Tuesday, June 29, 2010

Bubble deflating very gradually

Mortgage approvals fall

"MORTGAGE approvals fell unexpectedly in May, new figures from the Bank of England show. Last month 49,815 loans were approved – marginally down from April and well below the 51,000 forecast by economists. However, mortgage lending picked up more strongly than expected, rising to £1.184bn from £0.979bn in April – a figure that was sharply upwardly revised from an initial estimate of £0.490bn."

Posted by mark wadsworth @ 03:46 PM (1312 views)
Please complete the required fields.



2 thoughts on “Bubble deflating very gradually

  • sibley's love child says:

    Howard Archer of global Insight said: “On balance, we believe that house prices are likely to be erratic over the coming months and at best will make very modest gains over the rest of the year. Indeed, we would not be surprised if they were only flat overall through the rest of 2010.”

    I often wonder, is ‘flat’ code for falling prices; so as not to rock the boat? Or do they actually think that house prices either go up or are static?

    Reply
    Please complete the required fields.



  • tenyearstogetmymoneyback says:

    Sounds to me as if the same amount of money is being spread across
    a smaller and smaller number of houses.

    I can imagine the headlines in a year or two. Average house price = £8 million.
    Number of houses sold = 1

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>