Monday, February 13, 2012

Would the last Ponzi scheme entrants please exit stage right.

Mortgages now funding just 46% of housing transactions

'The Financial Services Authority wants mortgages only to be lent where they can be repaid without borrowers having to rely on house prices going up.'

Posted by sibley's b'stard child @ 09:13 AM (1188 views)
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One thought on “Would the last Ponzi scheme entrants please exit stage right.

  • The 46% figure itself is probably meaningless. We know that gross mortgage lending is down by half (or whatever) and that sales are down by a third (or whatever) and that purchases by FTBs are down by two-thirds (or whatever), you can manipulate all these figures to average out a LTV of only 46%, but so what? it tells us nothing new.

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