Saturday, June 10, 2006

FTB’s need interest rate rises

First time buyers need interest rate hikes not stability

Surely a rise of perhaps 0.5% would have far more benefit to first time buyers? A consequential drop of prices by 20% would save far more money in the long term than rate stability?

Posted by Converted Lurker @ 08:49 AM (579 views)
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2 thoughts on “FTB’s need interest rate rises

  • The BofE’s Kate Barker says she doesn’t think a rate hike will affect the housing market. This shows 2 things:

    1. The MPC is very mindful of the effect of a rate increase on the housing market (effectively admitting that the housing market tail is wagging the interest rate dog)
    2. She is shortsighted enough to believe that the market is being driven by demand, not opportunist speculation based on cheap money.

    The MPC should be sacked. They are incompetents.

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