Middle England to see £40,000 house price fall
Homeowners in Middle England could see house prices fall by as much as £40,000 before the end of the year, new research suggests.According to figures from Axa, property in Middle England may drop by 18.3 per cent before Christmas as a result of the current economic downturn.Across all demographics, the company predicts a house price fall of 12.9 per cent by 2009, with negative equity a possibility for some homeowners.Increases in the cost of living and higher mortgage rates will make it difficult for consumers to meet repayments. Nine per cent of homeowners are expected to miss mortgage payments over the next 12 months.Steve Folkard from the AXA Financial Taskforce, explained: "We expect a very tough 18 months for Middle Britain's housing market. "Middle Britain may have managed to weather the storm before now, but that resilience is being seriously tested by the ongoing effects of the credit crunch."
Moody's confirms big four Triple-A ratings
Credit rating giant Moody's has today confirmed the Triple-A ratings for the UK, the US, France and Germany and while it has concluded that the risk of downgrades has increased over the last few months, it is unlikely the countries in question will lose their Triple-A ratings. There is no doubt that the increase in national debt, and the increase in budget deficits, between the big four is conc...Read More
Is it safe to call the bottom of the oil market?
As the price of oil continues to hover over the $100 a barrel level there is a growing thought that it is only a matter of time before it crashes through $100 and down to much lower levels. While this event could be delayed because of short term concerns about the hurricane season in the US and the oncoming winter months, there is a feeling that the price of oil will weaken further. This now beg...Read More
Are we worrying too much about a double dip recession?
Only a few months ago the UK economy seemed very much back on track and looking towards the future but today we stand on the verge of potentially talking ourselves into a double dip recession. Indeed, the European economy is in a very similar situation with many economists talking about a double dip recession despite the fact that economies are still growing in Europe and economic output would not...Read More
Tesco announces disappointing update
While Tesco has for many years been the leading retailer in the UK, today's third-quarter update was at the bottom end of analyst's forecasts and appears to show that growth in sales has started to slow again. There had been hopes of a more positive update on the third-quarter after a number of positive signs over the last few weeks. So where does this leave Tesco in the short to medium term? E...Read More
Is bankruptcy a real option for the New Year?
New Year is traditionally a time when consumers around the world check their finances, make plans for the next twelve months and try to get their affairs into shape. This New Year could be the time when many consumers in the UK, and other parts of the world, wake up to the fact that times are hard, debts are rising and many will not be able to cover their outgoings in the early part of 2009 at le...Read More