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Guest muttley

Telegraph Poll (geddit?)

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Have you seen the letters page too?

Sir - The housing "market" is nothing of the sort - it's a pyramid scheme. As with all pyramid schemes the main beneficiaries are existing members - it's the first-time buyers who lose out.

A combination of low interest rates and loss of confidence in other forms of investment, eg pensions, is fuelling this bubble. Since estate agents take a percentage of your selling price, it is in their interests to keep the bubble rising.

Asset price inflation at these rates can be sustained only for so long. In the end, we will have to take out 100-year mortgages.

Watch out when the bubble bursts.

Greg Slaughter, St Annes, Lancs

http://www.telegraph.co.uk/opinion/main.jh...2301.xml#head12

:D

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The Telegraph has been consistent recently in predicting that the next move in interest rates will be downwards. This is from today's "Business Comment": -

Nickell's solo push for a rate cut may be a parade by Easter

Stephen Nickell must be a lonely man. For the third month in a row he has failed to persuade a single other member of the monetary policy committee to back his call for a quarter-point cut in interest rates.

Kate Barker, who was worried the economy lacked the "oomph" to meet the Bank's inflation target at the end of January, had changed her mind a week later.

She was not the only one on the horns of a dilemma. Despite the fear that debt worries would prompt us to relearn the lost art of saving and snuff out the guttering flame of consumer confidence, an unexpected bounce in the housing market was enough to spook the rate setters into another month of inaction.

If the house-hunters don't come out with the daffodils, Nickell may find he's not so friendless come Easter.

I am new here, but I don't think we necessarily share Mr Nickell's views on this site, do we?

C_J

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  • 301 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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