Interest rates up 0.5%!

[A Quiet Monkfish]

Re: Interest rates up 0.5%!

But £18,000 wasn't the average house price in 1976, it was about £11,500. So by your own figures that's 4x the average wage.

You say the average wage is £31,500 which is probably about right (although median wage would be better) but the average house price in the UK is now £290,000 which is about 9-10x that figure. Most mortgage providers will only loan up to 4x your salary now, are you starting to see the gigantic problem yet?

We have a generation of older people who despite no matter how many facts you're shown you will refuse to see how bad things are at the moment. Which is why things keep getting worse because you've got your heads in the sand and keep voting for this.

This shouldn't even need to be a discussion, it's like asking if the sky is blue.

And before I hear the 'you're just jealous' I am a homeowner.

Sources:

https://www.housepricecrash.co.uk/indices-nationwide-national-inflation/

https://www.theguardian.com/business...starts-to-cool

Good for you. A 0.5% hike isn't going to hurt you - we were getting hikes of 2 and 3%.

The 2 sites you linked, well. The Guardian is the portent of doom and despair, and the other one has been predicting the crash of house prices for 20 odd years. We ain't all going to burn, starve, freeze. Just enjoy life, and stop reading all the depressing sh*t..

[SLUDGE FACTORY]

Re: Interest rates up 0.5%!

Isn't it all due to 'mass migration'? More economically active, tax paying citizens. Lovely!

The NHS is crying out for nurses and doctors from Europe and elsewhere .

But some people don't like it and thank god we are back in control of our border and immigration .

They are not racist though ....

[A Quiet Monkfish]

Re: Interest rates up 0.5%!

We have been using quantitave easing and spending for a long time , it's created false demand . So thats going to have to stop or inflation becomes a runaway train . Even more so given the energy situation .

This government has failed to protect this country from a shitstorm and now its here its too late .

Truss talking about cutting tax to stimulate the economy is bollocks , she's a bullshitter just wanting the top job and she knows the blue rinse brigade and all the saps will elect her if she talks about their money .

It's 18 months at least of digging deep and as usual it's those at the bottom and middle who will get it .

It makes me laugh that the Tories play the game of financial management ��

This lot are the last people you want to be stuck in a toilet with .

Blimey, that's pretty good. Nothing I'd disagree with except the toilet bit..

[Doucas]

Re: Interest rates up 0.5%!

Good for you. A 0.5% hike isn't going to hurt you - we were getting hikes of 2 and 3%.

The 2 sites you linked, well. The Guardian is the portent of doom and despair, and the other one has been predicting the crash of house prices for 20 odd years. We ain't all going to burn, starve, freeze. Just enjoy life, and stop reading all the depressing sh*t..

So are you saying the sources are wrong? Were house prices on average in 1976 not £11,500? Are house prices on average today not £290,000?

[A Quiet Monkfish]

Re: Interest rates up 0.5%!

So are you saying the sources are wrong? Were house prices on average in 1976 not £11,500? Are house prices on average today not £290,000?

"average". It's a false way of calculating. The enormous cost of housing in London and other 'hot spots' has skewed those figures. You have to take like for like. A 3 bed semi in, say Danescourt now, and in 1976. This isn't the example I referred to previously, but I reckon there's been no more than a ten fold increase. Take a house in London area and they've probably gone up 20 fold. There are large areas of housing in the Valleys that probably haven't gone up more than 5 fold.

[Lither_1927]

Re: Interest rates up 0.5%!

Isn't it all due to 'mass migration'? More economically active, tax paying citizens. Lovely!

No jon, Japan has very low immigration and has a higher standard of living than us. We've always had a relatively high stadard of living, even before mass immigration. It's down to capitalism. Anyway, higher immigration means the "lower trust" a society reports. So if you want to live in a low trust society with low social cohesion you crack on. Sounds like hell to me.

[Lither_1927]

Re: Interest rates up 0.5%!

The NHS is crying out for nurses and doctors from Europe and elsewhere .

But some people don't like it and thank god we are back in control of our border and immigration .

They are not racist though ....

Aren't you glad that poorer European Dr's and Nurses are staying home and helping their own nation? or do you think "**** em our needs come first, we need Dr's"

[Lither_1927]

Re: Interest rates up 0.5%!

No jon, Japan has very low immigration and has a higher standard of living than us. We've always had a relatively high stadard of living, even before mass immigration. It's down to capitalism. Anyway, higher immigration means the "lower trust" a society reports. So if you want to live in a low trust society with low social cohesion you crack on. Sounds like hell to me.

A strong degree of the free market. That's what generates wealth.

[North Cardiff Blue]

Re: Interest rates up 0.5%!

Salary to house price is a stupid measure? This is the dumbest sentence I've read on all of CCMB ever. You clearly don't have a clue and I can't be arsed anymore.

Some people are like a 1970's telly you must keep smacking them before they see the picture!

And you said you’re not a liar you’re a clueless liar, read your own posts they are all dumb!

You've taken one sentence out of context I went on to say interest rates are another factor in house affordability in 1988 when I bought my first house interest rates were 9.8% and went up to 15.4%, by 1990, house prices went down a lot by the way, so us oldies had what’s called negative equity, things were tough, much harder than my parents had it, but I wasn’t on a Cardiff city club message board or equivalent crying about it.

