UK Economics Focus MEW won’t prevent a household spending slowdown Conventional wisdom has it that mortgage equity withdrawal (MEW), which rose to a record high in the fourth quarter of last year, has provided a strong boost to household spending and will continue to... 26th April 2004 · 1 min read
UK Economics Focus The return of negative equity With the threat of falling house prices around the corner, the question inevitably arises of whether we are about to see a return of the widespread negative equity of the 1990s, when thousands of... 20th November 2003 · 1 min read
US Housing Market Focus Mortgage refinancing in the US: the boom is over The continued strength of consumer spending in the US over the past two years, despite a recession and big stockmarket losses, is principally due to the boom in mortgage refinancing, caused by low... 2nd December 2002 · 1 min read
UK Economics Focus Housing forms a major barrier to UK adoption of the euro Structural differences between the UK and continental European housing markets are a major barrier to Britain adopting the euro. Because of the large proportion of variable-rate mortgages in the UK... 26th July 2002 · 1 min read
UK Economics Focus The house price earnings ratio is a good measure of housing valuations – and it is signalling danger. We have long argued that houses are over-valued, based on evidence from the house-price earnings ratio (HPE). But some commentators argue that the HPE is no longer a credible leading indicator of... 20th June 2002 · 1 min read
UK Economics Focus House prices – the alarm bells are ringing House prices are currently rising by between 14% and 16% a year, giving rise to fears of a looming crash. A key indicator of whether or not house prices are sustainable is their relationship to... 12th April 2002 · 1 min read
UK Economics Focus Have Houses Been a Good Buy? The recent burst of rapid house price inflation has reinforced the perception that investing in housing is a sure-fire winner. Historically, though, the notion of dramatic increases in personal wealth... 31st October 2001 · 1 min read
UK Economic Outlook The Englishman's Home is His Castle - But are the Foundations Stable? (Q3 00) Sharp swings in the housing market have become an accepted characteristic of the UK economy over the past 30 years. Indeed, so pronounced have the swings in the housing market been that they have... 27th June 2000 · 1 min read
