I just loved this paragraph from last week's press release from the Council of Mortgage lenders:
“We understand the conflict between slowing economic growth and rising inflationary pressures, and the uncertainty over some of the data reflected in the split views of MPC members last month. However, the MPC had an opportunity to act to anticipate the worsening economic environment today, and it is disappointing that there has been no change. "
Despite feigning understanding about inflationary pressures, the CML remain disappointed that the Bank of England didn't cut rates. The worsening economic environment would be made much worse by a cut in interest rates. Inflation is rising extremely fast right now. A cut in interest rates would exacerbate price expectations and lead to further difficulties down the road.
Disappointed! Whatever!
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2 comments:
What is your view on the future of existing BTL owners ?
Don't be angry about renting - you're better off than many owners right now; to be envied, in fact.
Thankfully my position is secure as it can be (fixed my mortgage a couple of years back and stuck with boring but secure employment)
God that sounds smug.
I could have been much cleverer actually - I missed some bloody good opportunities to clear up and get the hell out of Chav UK.
There. I'm ambivilant about it and feeling far from secure at all.
I think Britain needs to fail economically before her social ills can be remedied. That's IF they can be remedied.
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