relishing the opportunity to clear their books of risky debtors, safe in the knowledge that some greater fool isn't going to be taking the business away from them. And no, they don't have any obligation to customers that haven't missed any payments, moral or otherwise.

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The question is.....will the banks survive the 2nd nominal collapse ?

They've had 5 years to recapitalize, perhaps now their cushion is in place and that is why we hear about the bubble now all of a sudden.

There looks to be recent orchestrated attempt to affect public sentiment.

I believe the government have been aware of the problems all along, and know they need to allow a correction. Their ducks are now in a row, and if you think about it, the timing might be quite smart in relation to the election.

When the cost of borrowing rises the effects of a small rise will take a while to feed through and will be minimal. Hence a small rise. It is however an indication of the direction of travel, and a rise now helps more people than it hinders. I can't imagine a sane person voting for labour in the election once the conservatives hand is shown. Don't forget who presided over this mess for 10 diabolical years of financial vandalism in the first place.

Edited by cybernoid

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It is awe inspiring how stupid the public can be. To index your finance on EMERGENCY IR's beggars belief, it is not the norm, and has never been. The receivers of this misery deserve every last drop and the Crash will be "worse" because of their short sightedness, either by putting the telescope to the wrong eye or by being bitten on the bottom.

To be fair this indexing has been endorsed by HM Government via the Help to Buy scheme. So borrowers will be able to claim quite accurately that the Prime Minister and his Chancellor encouraged them in their folly.

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If you are suggesting that the great unwashed can be led by a pair of puppy drowning, dwarf, lesbian, storm trooping, lying, Chuckle Brothers, they are even more stupid than I thought. A more thick and devious pair could only be challenged by Shapps and Nicky, with Vince on the subs bench.

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I don't know what game the establishment are playing, it's sort of the say/do but inverted!

They are saying they won't hesitate to cool the non-existant housing bubble (new bubble). They shouldn't be hesitating on cooling the old bubble (e.g. rates up, no (more) QE, cut all the daft schemes). They seem to be using their tools/threats of we won't let it happen to hope it happens!

The very fact that they're even mentioning these once-taboo words is good, it'll all help to rattle the masses a little. Sentiment feels like it's changing a little at last. I still don't hold out much hope that there won't be some godawful disastrous scheme to keep things bad though.

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I believe the government have been aware of the problems all along, and know they need to allow a correction. Their ducks are now in a row, and if you think about it, the timing might be quite smart in relation to the election.

I've been wondering the same thing. They're probably too scared of UKIP for it to be true perhaps. I think maybe things just got way out of hand quicker than everyone expected , and that would explain the actors' various manoeuvring over the last few months. Obviously they can't admit it in public but down here (SE/London) everyone has a tale of a house going for 30/40% more than a year ago, this won't be lost on them and is obviously going to pop.

They are slightly at an advantage cos the atmosphere around this latest boom has been different, the general public seem pretty jaded with HPI I think. Maybe the boomers will be largely philosophical if 40% gets taken off something they've made hundreds of percent on over the years? If it means their kids can get a house ? The foreign investors in London are no political concern either.

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I think maybe things just got way out of hand quicker than everyone expected , and that would explain the actors' various manoeuvring over the last few months.

i think the bubble was going according to plan but they miscalculated london

take out london and the bubble would have been ripe just after the next election

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