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How Estate Agents And Lenders Try To Spin The Economy

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Well worth reading ..........

Trying to spin doctor the economy doesn't work

01.09.2006

by John Stepek

Property pundits in the UK seem a little more sophisticated than in the US. In the States, everyone from house builders to estate agents are, frankly, panicking. There’s no pretence of everything being OK - there’s talk of the worst slump in decades, markets in freefall - it’s bad out there and they know it.

But here in the UK, the pundits know how to play it. When the Bank of England raised interest rates, the tone of housing reports changed suddenly from declaring the return of the ‘mini-boom’, to warning of a slowdown and declarations that “no further rate hikes are needed.”

The trouble is, their attempts to massage reality are in vain. Here’s why…......

<snip>

........... Deathbed mortgages, “good investments” that cost you £100 a month to subsidise someone else’s living costs - property investors have lost their grip on reality. But with interest rates rising, unemployment rising and the world’s biggest economy heading for a massive slump, reality is about to bite back hard.

And all the spin in the world won’t make a bit of difference.

MoneyWeek

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Guest mattsta1964

Well worth reading ..........

<snip>

MoneyWeek

Just read it. The last couple of days I was thinking the bust might not come for a few more months. Now I reckon the US is in SERIOUS trouble. The news is becoming more and more bearish every week. This could get very very painful next year. Only another 85K to go on my mortgage. OUCH! :(

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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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