Friday, Feb 27, 2015

Even Daily Mail readers can now afford a house

Daily Mail: 1.18% FIXED mortgage rate?! What you need to know to take advantage of the best deal EVER

And with prospects for my predicted 0.25% cut to 0.25% now made explicit by Carney's statements, what next for housing? Clearly, I am expecting a boom in north east London where I have purchased, due to Lea Valley lines coming under London Overground in just three months time, plus Crossrail 2 announcements soon, likely four tracking on the West Anglia Mainline to Stansted and a new Stratford to Angel Road railway. Crossrail 1 will also shift money towards Redbridge, Havering and Dagenham. So the big boom now is overspill from bloated prime London into the forgotten suburbs that peaked out previously just before World War II, when London reached its previous peak population. Now with news that immigration has soared some 50% (official numbers only), it starts to get interesting.

Posted by libertas @ 12:11 AM (7308 views)
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8 Comments

1. Black Swan said...

Dear sir, are you familiar with the term "confirmation bias"?

Friday, February 27, 2015 10:12AM Report Comment
 

2. khards said...

1.79% First Direct tracker is as good as a fixed. Can;t see the UK, EU or US increasing base rates anytime in the future as they can't afford to.
I no longer buy this crap about the market drives interest rates as the markets are so manipulated.

The central bankers are also the market

Friday, February 27, 2015 10:14AM Report Comment
 

3. mark said...

talking of prices going up, i really do think the inflation figures are being fudged

still seeing food prices going up in the hidden way by reducing pack sizes, such as hovis losing 60g on a loaf , still same price, plus many other products the same

Friday, February 27, 2015 12:31PM Report Comment
 

4. khards said...

@mark - I am also seeing prices of some selected brand items rising. I don;t see the same inflation in own brand goods, basic fruit n' veg and LIDL own brand goods.

Friday, February 27, 2015 03:54PM Report Comment
 

5. wdbeast said...

"Clearly, I am expecting a boom in north east London where I have purchased"

Libby, you really haven't grasped what is going to happen to house prices everywhere once the debt crises comes, have you!

Friday, February 27, 2015 04:52PM Report Comment
 

6. enuii said...

Can't be long now, the mortgaged classes especially 'London Lower Middle' will be hit hard. Notice that the Woolwich aka Barclays are typically pushing the line that 'Lenders typically give joint applicants up to 5 times their combined income, or possibly higher, depending on affordability and credit scoring.'

So if we ignore any increase in interest rates there is not much scope for larger mortgages to support any further increases in house prices for those who require mortgage funding to do so.

We are effectively at 2006 levels of risks (if not beyond).

Friday, February 27, 2015 08:47PM Report Comment
 

7. khards said...

Yeah, I would say so and looking at stock prices I would say we are also at 2004 to 2006, which like that period gives a couple of years levitation before it all blows up again.

The trick this time will be predicting what to short this time around, which I guess will be based on guessing what rules of the game they change this time around. Since they favour themselves and wish to protect their wealth whilst keeping their voters happy expect more of the same. Cuts to the poor, services, young people, police, kids etc. More for the bankers and pensioners, stealth taxes more lying, more propaganda, more price manipulation via central banks, more punishment for savers.

It will end in civil war, with the country folk storming the city.

Friday, February 27, 2015 10:27PM
 

8. icarus said...

re- libertas intro - A recent London First report recommended more tax/spend powers for Boris and suggested that some of the extra revenue should come from a tax on any house price rises that are due to transport/infrastructure improvements.

Monday, March 2, 2015 08:29AM Report Comment
 

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