House market final props could soon collapse

shortchanged_2

Come on RenoMan you're clutching at straws there.

The similarites from what Mervyn King said and what I said are obvious to most. If he's saying that a rise in interest rates would cause more house repossessions, then the BoE are obviously considering the housing market when they are making their interest rate decisions.

RenovationMan

shortchanged wrote: »

Come on RenoMan you're clutching at straws there.

The similarites from what Mervyn King said and what I said are obvious to most. If he's saying that a rise in interest rates would cause more house repossessions, then the BoE are obviously considering the housing market when they are making their interest rate decisions.

Nope, he's not saying he's keeping rates low in order to help heavily indebted mortgagee's. I'm a heavily indebted mortgagee yet I doubt Merv is worrying about me.

He's saying that higher rates would result in higher corporate insolvencies, house reposessions and unemployment. He's right, if companies go bust then people lose their jobs and, if they can't find another job, eventually they lose their houses.

ess0two

shortchanged wrote: »

Can't find one I'm afraid. But he definately said it.

More hearsay bolx.

shortchanged_2

ess0two wrote: »

More hearsay bolx.

Why. Did they write a song with that title?

shortchanged_2

RenovationMan wrote: »

Nope, he's not saying he's keeping rates low in order to help heavily indebted mortgagee's. I'm a heavily indebted mortgagee yet I doubt Merv is worrying about me.

Are you sure about that?

Flight2quality

shortchanged wrote: »

Are you sure about that?

Just think of the tsunami of repossessions when interest rates go back to normal. There are even some people getting repossessed now with 300yr low interest rates, what will it be like when they are back to normal?

RenovationMan

shortchanged wrote: »

Are you sure about that?

I'm pretty sure that merv isn't worried about me. Indeed I don't even think he knows I exist as he's probably a bit too busy to read MSE. I'm flattered that you think I move in such exalted circles though.

shortchanged_2

RenovationMan wrote: »

I'm pretty sure that merv isn't worried about me. Indeed I don't even think he knows I exist as he's probably a bit too busy to read MSE. I'm flattered that you think I move in such exalted circles though.

Yes maybe not worried about you personally RenoMan but I'm sure he is concerned about the raft of people like yourself in the UK who are so heavily indebted.

RenovationMan

shortchanged wrote: »

Yes maybe not worried about you personally RenoMan but I'm sure he is concerned about the raft of people like yourself in the UK who are so heavily indebted.

I'm sure he's more concerned with banks and industry than people like myself as the 'heavily indebted' are few and far between with the average mortgage being surprisingly low.

I'd be surprised if he is worrying about my debt though because he'd be the only person who is. I'm absolutely delighted with the way things are going at the moment and the way things are projected to go in the future.

shortchanged_2

RenovationMan wrote: »

I'd be surprised if he is worrying about my debt though because he'd be the only person who is. I'm absolutely delighted with the way things are going at the moment and the way things are projected to go in the future.

That's exactly why he is worrying about debts like yours even if he is not publicly saying it much.
If interest rates did go up then I doubt yourself and others like you in the same boat would be so chuffed then.