Among other things, it turned out that incorrect information about the financial position of the applicant had been used on a large scale. If such investments are no longer considered attractive, this will lead to a sharp drop in demand for suitable homes. This had led to a strong demand for housing in that region, which had pushed house prices up sharply. A decrease in the amount of money withdrawn is referred to as "deleveraging", which can be caused by both a reduced availability of credit and a decrease in the demand for credit. Since the beginning of the credit crisis, the amount of outstanding mortgage credit has stabilized in the US, followed by a certain decline. The development of the total amount of consumer credit (particularly car loans and credit cards) also showed a stabilization from the end of 2008, after years of steady growth, followed later by a clear decline. From about the end of 2008, however, there appeared to be a turnaround in this process: the total number of outstanding loans increased less and sometimes even decreased. In Canada, whose economy is highly dependent on exports to the United States, house price growth came to a halt from the beginning of 2008.
However, the effect on the real economy can be very negative. No comparable figures are available for other countries and regions, but on the basis of a comparison of figures for sub-areas it can be assumed that this phenomenon has also occurred elsewhere, possibly to a lesser extent. The developments described above also occurred, to a lesser extent, in housing and mortgage markets elsewhere. On the other hand, mortgage advisers and intermediaries were also responsible for providing incorrect information in order to achieve higher mortgage production and therefore premiums. Players included: Harry Cripps, Dennis Burnett, Derek Possee, Barry Kitchener, Eamon Dunphy, Keith Weller, Doug Allder, Alan Dorney and Bryan King. During the 2011/12 season, several players have already been signed for this season. The selection is supplemented at matches with reserve players from the first team and players from the football academy. They therefore had a great interest in a timely sale. It is also important here that the majority of British mortgages have an interest rate that is linked to the money market interest rate, so that interest rate changes by the Bank of England (the British central bank) have an immediate effect on the level of the mortgage interest rate.
Due to the fairly low "entry rate" it was possible to borrow considerable amounts, but the house had to be sold before the "normal" interest rate would start. A fourth factor was formed by deregulation (abolition of regulations) and failing supervision of the application of the regulations that were still in force. A second factor was that house prices reached such a level that they became unaffordable for ever larger groups of house buyers. Thank you Joël for the nice morning, the delicious coffee, showing us Naples. In 2007, De Leeuw presented the hundredth episode of Zomergasten for VPRO. In the Netherlands, house prices rose steadily until around mid-2007, before leveling off somewhat in the fourth quarter of 2007. From the beginning of 2007, mortgage banks tightened their lending conditions, which meant that obtaining new and replacement mortgages became increasingly difficult and expensive. The consequence of this process was that the contraction of the economy that had already started was not diminished in any case. The result was that more and more parties in the economy borrowed and lent (relatively) larger and larger amounts, and that, seen across the breadth of the economy, there was an increasing amount of "leverage": the phenomenon that, given a certain " equity" means ever-increasing amounts of borrowed money on the one hand, and receivables (money lent) and other assets on the other.