Tuesday, June 24, 2008

Now will the sheeple stop buying houses??

Home loan approvals dive to record low in May

Two thirds of Britons own their homes, putting millions at risk of negative equity -- when the house value falls below its mortgage -- if house prices crumble. However, that may be a way off yet, given that prices trebled over the last decade. TOUGH TIMES While soaring commodity prices across the globe have forced inflation to the top of the political agenda and convinced financial markets that interest rates are heading higher, most economists expect rates will eventually have to fall.

Posted by housebear @ 02:31 PM (736 views)
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3 thoughts on “Now will the sheeple stop buying houses??

  • “Two thirds of Britons own their homes, putting millions at risk of negative equity”

    Well that’s crap. If they have a mortgage on their house they don’t own it – the bank does. It is not possible for someone who owns their house to be in negative equity. And most of the people they are referring to are people that have MEWed – so all they are really saying is that people that have borrowed money are in debt.

    Reuters must be employing BBC journalists to get stuff this badly written.

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  • People with Humanities Degree’s are running the country, what does every expect!

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  • it_is_going_with_a_bang says:

    Many. many people used the equity they might of had to fund their lifestyles.
    So it’s not just a case of how many people bought early on.

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