http://www.theguardian.com/business/201 ... boom-crash
I wonder what odds you'd get
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| Bank of England warns housing boom may turn to crash http://www.x404.co.uk/forum/viewtopic.php?f=19&t=21901 |
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| Author: | pcernie [ Thu May 01, 2014 9:11 pm ] |
| Post subject: | Bank of England warns housing boom may turn to crash |
http://www.theguardian.com/business/201 ... boom-crash I wonder what odds you'd get
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| Author: | l3v1ck [ Fri May 02, 2014 6:05 am ] |
| Post subject: | Re: Bank of England warns housing boom may turn to crash |
How are they going to stop it? They can't raise interest rates without crippling the economy. They can't raise stamp duty as that would put people off buying and selling all together (it's already a problem. Not enough houses on the market). I guess you could insist in larger deposits, but that would only affect first time buyers and probably just houses at the cheaper end of the market. In London you often see large Asian families living together in one big house, with that many incomes to help pay for it, prices there could go up for quite a while. All they can do is massively increase the rate at which houses are built. Something builders and politicians are always talking about, but never actually do. At the end of the day, supply and demand of houses and supply of mortgages are always the main issues here. I guess the new tests for issuing mortgages might help. Don't they look at you finances in more detail to see if you can cope with an interest rate rise now? |
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| Author: | davrosG5 [ Fri May 02, 2014 10:54 am ] | |||||||||
| Post subject: | Re: Bank of England warns housing boom may turn to crash | |||||||||
Indeed they do - clickety. At the moment lenders appear to be saying they'll use a 6 -7% interest rate figure in the stress test. That would be a 2-4% rise in mortgage rates compared with current levels. |
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| Author: | MrStevenRogers [ Sat May 03, 2014 1:06 am ] |
| Post subject: | Re: Bank of England warns housing boom may turn to crash |
i believe the biggest problem is 'buy to let' which has created a 'massive' market for the rental sector for private 'buy to let' buyers that pushes out first time buyers ... |
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