Nordic banks step in to back Iceland

earlgrey_3

ianmr65 wrote: »

A housein market that is in freefall... On what basis, do you think then, that we have the more resilliant ecomomy?

Hyperbolic nonsense as are most of your other daffy claims.

The housing market is in no way in "freefall" at this point in time. In the area where I am for example prices are above what they were a year ago and in a few cases still rising.

I personally have long thought there will be a sizeable fall, more than most tend to believe, but trotting out hysterical and factually inaccurate rubbish of that sort can only make it still more likely for the market to overcorrect.

chesky369

Who ARE these people who pop up, post a few times about Iceland and then disappear, never to be heard from again?

freddykrueger

Troll moment..........:D

What do Iceland know about banking anyway? They knit funny jumpers and the whole population is sitting on a volcano :rolleyes:

For info I have an account with Icesave and quite happy :T :T

ianmr65

earlgrey wrote: »

Hyperbolic nonsense as are most of your other daffy claims.

The housing market is in no way in "freefall" at this point in time. In the area where I am for example prices are above what they were a year ago and in a few cases still rising.

I personally have long thought there will be a sizeable fall, more than most tend to believe, but trotting out hysterical and factually inaccurate rubbish of that sort can only make it still more likely for the market to overcorrect.

1) The imf say the Uk housing market will drop by 27%
2) The bank of england are pricing a 22% drop in their emergency funding packagae
3) The banks are risk pricing 75% ltv mortgages or above
4) Savills the estate agents are saying 20%
5) Mortgage approvals are at their lowest since records began in 1990
6) Mortgage rates bear no relation to BoE base.
7) Reposession rates are on the rise.
8) The us market has fallen by 30%
9) Many uk mortgage banks have a large investment in the US & uk sub prime mortgage markets.
10) Average house prices are 6 time average salaries.
11) The BoE have said they will not intervene in the housing market and they think a correction is healthy.
12) Nationwide have just announced 1% drop y on y for the first time since
13) Halifax have just announced a 1% drop y on y
14) The goverment think it's going to be a 10% drop this year at best.



So i guess i'm being hysterical, and factually inaccurate, along with all the bodies listed above, but your local anecdotal findings tell the real story?

earlgrey_3

ianmr65 wrote: »

1) The imf say the Uk housing market will drop by 27%.

Unfortunately your understanding of tenses is even worse than your spelling. A prediction of future falls, including mine, is not the same as saying, as you did, that there is "A housein (sic) market that is in freefall". Can you really not not understand the difference?

ianmr65 wrote: »

12) Nationwide have just announced 1% drop y on y for the first time since
13) Halifax have just announced a 1% drop y on y

Precisely. If you believe that a 1% fall in a year is the definition of "freefall" then you may have a few surprises ahead.

Your graph is of the rate of change, not of actual prices.

lostinrates

home_alone wrote: »

Another first post scare monger.

gary

No, he's my DH I suggested he join as I have had helpful advice from here and thought he might too.

I'm sorry you thought he might be trouble, but he really isn't.

lostinrates

chesky369 wrote: »

Who ARE these people who pop up, post a few times about Iceland and then disappear, never to be heard from again?

Probably people who don't use boards very much an get an unwelcome reception when they do!

lostinrates

freddykrueger wrote: »

Troll moment..........:D
....

For info I have an account with Icesave and quite happy :T :T

No, not a troll.

So do we, which is why I suggested DH join here, see what more financially savvy people were doing with their money.;)

Oblivion

chesky369 wrote: »

Who ARE these people who pop up, post a few times about Iceland and then disappear, never to be heard from again?

Er, Bjork fans?

Dave.

chesky369

Lost in rates - my apologies to your other half. It's just that there have been quite a few of the sort of posting I mentioned.

Having said that though, it's a bit unusual for a first poster to start a thread like this - normally people have a query, or alternatively give answers to someone else's question.