UK House Prices -The next bubble waiting to burst ??
chancer - Thu, 22 Dec 05 :
Jon C
Nice to see that others do trawl these threads and pick up on some interesting statements. Not sure how to perceive the follow up but can confirm the greed of the so called Estate Agents acting on behalf of their clients and further trying to increase the money flowing into the property markets , even though the fundamentals do not match the criteria.
Another piece of research that may be of interest to bears or bulls in this property market is that 12 months ago I was offered ( by a Major lender ) 6 times my income towards a mortgage.
Following a more recent visit to the same branch, it has now been reduced to the equivalent of 3.5 my earnings. They have stated that they now have changed criteria but did not clarify when I stated that since 12 months ago, properties have vastly increased in prices.
Untill the propaganda of rising prices is exposed to the media and everyones eyes fully opened to what is really happening, then maybe reality shall return to economics.
