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Debate House Prices
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Crashy_Time wrote: »So banks and bankers didn`t have a role in the property bubble then?
If they did house prices wouldn't be at new record highs with mortgage lending at little more than 60% of what it was...“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »If they did house prices wouldn't be at new record highs with mortgage lending at little more than 60% of what it was...
Asking prices are meaningless, people just got a chance to dream a little longer with record low interest rates. But as you know I meant the biggest property bubble in history which started to pop in `08 and caused the biggest bank bailout of our lifetimes.0 -
Crashy_Time wrote: »So banks and bankers didn`t have a role in the property bubble then?
Have you stopped beating your wife?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Crashy_Time wrote: »Asking prices are meaningless, people just got a chance to dream a little longer with record low interest rates.
Actual sold prices aren't though...
And they're on average all well past 2007 levels as well.
But as you know I meant the biggest property bubble in history which started to pop in `08 and caused the biggest bank bailout of our lifetimes.
UK residential mortgage lending and UK residential house prices had the square root of naff all to do with the bank bailout.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Actual sold prices aren't though...
And they're on average all well past 2007 levels as well.
UK residential mortgage lending and UK residential house prices had the square root of naff all to do with the bank bailout.[/QUOTE]
Because it started in America and there was no subprime in the UK right?0 -
The big bank bonuses were in investment banking not retail.Crashy_Time wrote: »Why are bankers getting less bonus than they used to then, and why are there less bankers?0 -
Crashy_Time wrote: »Because it started in America and there was no subprime in the UK right?
No because UK banks lost £15 on overseas mortgage lending for every £1 they lost on UK mortgage lending.
Had their losses been 1/16th of the size they were the bailouts would simply not have been required.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
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Crashy_Time wrote: »So there was no "investment" in prime mortgage backed securities?
You seem to have a conclusion in mind coupled with a compulsion to find evidence to support said conclusion. This way lies madness.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Prim mortgages are not a problem.Crashy_Time wrote: »So there was no "investment" in prime mortgage backed securities?0
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