Wednesday, Nov 29, 2006

The sheeple are still buying...

BBC: Mortgage market continues to boom

Mortgage lending and mortgage approvals in the UK are running at their highest level since 2003, the Bank of England has said. Both the number of new mortgages approved for house buying and the amount of money lent on new mortgages roseto 3 year peaks in October. The figures will add weight to the view that the housing market is growing.

Posted by little professor @ 11:05 AM (445 views)
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1. David20040_0 said...

Er yeah obviously, with high immigration, lack of housing and a boom going on of course.

Wednesday, November 29, 2006 11:15AM Report Comment

2. inflation is eating my savings said...

The sheeple will not stop buying. Everyone who has a house implies to you that you have to buy soon otherwise you'll get left behind and that you are stupid not to. It takes a very brave person to stand back from this. One feels guilty expressing negative sentiment of any kind of on their assumptions (or are made to feel like someone who talks about politics at a polite dinner party). The contrarian is a crazy wierdo who must be silenced.

It is a very similar issue to politics or religion in some ways. Speaking to homeowners of my own age (32) is akin to speaking about Israel to even a moderate or left wing Jewish person. Or speaking about immigrants to a taxi driver. One has to be so very careful (and undogmatic) even to register with people that their view may not watertight. Even intelligent people will haul up the dooors of self delusion- its far easier that doubting your decision to buy. I think we should encourage people to buy- the end will come more quickly if we do.

Wednesday, November 29, 2006 12:06PM Report Comment

3. paul said...


I've just turned 34 and don't bother challenging people's views any more. I do stash away a four figure sum into my ICESAVE account every month though.

Wednesday, November 29, 2006 12:19PM Report Comment

4. Sam said...

Me to Paul. last three people I talked to overpriced properties about all went ahead and bought anyway.

Am starting to feel like the guy who walks around with a "the end is nigh" sandwich board. These days I just suggest they don't overstretch themselves.

you can take a horse to this website, but you can't force it to read.

Wednesday, November 29, 2006 02:13PM Report Comment

5. Nohpc said...

That's great paul. I hope you enjoy paying 40% tax on your savings going into your ICE save account. Really intelligent way to save your money!!

Thursday, November 30, 2006 03:14AM Report Comment

6. Nohpc said...

sorry meant to say tax on the interest you make on your savings

Thursday, November 30, 2006 08:49AM Report Comment

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