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Estate agent Haart shows drop of 14% in south-west London in November
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Crashy_Time wrote: »Did you get banned for posting charts that were years out of date? The UK banks survived a GLOBAL economic meltdown, many other countries have already had their property crashes, do you expect us to believe that with all the QE and other nonsense that UK banks can`t appear solvent through a UK property correction? They will do MASSIVE mortgage business and offset their losses with even a 40% correction.
I am not actually banned, just my posts are on some sort of moderator alert and none of my posts ever get published because they don't really tide in with the HPC mantra.
Quite a lot of people have had the same thing happen, there is a thread about it here somewhere. I have never posted any charts on the internet let alone HPC.
Now back to your sutpid point. Banks would CRUMBLE if there was a house price crash of the kind you hope for. Mortgages have only just started to be stress tested at 7% this year.
Before this mortgages were issued without any buffer in the event of a HPC and not too long ago 100% self cert mortgages were being dished out to any Tom, !!!!!! and Harry.0 -
I am not actually banned, just my posts are on some sort of moderator alert and none of my posts ever get published because they don't really tide in with the HPC mantra.
Quite a lot of people have had the same thing happen, there is a thread about it here somewhere. I have never posted any charts on the internet let alone HPC.
Now back to your sutpid point. Banks would CRUMBLE if there was a house price crash of the kind you hope for. Mortgages have only just started to be stress tested at 7% this year.
Before this mortgages were issued without any buffer in the event of a HPC and not too long ago 100% self cert mortgages were being dished out to any Tom, !!!!!! and Harry.
You are confusing stress testing the consumer with stress testing the bank, we will never know the full extent of the backing the banks have had access to, but it was made clear in 2008 that UK banks will be propped up whatever happens, until the government is bust. The only way banks are going to get volumes going in lending is if there is a big price correction, most people in negative equity will still pay their mortgage. You sound like the sort of person who would have been saying in 2006 that banks like RBS were "Rock solid" :rotfl:0 -
Crashy_Time wrote: »You are confusing stress testing the consumer with stress testing the bank.
No I am not - MMR/7% stress test.Crashy_Time wrote: »we will never know the full extent of the backing the banks have had access to, but it was made clear in 2008 that UK banks will be propped up whatever happens, until the government is bust. The only way banks are going to get volumes going in lending is if there is a big price correction, most people in negative equity will still pay their mortgage. You sound like the sort of person who would have been saying in 2006 that banks like RBS were "Rock solid" :rotfl:
Blah blah blah, whatever you say.0 -
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There's a forum on here specifically for discussions on house prices and the economy. Don't worry, I've called you a cab already..."Real knowledge is to know the extent of one's ignorance" - Confucius0
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Are you being serious?
The housing market has defied all logic for donkeys years, helped by our rulers who are deep !!!! in BTL.
Forget cycles when billions of taxpayers money is being used to manipulate a market.
Do you remember Carney saying he will raise rates when GDP gets going? Do you remember Carney saying he will raise rates when unemployment falls?
Interest rates are not going anywhere for a good 2 years, there might be 0.25% movements here and there but you won't be seeing 4% base rates for a loooooong time my friend.
Plus the slump in oil prices which no one saw coming may push us further towards deflation, especially in the Eurozone, so with that backdrop the BoE would be seen as crazy to hike rates.
No, it seems to be obeying the logic of a propped up bubble IMO.0 -
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Crashy_Time wrote: »
Yet the numbers of first time mortgages is apparently at its highest since the crash.
It is hard to know what to believe.0
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