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Todays Daily Express Front Page

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In my experience Daily Express reader believe everything their paper tells them so we should hear the sound of house prices crashing before too long :)

Edited by Tuffers

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The average man in the steet, will think it madness because with house prices so high

how can they possibly consider putting up interest rates ehh.

Little do they know the the BoE do not give a stuff if you cant pay your mortgage.

As Mervyn King once said " I have met the average man the street, and he's a ****"

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Funny how you can click on and read all the other top or breaking news stories on the website, but the one story taking up the whole front page you cannot read!!!!

Ha ha, I can feel another letter to the editor coming on.

Edited by north/south divide

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The average man in the steet, will think it madness because with house prices so high

how can they possibly consider putting up interest rates ehh.

Little do they know the the BoE do not give a stuff if you cant pay your mortgage.

As Mervyn King once said " I have met the average man the street, and he's a ****"

Did he really call him that ? Or did he say " He has no chance of getting in front "

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Just passed news agent, todays Express headline huge bold type whole page

MADNESS: Loan Rate to Rise Again

Basically disbelief that Mervyn has suggested rates will rise again very shortly

He he he! :lol:

"Loan" rates eh?

sign 'o the times I suppose :rolleyes:

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Anyone any idea what was in the article? <_<

Yes I read it. They were bashing the government on university fees and council tax rises which had casued the uplift in inflation. They thought it was unfair to punish the already overstretched consumer with higher interest rates for inflation casued by the government and not the consumer. They didn't really link it to future HPI

Can't work out their logic though; if they are trying to keep promtiong further HPI this headline kind of shoots them in the foot. Maybe their just like other tabloids; they couldn't care less they just want a headline that will get their readers ranting

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Can't work out their logic though

Why? The goal of a newspaper is to sell newspapers: so long as the story sells papers, what it says doesn't matter.

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I knew I wouldn't have been the only person to have been amused by this :) I must admit to letting out an audible chuckle when I saw the headline in the shop.

Interest rates going up? The very idea! People will be saying house prices could go down next! :ph34r:

I really despair of the people who read garbage like the Express/Mail. Why do they put up with being manipulated like this? Or do they just not have the brain cells to come up with their own opinions about the world?

Anyway, I'm sure the paper will be equally level headed about this Heathrow nonsense in tomorrow's paper.

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You have to laugh. Sounds to me like they're having a hissy fit because they've been telling everyone prices are going to keep booming. Those that borrowed too much have only themselves to blame.

Edited by simon99

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LexisNexis had the report - I've cut chunks out as I don't really want to infringe the copyright:-

Gotta love all the cliches - "bombshell", "double whammy" etc etc

Bloomin' rag <_<

"FAMILIES were hit by a mortgage bombshell last night.

The Bank of England governor Mervyn King warned that interest rates are likely to rise again within months.

He forecast that inflation could soar in the next six months, making the rate hike inevitable.

The loans madness would bring real financial hardship to millions of home owners already struggling under the burden of scores of stealth taxes introduced by Labour.

The Bank blamed the introduction of controversial university tuition fees and soaring fuel bills for rising inflation.

The Government's critics said that meant families will be forced to endure the pain of higher mortgages and bigger interest payments on debts through no fault of their own.

They claimed that unlike previous inflation rises, the latest warnings were not prompted by consumer over-spending but by Labour policy and a global energy crisis.

Economist John Wrigglesworth said: "If the rate of inflation is down to factors outside the control of ordinary households then why should they be punished through higher mortgage repayments?" Liberal Democrat Shadow Education Secretary Sarah Teather said families were being hit with a "double whammy" thanks to Labour measures.

Peter Bolton King, of the National Association of Estate Agents, said another interest rate rise before the end of the year would hit consumer confidence and slow the property market.

"As interest rates are still at low levels compared with past averages, we can absorb this latest 0.25 per cent rise, " he said.

"However another hike would take us to five per cent and that would adversely affect buyers and sellers alike."

Robert Barrie, chief European economist at investment firm Credit Suisse, warned home owners to brace themselves for further rises in their mortgage payments. "You don't raise interest rates once until and unless you are prepared to raise them more than once, " he said.

Mr King said in his report there was a 50-50 chance that inflation - which hit 2.5 per cent in June - would rise above three per cent within the next six months.

HSBC analyst John Butler said the message from the Bank was simple.

"It is a clear steer that it believes that if the economy develops as it expects, interest rates will rise again in the coming months, " he said. The economy would have to soften markedly in coming weeks to prevent a rate hike, he added.

"On the back of this report we now predict UK interest rates to rise to five per cent in November.

However, Simon Wallace, of the Centre for Economics and Business Research, said in the medium and long run "another interest rate rise may be going a step too far"."

Edited by gasket37

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Haven't heard much from "the wriggler" recently!

Economist John Wrigglesworth said: "If the rate of inflation is down to factors outside the control of ordinary households then why should they be punished through higher mortgage repayments?"

Indeed, why not just lower rates and punish them through hyperinflation instead? :blink:

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Haven't heard much from "the wriggler" recently!

Indeed, why not just lower rates and punish them through hyperinflation instead? :blink:

And punish responsible savers too!

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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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