September 26, 2007 on 6:44 pm | In News | 1 Comment
This week, In Business goes behind the headlines to consider the Bubble economy. The Crash of 2007 comes just seven years after the dot com bubble burst with a bang, just ten years after the Asian economic crisis, and it’s 20 years since the great stock market crash of October 1987. Peter Day will be [...]
September 26, 2007 on 6:02 pm | In News | No Comments
The boss of the popular store Marks and Spencer has said he believes retailers will be facing a touch Christmas this year. Stuart Rose says shoppers are pinching the pennies and spending less on the High Street. It is believed that consumers are less well off thanks to increased taxes, high fuel bills and increased [...]
September 26, 2007 on 5:47 pm | In News | No Comments
HOUSEBUILDER Barratt Developments today warned of a tighter UK housing market as it posted a 9.3 per cent rise in annual pre-tax profit. JIM STANTON, BUSINESS EDITOR, The Scotsman – 26 September 2007 Barratt, which has a number of developments across Edinburgh and the Lothians, said the series of five interest rate rises since August [...]
September 26, 2007 on 5:42 pm | In News | No Comments
Residential landlords have sheltered themselves from rising interest rates and higher borrowing costs by reducing the gearing on their portfolios, research from specialist buy-to-let lender Paragon has revealed. AWD MoneyExtra The average landlords’ portfolio gearing – the proportion of borrowing to the level of equity in the portfolio – has fallen from 48% in 2002, [...]
September 25, 2007 on 9:27 am | In News | No Comments
If a major property auction held in London this week is anything to go by, a dreadful story is about to unfold that could engulf the bonanza that was Britain’s new-build buy-to-let sector. CityWire, Richard Lander – Friday 21 September 2007 The auction, organised by Barnard Marcus and held in the plush Café Royal on [...]
September 25, 2007 on 8:53 am | In News | No Comments
Markets face difficult period ahead, Credit difficulties likely to have broader economic effects, Market framework needs strengthening. IMF Survey Magazine – September 24, 2007 Markets are likely to go through a protracted adjustment period following recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market, according to the IMF’s latest Global Financial [...]
September 25, 2007 on 8:47 am | In News | No Comments
The International Monetary Fund has warned that Britain’s sub-prime mortgage system is comparable to the United States, sparking fears about the stability of the housing market, according to a report in the Daily Telegraph which cited the IMF. Interactive Investor – (AFX UK Focus) 2007-09-25 06:56 GMT: The report said the Washington-based institution singled out [...]
September 25, 2007 on 8:41 am | In News | No Comments
It’s been a rollercoaster week for investors, but the property market should survive the credit crunch. The Northern Rock crisis has dented confidence in the housing market but most analysts still predict a soft landing rather than a crash. Graham Norwood, Daily Mail – 21 September 2007 HOUSE PRICE CRASH? UK property should avoid a [...]
September 25, 2007 on 8:31 am | In News | No Comments
Mortgage bank Abbey has been accused of fuelling the debt crisis by offering a home loan worth up to 125% of a property’s sale price – and many rivals seem willing to lend whatever the risks. Richard Dyson, Mail on Sunday – 23 September 2007 Richard Dyson reports how one buy-to-let investor has been ruined [...]
September 20, 2007 on 8:16 pm | In News | No Comments
IS THE Federal Reserve running scared of the financial markets—or the housing market? On Tuesday September 18th America’s central bank cut its target for the federal funds rate by half a point, to 4.75%, the first reduction for more than four years. Financial markets had thought a quarter-point cut a shade more likely, but prayed [...]
