Britons agree property is overvalued.

Graham_Devon

Really2 wrote: »

Housing is not targeted by the BOE, the low rate is a symptom of the economy not for saving home owners.

There have been plenty of nods towards homeowners in BOE speeches regarding interest rates. Pretty sure Mervyn King used homeowners in one of his speeches not too long back.

While rates are not specifically set based on homeowners and homeowners alone, I think it's well acknowledged that it's a major part of the decision.

Really2

Graham_Devon wrote: »

There have been plenty of nods towards homeowners in BOE speeches regarding interest rates. Pretty sure Mervyn King used homeowners in one of his speeches not too long back.

While rates are not specifically set based on homeowners and homeowners alone, I think it's well acknowledged that it's a major part of the decision.

Nod's what like "we rescued them"? what kind of nods.

An operating construction an housing market will be part of GDP and part of an operating economy.

But I find the idea of the base rate being a major part of the base rate decision is one of the most disingenuous comments since Shaggy said " It Wasn't me"

So you mean in the boom they victimize home owners?????

chucky

and again... lowering the base rate had nothing to with maintaining or supporting house prices.

the low base rate has everything to do with the economy, QE and allowing the banks to recapitalise.

however, some banks have a large dependency on property prices that impacts their liquidity.

also, the low base rates have benefited home owners who have had reduced mortgage payments.

Graham_Devon

chucky wrote: »

and again... lowering the base rate had nothing to with maintaining or supporting house prices.

the low base rate has everything to do with the economy and allowing the banks to recapitalise.

however, some banks have a large dependency on property prices that impacts their liquidity.

also, the low base rates have benefited home owners who have had reduced mortgage payments.

Take it up with Mervyn King...

King, who defended his determination to keep rates low in a speech last week, led a majority of MPC members who believe that an interest rate rise would only weaken the economy and hurt homeowners and businesses desperately in need of cheap credit.

chucky

Graham_Devon wrote: »

Take it up with Mervyn King...

give it a rest Devon. you do yourself no favours trying to be clever in stuff you don't understand.

try and read my post again. try and understand and educate yourself while you're there.

Really2

Graham_Devon wrote: »

Take it up with Mervyn King...

It seems to say Economy and Business's in the same quote? Home owners needing cheap credit is vastly different to the main reason the Base rate is 0.5% was for the benefit of home owners.

ed a majority of MPC members who believe that an interest rate rise would only weaken the economy and hurt homeowners and businesses desperately in need of cheap credit

Also I would point out he is talking about his belief of raising rates, considering the economical stability is one of their remits perhaps that is why they are still where they are?
If he believes higher rates would damage the economy they are not artificially low?

Graham_Devon

Really2 wrote: »

It seems to say Economy and Business's in the same quote?

Yes, and?

No one is saying anything different. You stated:

But I find the idea of the base rate being a major part of the base rate decision is one of the most disingenuous comments since Shaggy said " It Wasn't me"

I did incorrectly quote chucky though, was meant to quote you.

Really2

Graham_Devon wrote: »

Yes, and?

No one is saying anything different. You stated:

.

And you stated

Graham_Devon wrote: »

While rates are not specifically set based on homeowners and homeowners alone, I think it's well acknowledged that it's a major part of the decision.

Yes so, Major = greater in size, extent, or importance:

Saying it is the major part of the decision is disingenous, the economy is the major part of the decision in a bust.

You have quoted what he thinks a rate rise would effect, not why rates are where they are. (to help owers in the main seems to be the reason banded about here)

Graham_Devon

Really2 wrote: »

Yes so, Major = greater in size, extent, or importance:

What? You are now redefining the word major, to greater?

Sorry, but I can't really follow any line of argument you post if you are going to change the english language while discussing to suit!

Really2

Graham_Devon wrote: »

What? You are now redefining the word major, to greater?

Sorry, but I can't really follow any line of argument you post if you are going to change the english language while discussing to suit!

I always see major meaning as meaning one of the highest, greatest etc.

It was not me changing the English language
It is actually from a thing called a dictionary.
http://dictionary.reference.com/browse/major

–adjective

greater in size, extent, or importance: the major part of the town.

great, as in rank or importance: a major political issue; a major artist.

serious or risky: a major operation

Perhaps it was not changing the English language that is the problem here.