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Debate House Prices
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75% LTV cap Rejected by FSA
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lol - point of reference.That depends on point of reference.
Was it a 'credit crunch' or a return to normality?
The fact that something happens doesnt make it the norm.
in that case the rise in house prices over the past 18 months have been a correction of the over correction that happened in 2007/2008 or maybe it's not the case just because it doesn't suit some peoples way of thinking ...0 -
it depends who you ask - some people will tell you because of 125% mortgages, interest only mortgage and others will tell you that self cert was the norm.Thrugelmir wrote: »Why did lending fall off a cliif?0 -
it doesn't fit in with the thinking of the cult.
blaming Gordon Brown or his Government is a much easier option.
Sorry Chucky, that is bull.
Brown is partly to blame for the problems we have over here. He pioneered light touch regulation, even trumpeted it. It did not work. The FSA gave Northern Rock a clean bill of health up to a week before it nearly went under. Even Lord McFall, the former chair of the Treasury Select Comittee, criticised the FSA for their lack of regulation this week on the BBC news.
Gordon Brown is not 100% to blame for the problems we have but he certainly is partly culpable for them for his reckless spending and is poor regulation of the banks and the financial sector."There's no such thing as Macra. Macra do not exist."
"I could play all day in my Green Cathedral".
"The Centuries that divide me shall be undone."
"A dream? Really, Doctor. You'll be consulting the entrails of a sheep next. "0 -
lol - point of reference.
in that case the rise in house prices over the past 18 months have been a correction of the over correction that happened in 2007/2008 or maybe it's not the case just because it doesn't suit some peoples way of thinking ...
Exactly, it all depends on reference.
But as we know there has been no proven rise in prices, as the data set is inaccurate.
All we do know is that the average house price of property sold under 'normal market conditions' with some removed without us being told, for other reasons they dont say, has gone up.
Ie anyone who beleives they ahve any idea on what is going in, is lying to themselves. The data is simply corrupt.0 -
easy there Mr Mills - i wasn't defending Mr Brown :eek:Spartacus_Mills wrote: »Sorry Chucky, that is bull.
Brown is partly to blame for the problems we have over here. He pioneered light touch regulation, even trumpeted it. It did not work. The FSA gave Northern Rock a clean bill of health up to a week before it nearly went under. Even Lord McFall, the former chair of the Treasury Select Comittee, criticised the FSA for their lack of regulation this week on the BBC news.
Gordon Brown is not 100% to blame for the problems we have but he certainly is partly culpable for them for his reckless spending and is poor regulation of the banks and the financial sector.
the comment was the financial crisis originated from events that were out of his control.
that a better framework could have been in place to prevent these events hurting less is valid.
but i don't 100% agree with that one either because all major economies have been affected by the same economic issues.0 -
so the house price falls aren't proven too or is the data set ok for house price falls or did you miss those?Exactly, it all depends on reference.
But as we know there has been no proven rise in prices, as the data set is inaccurate.
All we do know is that the average house price of property sold under 'normal market conditions' with some removed without us being told, for other reasons they dont say, has gone up.0 -
so the house price falls aren't proven too or is the data set ok for house price falls or did you miss those?
Not missed,
The average value of a subset of property sold under 'normal market conditions' with some removed for reasons we dont know does change alot.
Who the hell knows, nobody.0 -
Thrugelmir wrote: »Why did lending fall off a cliif?
Because the banks capital was wiped out due to investments in 'AAA' financial instruments that contained some seriously dodgy US sub-prime mortgages, why do you think the banks curtailed lending?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Because the banks capital was wiped out due to investments in 'AAA' financial instruments that contained some seriously dodgy US sub-prime mortgages, why do you think the banks curtailed lending?
Over reliance on wholesale money markets. Precisely the reason that all the demutualised building societies have failed, and secondary lenders have withdrawn from the mortgage market.
The "banks" is a very broad generalisation. Not all the banks joined in the lending frenzy, nor bought US sub prime investments. Much of sub prime debt ended up with pension funds, insurance companies and in asset management funds all over the world.0
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