i think that once berney whistles today and the ecb raises again with the 'promise' of at least one more rise this yr then we might just get a down reaction that lasts. common sense has literally gone out of the window. too long to go into here but spanish kids are asking me why prices are so high for just small apartments. i don't speak spanish fluently by any means but enough to oversee a bit of help at the banks for folks raising loans. what i'm getting away with is just stupid. the checks are non existent on the borrower.
it has to end.
personally, with 87% liquidity i feel a bit easier.
i cannot see rates coming off just to save this crazy lending when the effect is really banged home.
recession, with no help from the boe, rba, fed or ecb. is the way i see it.
there are going to be a lot of families crying once we get trouble. no one can help them or the whole crazy lending boom will reignite.
busting it slowly, is at best, the only way. i fear it will be much worse however.
taken my lil pad off the market here. no punters at all. spent Sunday with an estate agent friend.
