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Uk Soars As Us Teeters On The Brink

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According to this article there is growing worry that many are going to get stung in the UK if the housing market eventually follows the US one downward.

...As noted in our recent article we are concerned that lenders are becoming increasingly lax about lending and affordability. At the moment for many buyers desperate to get into the market there is little concern about repaying debt and more focus on just finding ways to leverage as much debt as possible – a damn the consequences.

The Bank of England needs to very seriously look at the current over priced market sector and find a way of pricking the bubble more rapidly. News of further increases will only encourage more profligate borrowing. All the while the Housing Market in the UK pretends that it, and it alone has found a way of defying reality... [MORE HERE]

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According to this article there is growing worry that many are going to get stung in the UK if the housing market eventually follows the US one downward.

...As noted in our recent article we are concerned that lenders are becoming increasingly lax about lending and affordability. At the moment for many buyers desperate to get into the market there is little concern about repaying debt and more focus on just finding ways to leverage as much debt as possible – a damn the consequences.

The Bank of England needs to very seriously look at the current over priced market sector and find a way of pricking the bubble more rapidly. News of further increases will only encourage more profligate borrowing. All the while the Housing Market in the UK pretends that it, and it alone has found a way of defying reality... [MORE HERE]

very very true. 'It alone' meaning in the history of finance and economics this is the only boom EVER that has not bust... yet. And if it doesn't bust will be the first boom not gone bust in history ever GB will become a financial hero..

Or will it all fall apart and be revealed as the quick fix massage whic prolongued the long term medicine which was required? Willl GB be alike to Alan Greenspan who is now being seen for the idiotic policies he made in the states now, when 2 years ago he was a god?

Time will tell.

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Making banks not so lax would be a good idea to start with.

Northern Rock has offered a friend of mine a mortgage - he was bankrupt 3 years ago and they have offered him 5 times his salary.

Okay I agree with people getting a 2nd chance, but this is just asking for trouble.

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Northern Rock has offered a friend of mine a mortgage - he was bankrupt 3 years ago and they have offered him 5 times his salary.

Okay I agree with people getting a 2nd chance, but this is just asking for trouble.

That bank wont last long.

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That bank wont last long.

sounds like a good safe sound bank to me . Northern Grit, hard and rocky.

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That bank wont last long.

Class :lol::lol::lol:

Well spotted, took a while to realise it was a thread from 2006.

Edited by tinker

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A printout of this post is one of those things journalists should have to hand when Gordon, Darling et al say the mantra "no one could have foreseen it".

Ha!! Well said Durch!

Norhtern Rock [Rock!! Rock my @rse!!]

aka

Northern Crock O' Shit

Purveyors of LIAR LOANS

and now no longer........... or just the first of a long line of government [uK tax payer] owned banks..........

Edited by eric pebble

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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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