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Mapatasy

Houseton, we have a problem

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http://www.telegraph.co.uk/business/2017/04/24/ultra-low-mortgage-rates-continue-amid-weak-housing-market-fearful/

"The backdrop is a deteriorating housing market with fewer transactions and low expectations of lending growth. And with more borrowers choosing longer-term fixed rates, there is also a shrinking remortgage market."

“Where you have total lending showing no growth and new competition entering the market, lenders don’t want to relax their criteria so that leaves only one option: cutting the price.”

 

https://www.theguardian.com/commentisfree/2017/apr/24/ultra-low-mortgage-rates-bubble-interest-house-prices

"But there’s another, more sinister, reading of the recent rash of ultra-low mortgage rates: it suggests we may be in the latter stages of a bubble. As prices rise further and further out of reach, lenders need to find more and more ingenious tricks to keep rich people pumping their cash into an overheated market. The punch bowl has to keep going round, or the party stops."

 

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The punch bowl has to keep going round, or the party stops."

How many punch bowls is that now.  The British economy is totally punch drunk with it all.

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1 hour ago, Mapatasy said:

http://www.telegraph.co.uk/business/2017/04/24/ultra-low-mortgage-rates-continue-amid-weak-housing-market-fearful/

"The backdrop is a deteriorating housing market with fewer transactions and low expectations of lending growth. And with more borrowers choosing longer-term fixed rates, there is also a shrinking remortgage market."

“Where you have total lending showing no growth and new competition entering the market, lenders don’t want to relax their criteria so that leaves only one option: cutting the price.”

 

https://www.theguardian.com/commentisfree/2017/apr/24/ultra-low-mortgage-rates-bubble-interest-house-prices

"But there’s another, more sinister, reading of the recent rash of ultra-low mortgage rates: it suggests we may be in the latter stages of a bubble. As prices rise further and further out of reach, lenders need to find more and more ingenious tricks to keep rich people pumping their cash into an overheated market. The punch bowl has to keep going round, or the party stops."

 

"it suggests we may be in the latter stages of a bubble" https://www.theguardian.com/commentisfree/2017/apr/24/ultra-low-mortgage-rates-bubble-interest-house-prices  ????????????????

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Just now, hayder said:

perhaps time for negative savings rates to squeeze out the last few pounds? 

Perhaps time to get our your saw, sharpen your blade and polish up your wood working skills more like :P:P

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https://www.theguardian.com/commentisfree/2017/apr/24/ultra-low-mortgage-rates-bubble-interest-house-prices

"But there’s another, more sinister, reading of the recent rash of ultra-low mortgage rates: it suggests we may be in the latter stages of a bubble.

 

 

A bit late in recognising the bubble but there's another even more sinister possibility that they along with their political, central banking and media cronies are doing their level best and are hell bent to completely wreck the British economy some more and to such an extent that it's not ever recoverable.

Edited by billybong

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27 minutes ago, TheCountOfNowhere said:

If anything is going to change sentiment it's articles like these feeding through into the minds of the public - statements in the media broadly in line with "we may be in the latter stages of a bubble" are popping up everywhere and are picking up momentum... as you've said before Count - "Who's going to catch a falling knife?"

 

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1 minute ago, Mapatasy said:

If anything is going to change sentiment it's articles like these feeding through into the minds of the public - statements in the media broadly in line with "we may be in the latter stages of a bubble" are popping up everywhere and are picking up momentum... as you've said before Count - "Who's going to catch a falling knife?"

 

Everything lives and dies by sentiment. What ever needed to be rescued in 2008 has been accomplished. 

buysell.jpg

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6 minutes ago, Mapatasy said:

If anything is going to change sentiment it's articles like these feeding through into the minds of the public - statements in the media broadly in line with "we may be in the latter stages of a bubble" are popping up everywhere and are picking up momentum... as you've said before Count - "Who's going to catch a falling knife?"

 

Plenty did in 2008 and oh, look how they've profited, they've all moved out of London and mortgaged up to the hilt and bought a 5 bed house in Northants that is worth about 70% less in line with local wages,

Catch that knife, go on, I dare you.

The last 10 years have been fascinating and have left me totally exhausted and bewildered by the sheer desperation/stupidity/selfishness of society, people, leaders, bankers.  Lets hope this is it and they finally let it collapse.  I suspect that is there plan now, they'll have 5 years to turn it around, they'll blame Carney and Brexit, maybe even Osborne, the queens cous will be okay tho.

Difficult times ahead for the UK regardless though.

Buying/Owning a house is not the panacea it's pushed as.

I've enjoyed renting much more than owning.  Our new windows look lovely and we've got an eye on a new boiler this winter...all funded by SOI ( some other idiot ).

Sure, we didnt buy houses and become potentially wealthy ( on paper ) but right now nor as we sitting s**ting ourselves wonder why you bought a £700K 4 bedder in Northampton.  

 

C'est la vie

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7 minutes ago, maverick73 said:

Everything lives and dies by sentiment. What ever needed to be rescued in 2008 has been accomplished. 

buysell.jpg

I thnk BrExit was a bit of a shock to the establishment.

They must monitor websites etc and must surely know how angry people are.

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