Debate House Prices


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Mortgage Lending Down

UK mortgage lending remained subdued last month, figures from the Council of Mortgage Lenders (CML) suggest.

Total lending was £12bn in September, the lowest September total since 2000.

The CML's figures, which cover borrowing for house purchases as well as remortgaging, were down 1% from August and 7% lower than in September last year.

The CML data indicates lending is stagnating after picking up earlier in the spring.
http://www.bbc.co.uk/news/business-11581929

Approvals down to 48,000 too.
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Comments

  • It's not surprising really with the media spin surrounding the spending review. Everyone thinks the sky's about to fall in and they're buying tesco value beans, not property.

    We can only hope someone starts talking some sense rather than announcing 500,000 people are going to be made redundant on Thursday.
  • And, Graham, whose fault are those dreadful figures. Yes, hun, the fault of the coalition..... useless bunch.:(
    If you keep doing what you've always done - you will keep getting what you've always got.
  • LauraW10 wrote: »
    And, Graham, whose fault are those dreadful figures. Yes, hun, the fault of the coalition..... useless bunch.:(

    They've had six or so months in office. I think the previous lot might have to take the majority of the blame for now.
    Set your goals high, and don't stop till you get there.
    Bo Jackson
  • LauraW10 wrote: »
    And, Graham, whose fault are those dreadful figures. Yes, hun, the fault of the coalition..... useless bunch.:(

    Grip hun, Get one :D
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 21 October 2010 am31 9:22AM
    Blacklight wrote: »
    It's not surprising really with the media spin surrounding the spending review. Everyone thinks the sky's about to fall in and they're buying tesco value beans, not property.

    We can only hope someone starts talking some sense rather than announcing 500,000 people are going to be made redundant on Thursday.


    Nothing to do with the banks not handing out mortgages like sweets then (like they used to). Its all the medias fault

    And not quite 500,000 but 490,000 isnt far off and thats without the knock on affect for the private sector
  • worldtraveller
    worldtraveller Posts: 14,012 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 20 October 2010 pm31 7:09PM
    Am I missing something here? When the economy is, no doubt IMHO, heading for the much trumpeted 'double-dip recession', why on earth would the banks want to advance funds to any customer, apart from the most credit worthy, in a market where house prices are likely to fall significantly over the next few years?!
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Am I missing something here?

    Dunno, but I know what we are missing. Where are the regulars to spin this news?!?!
  • Am I missing something here? When the economy is, no doubt IMHO, heading for the much trumpeted 'double-dip recession', why on earth would the banks want to advance funds to any customer or business, apart from the most credit worthy, in a market where house prices are likely to fall significantly over the next few years?!


    take away the first round of monetary easing (printing money) i would argue we never left the first recession .

    green
  • arby
    arby Posts: 173 Forumite
    take away the first round of monetary easing (printing money) i would argue we never left the first recession .

    green

    no need to make an argument- it's a simple mathematical fact.
  • Degenerate
    Degenerate Posts: 2,166 Forumite
    take away the first round of monetary easing (printing money) i would argue we never left the first recession .

    green

    Indeed, take away sensible monetary policy and we'll be in constant recession. Your point was?
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