Saturday, August 11, 2007
Reminder of what was clear as day in Feb 2007
Prepare for the failure of HBOS & similar
It is interesting to re-read back what we thought in February. Interest rates will now have to go up since we just "printed" another half a trillion of currency worldwide.
Posted by lvmreader @ 01:59 PM (425 views)
One thought on “Reminder of what was clear as day in Feb 2007”
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Crash Bandicoot says:
How stupid does all of that stuff look now. 125% loans – houses only go up in value don’t they?
40 year mortgages – it’s a new paradigm.
Shared equity – buy with a stranger – let someone else default on your mortgage.
10x mortgages – it is for a high earner – let’s hope he’s not relying on this year’s bonus.
Self cert – why do you need it if you can AFFORD your mortgage.
Let’s get back to 3x the average salary buys an average house. With the state of the market at the moment that will be a new paradigm.