999tigger Posted February 4, 2016 Share Posted February 4, 2016 The Bank of England has again expressed concern about the UK's buy-to-let property market. The Bank's governor, Mark Carney, said he was concerned about high levels of lending to landlords and that the Bank would take action. 16 December 2015, BBC I heard a news item the other week, MPs blaming Carney for the housing market fiasco; the lines of who to blame is getting very blurred. Care to explain what it is you are complaining about and what it is you think he can do? What Obelix said earlier on the thread. Link to comment Share on other sites More sharing options...
Blackbeard Posted February 4, 2016 Share Posted February 4, 2016 And Corbyn wants more of them. But they are not as expensive as this one. Link to comment Share on other sites More sharing options...
Obelix Posted February 4, 2016 Share Posted February 4, 2016 The Bank of England has again expressed concern about the UK's buy-to-let property market. The Bank's governor, Mark Carney, said he was concerned about high levels of lending to landlords and that the Bank would take action. 16 December 2015, BBC I heard a news item the other week, MPs blaming Carney for the housing market fiasco; the lines of who to blame is getting very blurred. As post #6. What do you think he does and what do you think he can do (not should) Link to comment Share on other sites More sharing options...
El Cid Posted February 4, 2016 Author Share Posted February 4, 2016 What do you think he does and what do you think he can do (not should) He should increase interest rates. I begrudgingly accept the Tories have started to do with change to Buy To Let tax allowances. A long way to go though. Interest rates won't affect cash buyers who are often the ones who own BTL in the first place. They have had six years, and failed. ---------- Post added 04-02-2016 at 18:10 ---------- Carney doesn't control the housing market. He controls the interest rates. If he puts interest rates up then people will save more and we risk deflation. People saving more, or at least stop more borrowing, isnt that what we want? Link to comment Share on other sites More sharing options...
999tigger Posted February 4, 2016 Share Posted February 4, 2016 He should increase interest rates. They have had six years, and failed. ---------- Post added 04-02-2016 at 18:10 ---------- People saving more, or at least stop more borrowing, isnt that what we want? No we dont want people saving more, we want sustainable growth and economic activity to create jobs and more profitable business to increase tax revenue. Link to comment Share on other sites More sharing options...
sgtkate Posted February 4, 2016 Share Posted February 4, 2016 No we dont want people saving more, we want sustainable growth and economic activity to create jobs and more profitable business to increase tax revenue. Yeah, that. ^ For now we don't want people tying money up in savings, it needs to be spent to help bolster the UK economy. The problem is that then we risk people getting in debt they cannot repay once rates do start going back up. Economics isn't for the faint hearted. If it was easy it'd just be, but it's pretty much like juggling running chainsaws blindfolded while bystanders poke you in the ribs. Link to comment Share on other sites More sharing options...
El Cid Posted February 4, 2016 Author Share Posted February 4, 2016 The problem is that then we risk people getting in debt they cannot repay once rates do start going back up. Economics isn't for the faint hearted. Do you think more debt, that they can repay is a good thing? Havnt we got too much debt, as a country? Link to comment Share on other sites More sharing options...
Obelix Posted February 5, 2016 Share Posted February 5, 2016 He should increase interest rates. They have had six years, and failed. ---------- Post added 04-02-2016 at 18:10 ---------- People saving more, or at least stop more borrowing, isnt that what we want? No. That reduces circulation of money and reduces growth. And before you talk about how Labour would have borrowed to spend out of the recession, increasing the circulation of money is not the same as increasing the supply of money. ---------- Post added 05-02-2016 at 00:13 ---------- Do you think more debt, that they can repay is a good thing? Havnt we got too much debt, as a country? Whose talking about debt? If you are saving money as you said you dont have debt (if you are saving money whilst having debts, all you are actually doing is repaying debt really..) ---------- Post added 05-02-2016 at 00:15 ---------- Economics isn't for the faint hearted. If it was easy it'd just be, but it's pretty much like juggling running chainsaws blindfolded while bystanders poke you in the ribs. That's a well considered description. Can I just tag a bit on the end... "....and Waldorf and Statler give equally well meaning, sincere and contradictory advice through a megaphone" Link to comment Share on other sites More sharing options...
El Cid Posted February 5, 2016 Author Share Posted February 5, 2016 No. That reduces circulation of money and reduces growth. So the aim is for growth decade after decade? Is that an aim that has ever happened in reality? Link to comment Share on other sites More sharing options...
Mikes10 Posted February 5, 2016 Share Posted February 5, 2016 There are others on the 'gravy train' HS2 is to get a new chief exec with a salary of £750,000 http://www.bbc.co.uk/news/uk-politics-25905479 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now