Radio 4 Today programme: Economy and house prices on the up

nollag2006

Good news on employment, the economy, and house prices all predicted to rise according to the BBC this morning:

http://www.bbc.co.uk/iplayer/episode/b01n9wzk/Today_15_10_2012/

About 17 minutes in.

Good comments about the mortgage famine ending.

moneyinmypocket

Yes it's happening I knew it would be just a matter of time. Those taps are turning and the pipe is running hot ready to flood the market

Loughton_Monkey

nollag2006 wrote: »

...Good comments about the mortgage famine ending.

moneyinmypocket wrote: »

...Those taps are turning and the pipe is running hot ready to flood the market

I'm afraid that what we have here, is a case of mixed metaphore.

Is it a famine? Or is it a drought? When it ends, will we get fat on the new credit, or will we all get drunk? Make your minds up lads....

I've already made mine up....

.. large gin & tonics all round...

ManAtHome

So the banks are really really definititely squeaky clean and sorted now and Merv won't have to invent any more dosh ever... rofl, fnar etc...

Sibley

There was no house price crash.
Like I said before. Decent stock did not drop a penny.

Now sit back and watch prices go up. Easy credit coming.

Self certs will be back as well.

Dribley

Sibley wrote: »

Self certs will be back as well.

There's only one thing around here that needs certifying.;)

abaxas

Wohooo the mortgage famine is over. Every vendor has taken 30-50% off their price as of today.

Wohoooo...

Conrad

Sibley wrote: »

Easy credit coming.

Self certs will be back as well.

I can't see self certs returning as they are percieved as very much part of the opaque mortgage packages that were sold on to investors pre the crunch, although UK self certs have exhibited low deliquency rates.


The FSA's core regulatory principle is known as 'Treating Customers Fairly' and so self cert on thier view would be at odds with this, although I believe this to be very short sited given the fact millions of self employed and multi income stream applicants are now forced to rent even though 99%+ of them would perfectly well sustain a mortgage.

Nanny knows best, grown adults cannot be trusted to make life decisions..

daveyjp

And at an event I was at today an economist said in a roundabout way that "if you strip out all the business activity which contribute to us being in a recession we aren't actually in a recession."

Brilliant!

Loughton_Monkey

daveyjp wrote: »

And at an event I was at today an economist said in a roundabout way that "if you strip out all the business activity which contribute to us being in a recession we aren't actually in a recession."

Brilliant!

He should have also mentioned that if ONS stripped out all the stuff that had gone up in price last month, September inflation would have been 0%.

If you ignore the 99% of bad ones, I find British Economists rather brilliant actually.

Graham_Devon

nollag2006 wrote: »

Good news on employment, the economy, and house prices all predicted to rise according to the BBC this morning:

http://www.bbc.co.uk/iplayer/episode/b01n9wzk/Today_15_10_2012/

About 17 minutes in.

Good comments about the mortgage famine ending.

Great.

We can stop QE then. We can get interest rates back to normal. We can pull house building stimulus, and we can get rid of funding for lending.

Ahhh hang on....we'd be up shytle creek..... Which I guess is the reason the likely successor to Sir Lord Merv is considering even more radical proposals just to keep us where we are.

I do love the notion from those "in the know" who speak on such programmes that everything is on the up....followed by a cry for more intervention and stimulus.