Doomed I tell yer!

[ThomasSoerensen]

Don't worry about your mortgages guys.

I am sure you were sensible enough when you financed your property to take out a fixed interest mortgage, just like me, at 3%, just like me.

It is all the speculative suckers with ARM's that should worry, not you.

[Red 7]

I worry for the folks who have gone for 90%+ mortgages at 5x income multiples. When the bubble goes tits-up (and it will) those people are going to feel very agrieved - just like last time.

People have short memories and forget that market gains and losses are cyclical. The only thing that matters is guessing the right time to get on and off the roundabout.

"It won't happen THIS time!"... pull the other one

I guess this makes me a bear. Raaa..

[thunderlizard]

If they'd let work me on that CDO-pricing project I pitched for last week, this would never have happened.

[Xenophon]

(and still be able to pay it at 25% interest)

25% interest would be a bit of a stretch for me...

[wendigo100]

I keep reading respected (and less respected) commentators saying "But it's different this time..." and "the landing will be soft..."

Too bloody right it's different - the debt bubble is much worse!

[lilelvis2000]

Naahhh. the banks will invent 125 year mortgages. Housing boom to continue. Rich and corrupt home builders to earn even more.

[Troll]

House prices went up by 0.7% across the UK last month, according to the latest survey from the Halifax bank.

The Halifax said July was the fourth month in a row to show a house price increase lower than 1%, indicating that the market was slowing down.

Knife edge

[richard-af]

Global and national commerce has gone waaaaay beyond the good old days of actually having something tangible (gold) in the deep, dark vault to backup its credit status.

It's all pretend dosh, anyway, and, as lilelvis2000 said, there's no way the banks won't find a way around any hiccups like a housing crash. Of course, someone, somwewhere has to pay the price. Happily for we in the West, that's the disenfranchised in the sweatshops of the Eastern World, who'll carry on working for a penny a day.

Happy times!

[Pickle2]

Naahhh. the banks will invent 125 year mortgages. Housing boom to continue. Rich and corrupt home builders to earn even more.

We already have infinite length mortgages, I think they call them "intrest only".

[wendigo100]

We already have infinite length mortgages, I think they call them "intrest only".