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Housing market phase 3

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    Housing market phase 3

    Looks like we've moved into the

    disbelief->denial->panic->anger->acceptance

    phase
    I'm alright Jack

    #2
    Originally posted by BlasterBates View Post
    Looks like we've moved into the

    disbelief->denial->panic->anger->acceptance

    phase
    So it's all finished? Let it be.
    I've seen much of the rest of the world. It is brutal and cruel and dark, Rome is the light.

    Comment


      #3
      ``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''

      ``My biggest fear is that when I try to re-mortgage it won't be accepted,'' said Robin Bingeman, 34, a product manager in southwest London, whose monthly payments are scheduled to rise to 2,600 pounds in May from 1,700 pounds. ``I had to go back to my employer and say I need a raise in order to survive.''

      Why did people assume interest rates would stay < 5%?
      Last edited by Bagpuss; 7 April 2008, 15:21.
      The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

      But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

      Comment


        #4
        Originally posted by Bagpuss View Post
        ``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''

        Why did people assume interest rates would stay < 5%?

        short-term memory loss maybe?

        or just the head-in-the-sand approach to life?
        It's Deja-vu all over again!

        Comment


          #5
          Originally posted by Bagpuss View Post
          Why did people assume interest rates would stay < 5%?

          Maybe they believed brownstuff saying he'd bring about the end of boom and bust.
          Feist - 1234. One camera, one take, no editing. Superb. How they did it
          Feist - I Feel It All
          Feist - The Bad In Each Other (Later With Jools Holland)

          Comment


            #6
            Originally posted by KathyWoolfe View Post
            or just the head-in-the-sand approach to life?

            Didn't work too well for that Latvian woman in Scotland did it!
            Feist - 1234. One camera, one take, no editing. Superb. How they did it
            Feist - I Feel It All
            Feist - The Bad In Each Other (Later With Jools Holland)

            Comment


              #7
              Originally posted by PAH View Post
              Didn't work too well for that Latvian woman in Scotland did it!
              It's about time I changed this sig...

              Comment


                #8
                Originally posted by PAH View Post
                Maybe they believed brownstuff saying he'd bring about the end of boom and bust.
                When I had a mortgage, I considered if I would be able to afford it should rates double. I can't believe all these stories of people budgeting on little or no movement in interest rates from historically low levels. Who are these people and will they buy some magic beans?
                The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                Comment


                  #9
                  Originally posted by Bagpuss View Post
                  Who are these people and will they buy some magic beans?
                  Do you do a finance deal?
                  It's about time I changed this sig...

                  Comment


                    #10
                    Originally posted by Bagpuss View Post
                    Why did people assume interest rates would stay < 5%?
                    They were lied to - brokers certainly were saying that don't worry about overextending yourself because you will just switch morgage to another cheap fixed term.

                    Comment

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