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Bear Left

The Martians Are Coming!

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Are We Heading For A Sub-Prime Mortgage Crisis?

Donna Werbner Fool.co.uk says...

in my view, a sub-prime-fuelled housing market crash in the UK is extremely unlikely -- in fact, just about as likely as a Martian invasion.

HaHaHaHahaaaaaaaaaaaaaa

Have a laugh and read how Donna makes everything ok in the world of Sub prime u.k.

http://www.fool.co.uk/news/property-home/m...age-crisis.aspx

There's no doubt that - mainly because of the US sub-prime crisis - sub-prime mortgages are becoming more expensive and sadly, most sub-prime borrowers are going to face payment shock when they come off their current deals. But in the UK, unlike the US, lenders look at whether sub-prime borrowers can afford to pay the final rate (usually the SVR), when deciding whether or not to lend. This is likely to be around 2% higher than the initial, discounted rate. So in theory, sub-prime borrowers should still be able to meet their repayments, even if rates have gone up around 2%.

Having said that, I do think the number of repossessions is likely to rise next year and this will dampen demand in the housing market.

Dampen, but not destroy. Fundamentally, the UK housing market suffers from a huge shortage in the supply of housing - unlike the US, where there is currently an oversupply.

This lack of supply is partly the reason why house prices have risen at an astronomical rate in the past few years. Most sub-prime homeowners have built up a sizeable chunk of equity in their homes, and many can use this equity to get rid of their debt and then cut their monthly outgoings significantly by renting instead.

Has she been away on a long holiday to Mars or on another planet?

Makes me laugh anyway!

:D:D:D

Edited by Bear Left

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The chances of anything coming from mars,

are a million and one,he said.

The chances of anything coming from mars,

are a million to one

BUT STILL,THEY COME :o:o:o:o:o:o

WOW.jpg

post-1056-1192040258_thumb.jpg

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Guest DissipatedYouthIsValuable
The chances of anything coming from mars,

are a million and one,he said.

The chances of anything coming from mars,

are a million to one

BUT STILL,THEY COME :o:o:o:o:o:o

Will they catch a cold?

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I do beleive Allstar Darling uses that psuedonym

Edited by Bloo Loo

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They only come down to Earth because property on Mars has become so unaffordable.

:lol:

Everywhere I looked this morning, I saw little green men.

You probably think I'm crazy. But that's because you're adding two and two together and coming up with aliens and spaceships and hallucinations of intergalactic doom - when, in fact, I am referring to a rather more mundane topic: pedestrian crossings.

No Donna, you're not crazy.

Now because you've explained everything to us in such condescending, one numbered point at a time, easy for the plebs to understand way I feel you are probably an alien sent here to help us continue to profit from the great boon of our lives that is HPI.

We, your loyal subjects, salute you!

:rolleyes::rolleyes::rolleyes:

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I first read Motley Fool around 1999 - as I recall they failed to call the .com revolution a bubble. From my subjective recollection, they even seemed to pump the phenomenon...

While some of the Motley Fool factual information is interesting, I remain to be convinced that their spin isn't toxic.

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