Sunday, August 6, 2006

Time to get biblical: the day of debt reckoning is nigh

Time to get biblical: the day of debt reckoning is nigh

For now, housing market demand exceeds supply. Prices are rising by 8 per cent annually. Whether the market can withstand a further interest rate hike is a tight call.

Posted by rod, jane and freddy @ 02:23 AM (517 views)
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4 thoughts on “Time to get biblical: the day of debt reckoning is nigh

  • The Bald Man says:

    Gordans legacy is a lage civil service, wasted public spending, bankrupt pension schemes and debt for the future. By the way why do these commentators insist demand is out exceeding supply. Why are so many house unsold?

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  • “For now, housing market demand exceeds supply. Prices are rising by 8 per cent annually. Whether the market can withstand a further interest rate hike is a tight call.”

    Supply exceeds demand in many sectors, particularly new build 1- 2-bedroom flats. Rising 8% anually? Only by deft statistical reasoning.

    The question now isn’t “Can the market withstand another rate hike?” it’s “Can the market withstand a rate hike?”.

    There’s veiled optimism in the article that the housing market can pull through but then there’s no logic put forward to support it.

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  • Such_short_memories says:

    I don’t subscribe to this bandying about of the term ‘hike’ in the way the media does. In my opinion what we witnessed on Thursday by the BOE was more a rate ‘increase’ rather than a ‘hike’. The definition of true hike should be an upward movement of much greater magnitude than the 0.25% ‘nibbles’ we see. What happened on Black Wednesday in 1992, now that was a true hike.

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