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Mortgage Lending Still Rising

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http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

"Quick - let's get in before mortage rates rise".

Surely this should be:

"Let's not jump in because rising IRs will cause the market to crash from its current all-time peak".

Strange how people's logic works.

Maybe the journo's not offloaded his portfolio yet... needs to keep the market straining at the bit for another month to exchange.

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BOE monetary policy = DEBT, DEBT and more DEBT.

Triclke-up interest rates could have been designed to cause maximum debt and maximum resultant damage.

Weak, pathetic debt-mongering organisation.

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http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

"Quick - let's get in before mortage rates rise".

Surely this should be:

"Let's not jump in because rising IRs will cause the market to crash from its current all-time peak".

Strange how people's logic works.

As far as I can see, many can agree that markets are driven primarily by greed or fear.

Would be agree that greed is predominant in bullish times, and fear in bearish times?

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Mortgage approvals stayed the same as last month, and are 5% down on last year.. that doesn't seem to come through.

Edited by ae589

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As far as I can see, many can agree that markets are driven primarily by greed or fear.

Would be agree that greed is predominant in bullish times, and fear in bearish times?

Not always the case, a lot of people (particulalry the young) have chased the housing market out of fear. They have been told by all and sundry to get on no matter what the cost, the BOE have obliged by setting the monetary scene underneath to provide the upward momentum, endles liquidity and allowing the lenders to recklessly extend their lending criteria - they did it again straight after the 2005 rate drop.

One branch of the housing consumer market has effectively been hered into their current position, a discraceful act by a politically pliant, ignorant, gambling BOE, propping up their so-called "economic growth" by encouraging historically unheard of levels of debt. We are quite a way beyond Japan of the late 80's in that respect, somwthing that would have been unthinkable say a decade ago.

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Maybe the Japanese model is what the BoE are aiming for.

15 years of deflation, yes, but purchasing power destruction, unwillingness to spend and very competitive manufacturing are all plus points. Seems to have been a more stable race to the bottom that anything the 'states are going to go through...

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Maybe the Japanese model is what the BoE are aiming for.

15 years of deflation, yes, but purchasing power destruction, unwillingness to spend and very competitive manufacturing are all plus points. Seems to have been a more stable race to the bottom that anything the 'states are going to go through...

We have hardly any manufacturing left - how much of our output is simply re-badged product made elsewhere?

You can't make a silk purse out of a pigs ear, the damage has and is being done. It will take years to recover even a small proportion of what has been lost and even then it will probably not be viable thanks to the cumulative inflation that has occured already.

If you are in a race to the bottom the last thing you want to do is inflate your costs first, that is a recipe for utter disaster.

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Triclke-up interest rates could have been designed to cause maximum debt and maximum resultant damage.

The financial equivalent to the death by a thousand cuts.

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Mortgage approvals stayed the same as last month, and are 5% down on last year.. that doesn't seem to come through.

The number of people remortgaging dipped slightly, dropping to 102,000 in June from 110,000...

Less mortgages, more money borrowed.. Spin

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