Exact(3)
He added: "More stretched house prices to earnings ratios, the prospect that interest rates will start to rise before long (albeit gradually) and tighter checking of prospective mortgage borrowers by lenders will likely have some limiting impact on buyer interest".
He added that this will be constrained by a more stretched house prices to earnings ratios, tighter checking of prospective mortgage borrowers by lenders and the knowledge that interest rates will eventually start rising.
Howard Archer, chief economist at IHS Global Insight, said: "Stretched house prices to earnings ratios, the prospect that interest rates will start to rise before long and tighter checking of prospective mortgage borrowers by lenders will likely have some limiting impact on buyer interest.
Similar(57)
However, housing market activity and prices would come under pressure from stretched house-price-to-earnings ratios, and tighter checking of prospective mortgage borrowers by lenders.
"Ongoing very tight credit conditions, still relatively stretched housing affordability on a number of measures, recession, faster rising unemployment and widespread expectations that house prices are likely to fall a lot further, form a powerful set of negative factors weighing down on the housing market".
The neighborhood had become expensive thanks in part to "regeneration" of the area around the Olympics, so moving people out of their own city seemed like the most cost-effective, if heartless, option for the stretched housing budget.
It's a politically popular arrangement, and the lure of paying a bit less to the government has been an incentive to stretch housing budgets up to, or past, the limit.
This is especially the case with four-seat convertibles, where the area between the back seat and the rear wheels is stretched to house the folded roof, resulting in proportions that recall a hyperextended Slinky.
The lack of affordable housing, the report notes, leads to social problems including poorer health, lower school performance and higher unemployment.McKinsey estimates that 330m households occupy unsafe and inadequate housing, or are financially stretched by housing costs.
It stretched from Mansion House in the City, past St Paul's, along Fleet Street and the Strand to Trafalgar Square and under Admiralty Arch up to the Queen's London residence.
Over very long stretches house prices more than keep up with the cost of living.
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