Posts tagged as economics

24 Mar 2007

Drowning in debt: can it be true?

Like the angler who drowned in a river with an average depth of 4 inches, debt problems arise at the margin, not the mean. The strength of personal balance sheets is widely dispersed in the UK, ranging from households with large holdings of unencumbered property and richly-priced financial assets to households with little hope of surviving further interest rate increases or interruption to earnings.

read more Commentary by Stuart Fowler
26 Oct 2006

Market commentary

In January we posted a copy of the quarterly market commentary sent to wealth management clients of No Monkey Business Limited. We repeat the exercise here. The focus is on the risks facing financial markets in the late stages of an unusually long expansionary phase of the business cycle

read more Commentary by Stuart Fowler
21 Jan 2006

Forecasting the economy: joining in the seasonal folly

No Monkey Business Limited, my financial planning and wealth management firm, starts any client relationship with an Initial Review: a highly detailed ‘money makeover’. In the spirit of the new year, our client reports at the end of 2005 included an account of one such review to make some points about the future path of the global economy. Our subject is a powerful business leader on the international stage. For discretion’s sake, we shall call him Sam…

read more Commentary by Stuart Fowler
23 Apr 2005

Affordable mortgages for key workers

Stability Brown has come up with a new tweak for a market that’s misbehaving. It seems that in 9 out of 10 major cities key public sector workers can’t afford to buy homes. His big idea is to encourage lenders to provide shared mortgages with the Government (us, actually) underwriting part of the equity risk.

read more Commentary by Stuart Fowler
07 Mar 2005

What parents tell the children about property

Parents have instilled in their children the desire to get onto the property ladder, not just as a lifestyle choice but as a way to avoid permanent loss of possible wealth. But the expected economic rewards of home ownership are misunderstood by most parents, biased by the experience of their generation. Tell most people what the long term trend of house prices has been ‘in real terms’, after stripping away the illusion of general inflation, and they will stare at you in disbelief. But unless you believe the real trend of growth will be above the real cost of mortgage debt, there will be a high financial price and loss of flexibility on that ladder. Lifestyle benefits may make it worth a high price but, like work/play or pay/satisfaction choices, that’s for kids to decide.

read more Commentary by Stuart Fowler
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