When interest rates to go back to normal many more distressed sellers?

RenovationMan

Bigdeflationfirst wrote: »

The coming banking crisis will make cheap credit a thing of the past, you aint seen nothin yet!

Are you speaking from a time portal back in 2007? We've already had the banking crisis already, the government had to nationalise some of them.

DervProf

RenovationMan wrote: »

What else can happen financially to cause a housing crash? What could be worse than now?

Nothing, absolutely nothing.

PaulF81

Bigdeflationfirst wrote: »

The coming banking crisis will make cheap credit a thing of the past, you aint seen nothin yet!

Only for those who havent secured cheap lending already. My mortgage is tracking BOEBR +1.99% for the next 23 years. That means I have cheap lending for the next 23 years as instead of making mortgage overpayments, I can afford nice stuff whilst Base Rate stays below 1% for the next decade.

RenovationMan

DervProf wrote: »

Nothing, absolutely nothing.

God you really are spoiling for a fight DervProf, following me around and making inane comments.

Are you still smarting from the forum drubbing I gave you a couple of days ago when you ran off in tears shouting "RetardMan" (LOL, pathetic) over your shoulder as you left.



You're small fry DervProf and not worth the candle. :cool:

DervProf

RenovationMan wrote: »

God you really are spoiling for a fight DervProf, following me around and making inane comments.

Are you still smarting from the forum drubbing I gave you a couple of days ago when you ran off in tears shouting "RetardMan" (LOL, pathetic) over your shoulder as you left.



You're small fry DervProf and not worth the candle. :cool:

That £55 watch battery must have really got to you, you keep repeating yourself.

Tip : Buy yourself a cheap Casio, and replace it after 5 years when the strap breaks, or the battery goes flat. You could use the £45 you`ve saved to pay of some of that mortgage.

treliac

The_White_Horse wrote: »

easy credit has been hard to come by for the last few years, yet house prices near me (including next door neighbour who sold 4 months ago) are rising (in London). So, how do we explain that?

London is the exception rather than the rule and there is generally more money around amongst the house buying sector...... greater number of better paid jobs, foreign buyers..... ?

buglawton

Explained by the fact UK is moving towards 3rd world style income disparities between the best & the worst off:

UK's income gap widest since 60s - The Guardian

So naturally UK house prices are polarising too.
The comparison with the 60s, when completely ordinary young folk were buying semis in the suburbs of London to start their families with, is stark.

Flight2quality

RenovationMan wrote: »

We've already had the banking crisis already, the government had to nationalise some of them.

Most of the problems were kicked down the road, extend and pretend and the big real crisis is yet to come.

PaulF81

Flight2quality wrote: »

Most of the problems were kicked down the road, extend and pretend and the big real crisis is yet to come.

What is to stop them rolling all the bad assets up into a single toxic bank and monetizing the debt black hole away? Its what they have been doing and will continue to do until this washes through the system. As for rate rises, we have over 200 billion and a doubling of the money supply since 2007 to use as a first shot against inflation. Any sign of pay rises and rates will go up, but who honestly expects a significant pay rise in the next couple of years (unless you are a CEO of course!).

hillcats

PaulF81 wrote: »

Only for those who havent secured cheap lending already. My mortgage is tracking BOEBR +1.99% for the next 23 years. That means I have cheap lending for the next 23 years as instead of making mortgage overpayments, I can afford nice stuff whilst Base Rate stays below 1% for the next decade.

Your rate is not particularly good though... So don't shout too loud !