Monday, June 30, 2008

BTL is UK’s subprime


All bubbles eventyually burst and when they burst there is lot of pain Highest debt consumer debt level in western world 30% fall on aution prices IMF says UK market is 30% over valued FTB buying now will be in negative equity High home ownership 80%. All counteries having high home ownership is having high falls 3rd most overvalued housing stock after Ireland and Netherlands Debt binge in the last 20 years. and we will pay for next 10-20 years BTL is UK's subprime. City centre and holiday homes loosing values fastest Cheap credit is over. No more 100% mortgages Higher interest rate and more deposit. Million people paid mortgage on credit card Etc. Etc

Posted by deepak @ 09:17 PM (923 views)
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2 thoughts on “BTL is UK’s subprime

  • Not bad for the BBC, but can’t help themselves resorting to the “different this time” – so there will be no recession line.

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  • The BBC is paying lipservice to the issue of BTL being subprime though – limiting the news to the World Service – iplayer?!!

    It won’t get any space on the website, because hey – BBC editors have their BTL livelihoods to look after too y’know.

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