Housing :Biggest fall in three years !

luvpump

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/9361187/House-prices-record-biggest-fall-in-three-years.html

Thrugelmir

Seems as if the corner has been turned after decades of growth in mortgage debt. A good sign for the future.

British Bankers' Association (BBA) figures released yesterday showed that mortgage repayments outstripped lending for the first time last month as Britain's households became more cautious.

Net mortgage lending declined by £73m – the first reversal in the 16 years that records have been compiled by the BBA.

homelessskilledworker

Thrugelmir wrote: »

Seems as if the corner has been turned after decades of growth in mortgage debt. A good sign for the future.

There is so many ways that statement could be read, some would say that buyers won't/can't borrow money:)

moneyinmypocket

As people have to live somewhere and someone houses are as "safe as houses"

Thrugelmir

homelessskilledworker wrote: »

There is so many ways that statement could be read, some would say that buyers won't/can't borrow money:)

The banks have to deleverage and lend less. That's a fact. So the trend will continue given time. Irrespective of what borrowers may or may not do.

homelessskilledworker

moneyinmypocket wrote: »

As people have to live somewhere and someone houses are as "safe as houses"

Pardon???......

moneyinmypocket

Houses will go up in price

homelessskilledworker

moneyinmypocket wrote: »

Houses will go up in price

Oh ok..........

RenovationMan

Thrugelmir wrote: »

Seems as if the corner has been turned after decades of growth in mortgage debt. A good sign for the future.

Hopefully the days of prudent lending and borrowing will return with mortgages loaned on ability to repay, rather than arbitrary mortgage multiples that make no consideration for the borrowers net income.

Good news, lets hope the trend of mortgage repayments continues.

wotsthat

GMensler wrote: »

Soon it will be the biggest fall in 5 years :T

If only we can get all the repossessions out the way and interest rates to more normal levels everything will be rosy.

Buy silver!

moneyinmypocket

Get ready for next boom renters