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Major impact on houses
lypsey
Posts: 201 Forumite
Interesting read on Bloomberg
http://www.bloomberg.com/apps/news?pid=20601039&sid=a6VK2CRqd7bo&refer=home
It says "When the Bank of England's Monetary Policy Committee begins its two-day meeting today, it should consider a shock half-point move straight to 6 percent. Meanwhile, the markets should be thinking about rates peaking closer to 7 percent. "
And "That means interest rates will have to go much higher, and the sooner the Bank of England gets there, the better"
I still believe interest rates will be much , much higher. If any of you follow food prices they are climbing all over the world. Things are different today compared with even just a year ago. Lots of product depend on wheat , barly etc especially animal feed and the prices are rocketing . Also oil prices are very high again
This will have a massive , massive effect on house prices:beer:
http://www.bloomberg.com/apps/news?pid=20601039&sid=a6VK2CRqd7bo&refer=home
It says "When the Bank of England's Monetary Policy Committee begins its two-day meeting today, it should consider a shock half-point move straight to 6 percent. Meanwhile, the markets should be thinking about rates peaking closer to 7 percent. "
And "That means interest rates will have to go much higher, and the sooner the Bank of England gets there, the better"
I still believe interest rates will be much , much higher. If any of you follow food prices they are climbing all over the world. Things are different today compared with even just a year ago. Lots of product depend on wheat , barly etc especially animal feed and the prices are rocketing . Also oil prices are very high again
This will have a massive , massive effect on house prices:beer:
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Comments
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From a political standpoint, looking at the money supply, interest rates *should* be a lot higher than they actually are.
But I'm not convinced the BoE are going to whack rates up. Too risky for them to do so.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
Yeah, i noticed tescos elcheapo beans have gone upto 17p a tin lol. Im sure they were 9p.
Scandalous!0 -
Milk prices are soaring too, especially in the US. I overheard one man grumbling in the supermarket that he didn't know which was more expensive, milk or petrol (they are about the same price in the US now).Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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Someone told me that house prices are going to crash next year - has anyone else heard this? I'm thinking of buying so don't know whether to wait or not now!0
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A lot of people are going to suffer with interest rates at even 6% . I noticed that they predicted that 1 million people will have CCJ's put on them this year. When you sit down and think there are 60million in the uk, a lot of them would be under 18 and the over 60's ( I am assuming a lot) would not have too many problems. This is a lot of WORKING class people. Houses will be repossesed in there droves
With BTL people exiting the market as well , as there is no money in it at all, it is looking like a full scale collapse on house prices.
My guess is 40-50% falls0 -
The longer they hold off, the worse it will be.
Bring on the 6% now and get it over with.0 -
Just read Money Week.They also predict that it will be the buy to let people that will trigger the crash.I would imagine that most of the Johnny come lately landlords are lucky if the rental income covers their repayments.Also I think interest rates should be higher but that could and probally would create chaos!0
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rainbowstar wrote: »Someone told me that house prices are going to crash next year - has anyone else heard this?
Are you Jan Grzebski?0 -
The British would definitely win the gold medal if there was a sport called "House Price Crash Discussions" at the Olympics.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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