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Saving For a Space Ship

Why Homebuyers Face A Bond Bombshell

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http://business.guardian.co.uk/story/0,,2105358,00.html

"The housing market is in for a shock as a million people come off cheap fixed rates"

It is not often that bond yields give the ordinary person much to get excited about. But right now is just such an occasion.

Anyone taking out a fixed-rate mortgage in the second half of the year will feel the impact of the recent sharp rise in yields around the world. They hit nine-year highs in Britain last week and five-year highs in the United States.

Along with the Bank of England's series of interest rate rises over the past nine months, this will really put the squeeze on the housing market.

(Apologies if already posted)

Edited by Saving For a Space Ship

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So the housing market may be in for a sharp slowdown. The odds are really stacked against it, and as any first-time buyer might say, about time too.

But I thought rising house prices were good for everybody? ;)

Edit: Oh, I just got it: "Bond bombshell". Is that the best they can do? :rolleyes:

Edited by Selling up

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If the proceeds of a land tax were used to lower income and corporation tax, it might pay Britons more to work or start a company than to own property, which is ultimately an unproductive asset. Food for thought.

Hear, hear!

Incentive is a wonderful thing!

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I thought it was a good article. I have mixed feelings about the sea change that appears to be going on at 'my' paper. While I am glad that their outlook re the housing market and buy-to-let has changed it does feel rather opportunistic rather than stemming from any ideological conviction. I guess I shouldn't be too surprised about that.

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I thought it was a good article. I have mixed feelings about the sea change that appears to be going on at 'my' paper. While I am glad that their outlook re the housing market and buy-to-let has changed it does feel rather opportunistic rather than stemming from any ideological conviction. I guess I shouldn't be too surprised about that.

(not from a "socialist" paper which keeps its junior staff on shortterm contracts then punts them out the door just before they are eligible for full-time employment benefits - told to me by a permie journo/dept. head)

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