Debate House Prices


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House Price Crash Discussion Thread

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  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    EdInvestor wrote: »
    Interest rates to be cut 3 times next year. :)
    And as if by magic, all that nasty credit crunch and inflation will simply float away...
  • Ah yes

    & some of those banks are close to 'moving on' terminally.
    .............................................................................
    But I mustn't say these things, so;

    Everything is fine

    It's just a blip

    The great leader will overcome.

    Which ones? NR yes, but their business model isn't like any of the major banks. Yes, barclays had issues but these havent been proven and even the talk of them going to the BoE for funds this month haven't been confirmed. Yes, the went last month twice but these are for very different reasons than the one NR went for. If you can tell me the others please do, I'd love to read up on that one.

    I'm not saying all is fine and dandy or Mr Brown has got it spot on(great leader, I must admit, I nearly wet myself).. I'm just trying to say, things evolve. How credit is worked out and the limits given, change...
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    Well Citi and Morgan Stanley seem to having the odd 'blip' (and non-banks Countrywide and Bear-Stearns), and... who knows? But I'm sure the UK banks are totaally immune...
  • carolt
    carolt Posts: 8,531 Forumite
    Some more pertinent articles from today's papers:

    Bank's grim warning over UK economy

    Rising inflation and weak house market over next year, says King

    The governor of the Bank of England issued a stark warning yesterday of a looming economic slowdown as he signalled that the next year will be the toughest for Britain in a decade.
    Putting investors on high alert for a sharp fall in share prices, Mervyn King said the period ahead would be marked by slower growth, rising inflation, a weakening housing market and a falling pound.


    http://www.guardian.co.uk/business/2007/nov/15/economy1

    http://www.guardian.co.uk/leaders/story/0,,2211075,00.html
  • JBeau
    JBeau Posts: 35 Forumite
    Also good article www.business.timesonline.co.uk click on title in RH column.

    Also , pinched from www.housepricecrash.co.uk I know - but interesting thread about Southampton EA who is barely selling a thing. 2 as opposed to the normal 40 properties!!!:eek:
  • aardvaak
    aardvaak Posts: 5,836 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    EdInvestor wrote: »


    This is not good news at all!

    This sort of news is not a very good Christmas present!

    I would think there are lots of people who agree with me.

    Who is it going to be good news for if anyone?

    Lets hope for the next movement in rates to be up.
  • Lower the IR, kill the currency, try to inflate the crisis away. Terrific :(

    So the savers pay for the greed of the last few years.

    If I ever become terminally ill, (ie know when I escape, more or less) I just might be tempted to cull one of these swines at the alleged 'top'.
  • tr3mor
    tr3mor Posts: 2,325 Forumite
    EdInvestor wrote: »
    Interest rates to be cut 3 times next year. :)
    Aye, good stuff mate. You'll need the money saved on mortgage payments to pay for increases in petrol and food.

    :money:
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    So the savers pay for the greed of the last few years.
    Maybe not - still some good rates for 1 or 2 years fixes. And as banks aren't too keen on lending to each other, any BoE reduction may only affect a part of the market (loans and savings specifically linked to BoE rates).

    Who gains? well anyone who's paying much more in interest than it's costing them to live. Half a percent or so knocks 10% off your interest bill, but the increase in inflation could add more than that to your "basics" bills (food, power, transport etc).

    Oh, and northern crock/BoE inc - their penalty rate also goes down.

    Who loses? just about everyone else... good re-election strategy, maybe not.
  • LisbonLaura
    LisbonLaura Posts: 1,121 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Also note govt are giving our money to councils to stop council tax rises, which is really a political party bribe which new labour don't pay for......so eveyone is a new labour member suddenly?? - honours for all?
    Yep,it's election time.
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