Google+

Entradas populares

Comparte

La increíble épica

miércoles, 2 de noviembre de 2022

Who would a housing crash hurt?

Who Would a Housing Crash Hurt?

Matteo Tiratelli: Nothing says "crisis" to our political elite like a house price crash. Margaret Thatcher's right to buy scheme, introduced in 1980, promised private property and asset ownership to millions. And since then, rising prices have been the motor for economic growth and personal enrichment in Britain. But the storm clouds are gathering.

Around the world, housing markets are starting to creak. In Canada and Sweden, prices are down 8% since February. In New Zealand, they've fallen by 12% since their peak in 2021. In the US, transactions have started to slow and the pressure on prices in big cities is growing.

Britain's not at that stage just yet. But Halifax and Nationwide are reporting that monthly house price growth has started to turn negative, and low-deposit mortgages are being rapidly withdrawn from the market. Spooked by these global headwinds, many experts are now predicting steep falls over the next year.

Experts are predicting large falls in house prices over the next 12 months: Knight Frank -5%; Rightmove -7%; HSBC -7.5%; Bloomberg -10%; John Charcol Ltd -10%; Fox Davidson -10%; Panmure Gordon -14%; Credit Suisse -15%; Capital Economics -15%.

The story behind this downturn is simple. Coronavirus-related supply chain issues and the spike in energy prices have driven double-digit inflation, provoking a cost of living crisis for millions. Central banks then responded by raising interest rates, which had sat at rock bottom since the 2007 financial crisis. And, as interest rates have gone up, so too have mortgages. This huge jump in monthly mortgage payments will mean even people who have managed to save up for a deposit won't be able to afford a home, driving demand and prices down.
CONTINUE READING ➡︎

Picks of the week...

ANALYSIS

Austerity 2.0 is Another Con Job. Don't Fall for It

by James Meadway


The government is laying the groundwork for another round of cuts to keep big finance happy. Read more...

REPORT

A Union in Lebanon is Supporting Armed Bank Holdups
by Habib Battah


A union in Lebanon is representing people who are marching into banks with real or toy weapons to demand their money. Habib Battah reports. Read more...
READ MORE ON NOVARAMEDIA.COM ➡︎

Back independent journalism from £1 per month.

It's been a conscious editorial decision to publish reporting and analysis that considers what it takes to build a society that works for the everyone. You won't find articles like this in the mainstream media at large. Billionaire funders and advertising partnerships define what is, and is not covered - and they certainly aren't interested in building a fairer society.

But we are funded entirely by an audience of people who believe in what we do.

Setting up a regular monthly donation is the best way to help us sustain our work, grow our output, and expand our reach.

Support us with a monthly donation from just £1 per month to help us to plan our future, and be more resilient in the media space. 

Alternatively, you can support us with a one-off donation. We know times are really tough, so any support you give does not go unnoticed.

Thanks so much – we couldn't do this without you.

Website
Facebook
Twitter
YouTube
Link
Copyright © 2022 Thousand Hands Ltd. All rights reserved.

Thousand Hands Ltd is a private company limited by guarantee registered in England and Wales #11245029. Its registered address is 10 Bridge Street, Christchurch, BH23 1EF. Novara Media is a trading name of Thousand Hands Ltd and, as such, the individual shall have no personal liability arising out of such communication, and liability or obligation rests solely with Novara Media. Opinions or advice contained in this email are subject to the terms and conditions set out in the relevant terms of business and are not necessarily agreed or authorised by Thousand Hands Ltd.

We have taken all reasonable precautions to ensure that no viruses are transmitted from Novara Media to any third party. Novara Media accepts no responsibility for any loss or damage resulting directly or indirectly from the use of this email or the contents. Novara Media is regulated by IMPRESS, the independent press regulator.






This email was sent to sauuuuul.peliculas@blogger.com
why did I get this?    unsubscribe from this list    update subscription preferences
Thousand Hands Ltd trading as Novara Media · 10 Bridge Street · Christchurch, Dorset BH23 1EF · United Kingdom

No hay comentarios :

Publicar un comentario

Archive