Thursday, July 19, 2007

Landlord, sh*t is about to hit the fan… (1)

CML reports highest mortgage lending on record

"Gross mortgage lending reached a new record of £34.2 billion in June - up from £31.4 billion in May - according to data from the Council of Mortgage Lenders. But the mix of transactions is changing with our expectation being a higher percentage of remortgaging, to minimize potential payment shock, and lower numbers of house purchases as fewer people chose to move"... it is a classic Ponzi scheme, my Lord

Posted by confused76 @ 12:56 PM (514 views)
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3 thoughts on “Landlord, sh*t is about to hit the fan… (1)

  • george monsoon says:

    up .25% in August anyone?

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  • dohousescrashinthewoods says:

    I see a can of woopass on Mervyns desk as he casually handles the tin-opener.

    Blanchflower over his shoulder whispering that such cans can remain uopened for a long time yet without rupturing of their own accord and that there will be no tin-opener-contagion in the kitchen cupboard.

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  • people borrowing to pay off their credit cards due to higher IR’s then….

    Oh dear oh dear…

    Rates at 6.5% by xmas and 7.5% (at least) by May 2008 then.

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