Reply to: Oh Dear™

[dsc]

[...] and strengths of the UK economy.

[Protagoras]

Here we go, first step already....

https://www.bbc.co.uk/news/business-63905505

The government is set to announce what it describes as one of the biggest overhauls of financial regulation for more than three decades.

It is expected to loosen rules on banks introduced after the financial crisis in 2008 when some banks faced collapse.

The changes will be presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy.

The legislation should - but won't - make government bailouts unlawful.

[_V_]

Did they learn nothing from 2008...

They did, there's lots of money to be made with disaster capitalism, hedge funds, offshore accounts and non-dom status

[Dark Black]

Here we go, first step already....

https://www.bbc.co.uk/news/business-63905505

The government is set to announce what it describes as one of the biggest overhauls of financial regulation for more than three decades.

It is expected to loosen rules on banks introduced after the financial crisis in 2008 when some banks faced collapse.

The changes will be presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy.

Did they learn nothing from 2008...

[_V_]

Here we go, first step already....

https://www.bbc.co.uk/news/business-63905505

The government is set to announce what it describes as one of the biggest overhauls of financial regulation for more than three decades.

It is expected to loosen rules on banks introduced after the financial crisis in 2008 when some banks faced collapse.

The changes will be presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy.

[_V_]

Let's face it, Fishy Rishi will prop up the UK housing market using tax payers money, some kind of loan thing, that collapses, costs £100bn and 10% to some non-dom Tory donors.

[AtW]

A mortgage of 4.5x salary may be affordable at near-zero but maybe not at 6%.

And maybe not with falling prices...

[DealorNoDeal]

If this is not affordable for a lot of people, well then there's a big problem somewhere.

A lot of people probably got used to ultra-low rates after they were were held near zero for 13 years. Perhaps many thought this was the new normal.

A mortgage of 4.5x salary may be affordable at near-zero but maybe not at 6%.

[dsc]

Hard to see this not happening with interest rates soaring, rampant inflation, a cost of living crisis, recession and unemployment.

The markets are expecting another 0.5% from the BoE next week, and for rates to peak at over 4% next year.

0.5% is still bugger all tbh, not sure what they are trying to do with it, inflation is currently what, 10% or above? it's not magically going to fix itself, then again, a recession would probably fix it in a way...

As a side note, I listened to an interview with the previous BoE boss and he was saying a healthy interest rate level would be 3.5-4%, so pretty much where things are probably going to end up next year. If this is not affordable for a lot of people, well then there's a big problem somewhere.

[jamesbrown]

Hard to see this not happening with interest rates soaring, rampant inflation, a cost of living crisis, recession and unemployment.

The markets are expecting another 0.5% from the BoE next week, and for rates to peak at over 4% next year.

The UK housing market never goes medium, it always goes big, boom or bust.

[DealorNoDeal]

https://www.theguardian.com/business...-for-mortgages

That aged well.

[ladymuck]

https://www.theguardian.com/business...-for-mortgages

Removing the affordability check for a 3pc rate rise implies that rates are going to increase and lots more people won't be able to afford their mortgage

[DealorNoDeal]

I doubt it has gone YoY negative yet. That is probably still a few months out

Hard to see this not happening with interest rates soaring, rampant inflation, a cost of living crisis, recession and unemployment.

The markets are expecting another 0.5% from the BoE next week, and for rates to peak at over 4% next year.

[_V_]

Bedsits above kebab shops are still grey slates

[Paddy]

Did the actual price of housing fall or did the rate at which the price increases fall?

(too lazy to read the article)

House prices are 'falling' but it depends on location. Average house on a suburban estate is falling. Sought after properties such as those near railway stations or tube stations are increasing in price.