Wednesday, July 20, 2011

Spot the extra

Mortgage lending continues to be subdued, lenders says

"Mortgage lending picked up in June but was still lower than a year ago, the Council of Mortgage Lenders (CML) said. Total lending to home owners was £12.9bn last month, up by 16% from May but 3% down on June last year. For the first six months of the year, total mortgage lending was only slightly down on last year's figure, at £63.7bn. The CML said the subdued state of lending reflected the poor state of the economy and household finances."The UK economy continues to experience disappointing economic growth, strong consumer price pressures, falling disposable incomes and an uncertain jobs market. Recent emotive headlines on repossession prospects appear overplayed, given that the state of our economy does not warrant large interest rate rise... " We're down to less than half 07 levels.

Posted by mark wadsworth @ 10:13 AM (1389 views)
Please complete the required fields.



3 thoughts on “Spot the extra

  • mark wadsworth says:

    My suggested title was “Spot the extra ‘s’ in their headline” but it got chewed up somehow.

    Reply
    Please complete the required fields.



  • “The UK economy continues to experience disappointing economic growth, strong consumer price pressures, falling disposable incomes and an uncertain jobs market,” said the CML’s chief economist Bob Pannell………………….he kept the remainder of his thoughts to himself which were “this sounds like a recipe for falling house prices”

    Reply
    Please complete the required fields.



  • Natalinbrazil says:

    hi all.am a daily viewer of the HPC website. dont really understand most of the comments(ie re gold prices or govt bonds etc) but enjoy the input shared. Most of you are clever people!…………..However i disagree that there will actually be a house price ‘crash’. I live in East London(E18) and it is obvious houseprices are too high – even with all the spin here about Crossrail,good schools,the Olympics etc. My house is ‘worth’ 370k but was sold in 1996 for 80k. In relation to my wages etc this inflated valuation is ridiculous. But…will increased inflation and low IR act as the devaluation the housing market needs – instead of a sudden 50% crash? (and it is around 50% IMO) if for example UK IR stay low for the next 20 years and inflation is high wont this 50% devaluation be achieved to correct itself? its just my theory but i would welcome comments to why this wont happen. Thanks

    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>