Investment & Business News Headlines

House prices fall 4 per cent from peak, has the crash begun?

Strap yourself in. This is not going to be pretty.

House prices are now 4 per cent down from October last year, according to data from the Nationwide.  But that is just the beginning. Yesterday also saw the news that one of the leading players in the buy-to-let market has gone into administration, while a report from the Bank of England revealed that mortgage approvals have fallen to a record low.Hometrack also revealed an annual fall in house prices recently.But the real fireworks came from a member of the Bank...Read More

US slide hits slippery patch

Meanwhile, in an  economy far, far away, and in an economic cycle about 12 months ahead of us, consumer confidence continues its fall off the edge of a cliff, and a leading index for tracking the housing market fell by 14 per cent from peak.

There are several consumer confidence indices...Read More

Posted Apr 30, 2008

chart of the day

house prices

Posted Apr 30, 2008

US slide hits slippery patch

Meanwhile, in an  economy far, far away, and in an economic cycle about 12 months ahead of us, consumer confidence continues its fall off the edge of a cliff, and a leading index for tracking the housing market fell by 14 per cent from peak.

There are several consumer confidence indices...Read More

Posted Apr 30, 2008

chart of the day

house prices

Posted Apr 30, 2008

Chart of the day

oil

Posted Apr 29, 2008

Negative equity fears overblown or are they?

According to a report in the FT over the weekend, if house prices fell by 10 per cent, then actually only 2.8 per cent of houseowners would fall into negative equity.  Even if prices fell by 15 per cent, just 5 per cent of owners or 0....Read More

Posted Apr 29, 2008

Bush fires the big gun and says cheque is in the post

Later this week when Mr and Mrs America get home from work there will be a nice surprise sitting on the doorstep: a nice big juicy cheque for $1,200 for them to spend as they like, courtesy of the US government. This is the big one, all the other measures taken...Read More

Posted Apr 28, 2008

One-in-three chances of UK recession

Unless you have been living on Mars, you will know the last few months have been a bit tricky.  But how bad was it really?  Now the first version of the official statistics are out. And this is what they say.

The UK grew by 0.4 per cent in the first...Read More

Posted Apr 28, 2008

The return of the Mortgage King

Gordon often likes to quote Alan Greenspan.  If you are actually able to stay awake long enough to listen to our Gordon, you will hear him saying things like, Alan Greenspan says,Alan Greenspan agrees with this,Alan this,  Alan thatand three bags full Alan.

But actually, the two men did differ in...Read More

Posted Apr 28, 2008

HBOS prepares its answer to week of rumours

In times like these, rumours and counter-rumours are the staple currency.  Sometimes rumours take on a momentum of their own, even when they don’t appear to be based on any kind of truth.

This is a key week for HBOS.  It seems that the bank may well be announcing big...Read More

Posted Apr 28, 2008

King vents his wrath on the banks

All change please.

Not so long ago, banks were dynamic places of high risk but high reward. 

Shareholders liked their banks when they were full of “innovative, exciting activities.  Those which adopted a more cautious approach were “often pilloried for being boring.“  Who said so, why none other than Mervyn King, yesterday,...Read More

Posted Apr 30, 2008

King vents his wrath on the banks

All change please.

Not so long ago, banks were dynamic places of high risk but high reward. 

Shareholders liked their banks when they were full of “innovative, exciting activities.  Those which adopted a more cautious approach were “often pilloried for being boring.“  Who said so, why none other than Mervyn King, yesterday,...Read More

Posted Apr 30, 2008

House prices fall 4 per cent from peak, has the crash begun?

Strap yourself in. This is not going to be pretty.

House prices are now 4 per cent down from October last year, according to data from the Nationwide.  But that is just the beginning. Yesterday also saw the news that one of the leading players in the buy-to-let market has...Read More

Posted Apr 30, 2008

Is oil the new gold, or just plastic money?

Earlier this year we reported on comments made by an Indian minister that he thought oil could hit $150 a barrel this year.

At the time he seemed to be over-exaggerating the danger but with oil closing in on $120 a barrel last week  that unthinkable level suddenly feels, well,...Read More

Posted Apr 29, 2008

Is oil the new gold, or just plastic money?

Earlier this year we reported on comments made by an Indian minister that he thought oil could hit $150 a barrel this year.

At the time he seemed to be over-exaggerating the danger but with oil closing in on $120 a barrel last week  that unthinkable level suddenly feels, well,...Read More

Posted Apr 29, 2008

Nationwide drops 95 per cent mortgages

This is why we have business cycles.

The Nationwide, who for so long talked up house prices, has doubled the size of the deposit required from mortgage applicants to 10 per cent of a property’s value.

Meanwhile, Abbey is now only to offer interest-only mortgages for loans of less than 50 per cent...Read More

Posted Apr 29, 2008

But why can’t the UK repeat Dubya’s trick

But is the UK government really so powerless?

In the US, $160bn is winging its way to households, and George Dubya said the government “recognised the signs early and took action.”     Even so, many fear the action taken could be too late.

If, on the other hand, you believe the UK...Read More

Posted Apr 28, 2008

"They don't believe it" – High Street boomed in first quarter, says official data

What a miserable lot economists are.   They wait for good news, and when it finally comes along, they turn their noses up and say, “the statistics are probably wrong, anyway.”

Yesterday, the Office for National Statistics, which by the way is now independent, and has launched a new web site but which is totally un-navigable, released...Read More

Posted Apr 25, 2008

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