Boomed! More proof Credit Crunch is nonsense

[DimPrawn]

Good to see the ongoing deluge of impartial advice on housing matters from people without vested interest.

Stop wasting valuable time and get yourself out there and buy up all these loverly new bedsits!!!

Bargains galore and they can only go up next month. It's there in black and white!

[foritisme]

Nic Spaull, managing director of New Homes Mortgage Helpline, said: "New homes are a safe option compared to the second hand homes market, as the economic crisis has resulted in the number of new homes built this year falling a long way short of the government's targets.

"Those that are able to secure themselves a new home over the next few months are likely to see the value of their home well protected, and when the market recovers, new home values are set to rise considerably."

Credit Crunch MY ARSE!

Boomed!

Hmmmm New homes will go up, but second hand homes will not. When does a new home become a second hand home

[DiscoStu]

Stop wasting valuable time and get yourself out there and buy up all these loverly new bedsits!!!

Bargains galore and they can only go up next month. It's there in black and white!

Alternatively buy a house next door to Cyberman, the houses in his area are apparently immune to a downturn. Boomed!

[AlfredJPruffock]

Readers may recall that 4 weeks ago I made a shrewd investment - an appartment over a Kebab shop in Rekjavik - which I paid 5 trouts for.

Now - that same appartment is worth 5 salmons.

Isnt Capitalism wonderful !!!????

[Stan.goodvibes]

The missus was offered a credit limit increase of 2.5 grand on one of her credit cards last week.

Doesn't quite match the picture being painted by the media.

I missed the picture of your missus that was painted by the media - perhaps you could post a link...

[Stan.goodvibes]

So the crunch started because people noticed that a fair amount of debt was 'sub-prime' and the loaners *might* default.

I wonder how much of that 1.8 trillion dollars of 'toxic' debt that was needed to be secured somehow (by we the peoples) has actually gone bad?

It seemed to me that a lot of the crunch was created by S&P and Moodys downgrading the banks ratings thereby forcing them to increase their capital base, at a time when that was nearly impossible to do so.

Yeah everyone was over-leveraged, but without the panic the banks could have taken the losses from those mortgages that *did* default (over time) as per normal losses (mortgage defaults, bankruptcies etc). It might have meant a scale-back on loans, and a hit on profits, but it seems to me the situation got completely blown out of proportion forcing an extreme de-leveraging that nearly destroyed the banking system.

Everyone seems to be decrying the days of 'cheap credit', but theres absolutely nothing wrong with cheap credit - its what made our economies expand so much over the last 20 years. As long as people can pay the interest and/or the balance on the loan theres nothing wrong with it.

Bring back the cheap credit!

[Stan.goodvibes]

Oh, and over here in NZ, if I hadn't seen the credit crunch on the news I wouldn't have noticed it - apart from petrol coming down in price and my mortgage rate dropping.

So far the 'Crunch' has been just an interesting story with a beneficial knock-on effect. We should have more of them!

[NickFitz]

Readers may recall that 4 weeks ago I made a shrewd investment - an appartment over a Kebab shop in Rekjavik - which I paid 5 trouts for.

Now - that same appartment is worth 5 salmons.

Isnt Capitalism wonderful !!!????

trout
salmon

Both take the same form in the plural as in the singular. Like "fish".

And "sheep".

Oh, BTW:

apartment
Reykjavik
Isn't

Also, it is generally accepted that numerical quantities below a certain value should be written out ("four" or "five") rather than expressed in numerals ("4" or "5"). But strictly speaking, that is a matter of style rather than an absolute prescription, as is the choice of the "certain value" aforementioned.

Furthermore, "kebab" doesn't take an initial capital (unless it appears at the start of a sentence), as it is not a proper noun.

HTH

[expat]

Also, it is generally accepted that numerical quantities below a certain value should be written out ("four" or "five") rather than expressed in numerals ("4" or "5"). But strictly speaking, that is a matter of style rather than an absolute prescription, as is the choice of the "certain value" aforementioned.

No need for "strictly speaking"; what follows is simply true whether one is speaking strictly or normally.

"Strictly speaking" is circumlocutory and periphrastic.

[oracleslave]

No need for "strictly speaking"; what follows is simply true whether one is speaking strictly or normally.

"Strictly speaking" is circumlocutory and periphrastic.

Blooming 'eck. Hope Xeno is along with the Geek points later.