Last year the rate I had on one property was 0.29% or 0.19% over the base rate (an old Woolwich now Barclays discounted rate from 2006).

So on a £100K mortgage in 1990 the interest payment alone was £15,400 per year, last year it was £290 per year.

Now I know house prices were less in 1990 but that’s to demonstrate to you how interest rates are the main factor in property ownership affordability.

Many people who are older than you have told you this many times on this thread alone, but you refuse to believe people who have actual life experience and are not getting their information from socialist websites.

[TWGL1]

Re: Interest rates up 0.5%!

The NHS is crying out for nurses and doctors from Europe and elsewhere .

But some people don't like it and thank god we are back in control of our border and immigration .

They are not racist though ....

How much money do the NHS need ?

UK’s post Brexit EU “divorce bill” reaches €50 billion, confirms Treasury... up from €40-45bn...The NHS burns that in three months.

[Doucas]

Re: Interest rates up 0.5%!

Some people are like a 1970's telly you must keep smacking them before they see the picture!

And you said you’re not a liar you’re a clueless liar, read your own posts they are all dumb!

You've taken one sentence out of context I went on to say interest rates are another factor in house affordability in 1988 when I bought my first house interest rates were 9.8% and went up to 15.4%, by 1990, house prices went down a lot by the way, so us oldies had what’s called negative equity, things were tough, much harder than my parents had it, but I wasn’t on a Cardiff city club message board or equivalent crying about it.

Last year the rate I had on one property was 0.29% or 0.19% over the base rate (an old Woolwich now Barclays discounted rate from 2006).

So on a £100K mortgage in 1990 the interest payment alone was £15,400 per year, last year it was £290 per year.

Now I know house prices were less in 1990 but that’s to demonstrate to you how interest rates are the main factor in property ownership affordability.

Many people who are older than you have told you this many times on this thread alone, but you refuse to believe people who have actual life experience and are not getting their information from socialist websites.

You are in utter denial, wealth amongst young people has plummeted as has property ownership.

You literally own multiple properties and you're telling us how hard it was.

You're the typical boomer, no clue unless the daily mail has told you some buzzwords to say today. Your demographic is the reason there are so so many problems in the UK and you will go down as the most selfish pig ignorant generation in history.

[Doucas]

Re: Interest rates up 0.5%!

Some people are like a 1970's telly you must keep smacking them before they see the picture!

And you said you’re not a liar you’re a clueless liar, read your own posts they are all dumb!

You've taken one sentence out of context I went on to say interest rates are another factor in house affordability in 1988 when I bought my first house interest rates were 9.8% and went up to 15.4%, by 1990, house prices went down a lot by the way, so us oldies had what’s called negative equity, things were tough, much harder than my parents had it, but I wasn’t on a Cardiff city club message board or equivalent crying about it.

Last year the rate I had on one property was 0.29% or 0.19% over the base rate (an old Woolwich now Barclays discounted rate from 2006).

So on a £100K mortgage in 1990 the interest payment alone was £15,400 per year, last year it was £290 per year.

Now I know house prices were less in 1990 but that’s to demonstrate to you how interest rates are the main factor in property ownership affordability.

Many people who are older than you have told you this many times on this thread alone, but you refuse to believe people who have actual life experience and are not getting their information from socialist websites.

Forgot to add on, you say £100,000.. you bought your your first property for £18,000 in 1976!! £8000 above average prices then and are telling us how so so hard it was.

You can't admit basic facts, you're a typical tory brexiter, I can't be arsed with you now. Bye.

[A Quiet Monkfish]

Re: Interest rates up 0.5%!

You are in utter denial, wealth amongst young people has plummeted as has property ownership.

You literally own multiple properties and you're telling us how hard it was.

You're the typical boomer, no clue unless the daily mail has told you some buzzwords to say today. Your demographic is the reason there are so so many problems in the UK and you will go down as the most selfish pig ignorant generation in history.

A good night's kip seems to have worked it's magic, I see..

[blue matt]

Re: Interest rates up 0.5%!

You're the typical boomer, no clue unless the daily mail has told you some buzzwords to say today. Your demographic is the reason there are so so many problems in the UK and you will go down as the most selfish pig ignorant generation in history.

have you thought about taking up a hobby you enjoy ? get out of the house, maybe some fresh air, it might help

[North Cardiff Blue]

Re: Interest rates up 0.5%!

You are in utter denial, wealth amongst young people has plummeted as has property ownership.

You literally own multiple properties and you're telling us how hard it was.

You're the typical boomer, no clue unless the daily mail has told you some buzzwords to say today. Your demographic is the reason there are so so many problems in the UK and you will go down as the most selfish pig ignorant generation in history.

So I proved the affordability based on interest rates, makes a significant difference, various people have explained why your generation aren't all on the housing market, because some of you prioritise travelling, and leisure over hard graft sacrificing and saving. Yes it’s not easy, but it never was, just work hard and you’ll get there eventually.

I’m no Boomer, born later than 64, so does that mean I’ve had it tough then?

As my old boss told me many years ago, don't moan just get on with it, because half the people you moan to don't care, and the other half are glad you’re having a tough time