jay66uk
Well-Known Member
How are you all then? Been very busy so not been in here much.
My economic predictions seem to be coming true, though the housing market has yet to drop by as much as I thought. If you remember I said something like a 40-50% drop from peak to trough followed by a long period of doldrums and that I thought it would have hit bottom by Christmas. I did say "if nothing else happens" - billions of bale out money to the banks being a "something else".
What I didn't see coming was the mortgage market totally freezing up - that has had the affect of stopping the price fall prematurely. The top bod in Barclays today says it will take 1-2 years for the lending to start properly again. My prediction of peak to trough still stands (and, yes, people who bought over 3 years ago will still be up on the deal) but it will take the mortgage market being revived for that to happen. And it will take an enourmous number of repo's of Northern Rock-style 115% mortgages too.
2009 and 2010 are going to be shit years for many many people. Go easy on your credit cards this Christmas. And why would anyone invest in a man called Madoff? Guess what - he made off with the money...
Have a good Christmas and a peaceful 2009.
My economic predictions seem to be coming true, though the housing market has yet to drop by as much as I thought. If you remember I said something like a 40-50% drop from peak to trough followed by a long period of doldrums and that I thought it would have hit bottom by Christmas. I did say "if nothing else happens" - billions of bale out money to the banks being a "something else".
What I didn't see coming was the mortgage market totally freezing up - that has had the affect of stopping the price fall prematurely. The top bod in Barclays today says it will take 1-2 years for the lending to start properly again. My prediction of peak to trough still stands (and, yes, people who bought over 3 years ago will still be up on the deal) but it will take the mortgage market being revived for that to happen. And it will take an enourmous number of repo's of Northern Rock-style 115% mortgages too.
2009 and 2010 are going to be shit years for many many people. Go easy on your credit cards this Christmas. And why would anyone invest in a man called Madoff? Guess what - he made off with the money...
Have a good Christmas and a peaceful 2009.