Tuesday, March 30, 2010

Some said it was the snow!

Weak bank lending threatens recovery and housing market

"Bank lending to business and home buyers remains critically weak, according to the latest data from the Bank of England, endangering the revival in the housing market and the wider economic recovery". (I thought it was fear of interest rate hikes in the near future).

Posted by alan @ 10:11 PM (1217 views)
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3 thoughts on “Some said it was the snow!

  • But growth was revised upwards! Something can’t be right.

    I think the key is in the phrase “endangering the revival in the housing market and the wider economic recovery“. Notice how the author has made them synonymous when the growth data shows they’re not?

    Let’s translate “IF MY HOUSE PRICE GOES DOWN, SO DOES THE WHOOOOLE ECONOMY, SO YOU BETTER MAKE ME RICH!”

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  • fallingbuzzard says:

    Consider the source! If he was writing about the VW Golf, I would believe him.

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  • it_is_going_with_a_bang says:

    House price inflation IS the UK economy.

    A rather sad fact of UK life.

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