Saturday, October 29, 2011

More quantitative easing to bail out housing market?

Underwater rescue

Federal Reserve officials have hinted in recent days that they may resume large-scale purchases of mortgage-backed securities, paid for with newly printed money. That would push mortgage rates down further.

Posted by stuartking @ 11:18 AM (1297 views)
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5 thoughts on “More quantitative easing to bail out housing market?

  • crash bandicoot says:

    I fail to see how any of these schemes are more than temporary measures to shore up the current bad situation. There will come a point where some people have to face up to having made a bad decision. Be they homeowners, bankers or insurance companies there is no way that the past mistakes can continue to be hidden in the cupboard. All that does is continue the present unsustainable position and draw more people into unaffordable home ownership while putting increasing burdern on taxpayers.

    As for QE etc. when does providing more and more funny money stop looking like supporting a blip in the system and start looking like outright despiration?

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  • general congreve says:

    No point railing against the wind, let the crooks play their silly games and in the meantime buy gold and be happy. It’s the only way for the little guy to beat them at their own game. When the worm finally turns it’ll be happy days for us lucky few.

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  • markj69 str05 says:

    @gc. Advert for Krugerrands (Or Kurgerrands as they’ve spelt it), on the main webpage. Aimed squarely at you i suspect!

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  • I think everyone should have some gold holding right now. In my view the politicians are playing games.

    I stopped buying about 6 months back because I thought that the politicians would be trying to fix the system…….alas, NO. They just want to keep the game going a bit longer, which means when the bump comes, it will be substantially bigger than it would have been if they had acted earlier…

    I’ve bought some solar panels. They are green and pay back useful sums from your electricity company. The sort of payback time is 7-8 years if prices don’t rise.

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  • general congreve says:

    @3 – Not me, I’ve got Ad-blocker, thought everyone used it these days! Anyway, I loaded up ages ago and told everyone else to do the same, to the sound of much mockery. Now it’ll cost you £500/Oz extra to buy an ounce, a house still costs the same in nominal pounds, wages haven’t risen to match inflation, so a house still cost the same in real terms and the pound in your pocket is worth about 20% less. Oh well.

    @4 – Glad to hear you’ve bought solar panels, they use silver in the manufacturing process, so you’re pretty much taking that silver out of the global stockpile for the mean time at least, or perhaps forever (unless they are recycled in a few decades), which collectively, as the technology is used more widely, is great news for silver prices. However, personally I’m very wary of a broke government’s promises to pay you a feed in tariff for 25 years, I think it is a deal that could easily be rescinded, especially by a different government.

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