Sunday, June 3, 2007

Borrower’s running out of time

Debt alert over rising cost of mortgages

Another nail in coffin.

Posted by speculatorone @ 08:35 AM (364 views)
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5 thoughts on “Borrower’s running out of time

  • Vince Cable, the Liberal Democrat Treasury spokesman, said the government should have stepped in to control lending by banks and building societies. ‘One of the factors that has substantially increased effective demand for housing has been the easy availability of credit, which is way beyond traditional measures of prudent lending.’

    Where is the demand, where is the supply, the immigrants and the divorces… where are Paolo and Glorious Sunshine with their phoney market fundamentals….?

    Reply
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  • There is only one fundamental regarding the UK’s HPI: cheap credit. The government and BoE knew what they were doing all along; it was a deliberate policy to create a wave of feel-good at the expense of prudence. It has little to do with immigration, or anything else.

    Oh, and the artice? Bleat, bleat…

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  • Oh dear, oh dear oh dear or dear…

    167% of GDP in debt (and presumably in view of the commemnts in the FT about the 40 year loan, still rising?). Does anybody know what percentage of the average income (of only £22k of course) is going in servicing it? Does it follow that as APR is anything up to 30%, it could be say 10 – 20% (i.e. say a very conservative 16.7% of GDP). Does this mean that the economy can only grow at 80% – 90% of potential?

    I am no economist but would be interested to know.

    Reply
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  • Well said Harold.

    There have been too many people peddling these myths of supply and demand. Evan Davies has seen through it, but David Smith certainly hasn’t.

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  • The crash will happen if these idots see through it or not. I don’t care if rates do not rise this month, time is on my/our side. Just sit it out, watch the rates rise, the bullshit get more desperate, and the prices drop.

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