Interest rates up 0.5%!

[Doucas]

Re: Interest rates up 0.5%!

Percentage of 16 - 34 year old that are homeowners

51% in 1991
24% in 2016

Salary as a percentage of average house prices
2000 - 2005 18%
2012 - 2017 12%

These are basic facts that cannot be denied. It is harder to buy a house now than it was in the past.

Source: https://www.moneysupermarket.com/mor...buyers-report/

[Nobody's Rep]

Re: Interest rates up 0.5%!

Well let's pass on Brexit - that's been done to death on here. I'm no expert on steel but haven't we been shelling out £millions for decades to keep production going ? I've done nothing to harm the environment any more than the 20-30yr olds today, and the economy ? Let's try and forget party politics if we can, but since 2000 we've had a really good couple of decades. Less of the MCG please !

You can't pass on brexit as it is has an impact on our ability to employ people in the foundation economy across the board and a huge impact on people movement

Our generation has been on the planet longer so of course we have had a bigger impact

I'm apolitical if you see my previous post as they are all wank3rs and self serving tosspots

Don't know what MCG is apart from the Melbourne cricket ground

[Claude Blue]

Re: Interest rates up 0.5%!

What I find fascinating with the tories on here is the weighting they place against various issues. So for example we have a £50 billion brexit bill to pay in addition to the £31 billion+ brexit is estimated to have cost in lost trade as of Q1 2021 (source - https://www.itv.com/news/2022-06-09/...research-finds) and probably a lot more on top of that, but this isn't a problem.

In addition the tories have added on around £1.4 TRILLION to the debt pile (the majority of this was before covid) via economically illiterate policies, this isn't a problem either.

But Gordon Brown cost us what, £10 billion 15 years ago and this is the problem! Incredible stuff.

The cost of this policy is estimated to be between £2bn and £7bn which is pennies when compared to the losses built up by the current government through fraud, downright incompetence and criminality. Track and trace anyone? Build back loans? Unusable PPE? Crony contracts for Tory mates, pub landlords, etc? I could go on but you get the picture.

But, as you say, it's somehow Labours fault for something that ended 20 years ago!

[The Bloop]

Re: Interest rates up 0.5%!

All the other stuff is minor, the primary driving factor behind house prices is demand created by population numbers. Everyone needs a house to live in you see. UK embraced mass immigration and now millenials can't afford a home and we have a housing crisis.
Japan reject mass immigration and their house prices remained the same since 1997, enabling the next generation of their own population a chance to buy. Why are you attempting mental gymnastics in order to deny the blinding obvious?

It's not just immigration that drives population growth. Tell the younger Japanese population to have more kids cos they've forgotten how to do that aswell.

[North Cardiff Blue]

Re: Interest rates up 0.5%!

No it isn't me, but I've been told on this forum I am a champagne socialist, I've also been told I'm just jealous. All I've said is I'm doing alright.

So for the fifth time, what is the exact amount of wealth I should have before I can complain about inequality.

Where did I say I couldn't buy a house? Is it harder to buy a house now than it was in the 70s, yes or no?

Not a champagne socialist then.

Doing alright what does that mean, it's subjective?

You appear jealous, you have a deluded view that older people had an easier life?

Any amount, it's a free Country?

You've said before it's too hard for you to get on the market, because all the old people grafted and bought them?

It's the same sales process as the 70's I think, just as easy go to a solicitor they do the paperwork for you, probably a bit easier these days actually because they can send some forms via the internet, we had to keep going to the solicitors office.

[North Cardiff Blue]

Re: Interest rates up 0.5%!

Percentage of 16 - 34 year old that are homeowners

51% in 1991
24% in 2016

Salary as a percentage of average house prices
2000 - 2005 18%
2012 - 2017 12%

These are basic facts that cannot be denied. It is harder to buy a house now than it was in the past.

Source: https://www.moneysupermarket.com/mor...buyers-report/

That just shows how many people own a house?

It could be that youngsters then left school, jot a job, saved some money, bought a house, and now youngsters prefer to piss it up in university rack up debt, go on a jolly around the World for 3 years, come back and go time to settle now lets by a house, oh dear I can't i've got no savings an average job, shed loads of debt, and it's all the torries fault.

[North Cardiff Blue]

Re: Interest rates up 0.5%!

Percentage of 16 - 34 year old that are homeowners

51% in 1991
24% in 2016

Salary as a percentage of average house prices
2000 - 2005 18%
2012 - 2017 12%

These are basic facts that cannot be denied. It is harder to buy a house now than it was in the past.

Source: https://www.moneysupermarket.com/mor...buyers-report/

Salary to house price is a stupid measure, the mortgage rate was much more then, now it's peanuts, but not for long, so house prices will reduce.

https://uk.finance.yahoo.com/news/property-uk-house-prices-halifax-063253579.html

UK average house price falls for the first time in a year to £293,221

[TWGL1]

Re: Interest rates up 0.5%!

Not a champagne socialist then.

Doing alright what does that mean, it's subjective?

You appear jealous, you have a deluded view that older people had an easier life?

Any amount, it's a free Country?

You've said before it's too hard for you to get on the market, because all the old people grafted and bought them?

It's the same sales process as the 70's I think, just as easy go to a solicitor they do the paperwork for you, probably a bit easier these days actually because they can send some forms via the internet, we had to keep going to the solicitors office.

Off topic slightly, when I was doing HNC business studies in night school, every Saturday I had to spend a few hours in central library researching topics for upcoming assignments.

Nowadays most reasonable research can be obtained from the comfort of your own home. Much easier IMHO

[delmbox]

Re: Interest rates up 0.5%!

That just shows how many people own a house?

It could be that youngsters then left school, jot a job, saved some money, bought a house, and now youngsters prefer to piss it up in university rack up debt, go on a jolly around the World for 3 years, come back and go time to settle now lets by a house, oh dear I can't i've got no savings an average job, shed loads of debt, and it's all the torries fault.

Name 3 young people that you know that been travelling round the world for 3 years

[SLUDGE FACTORY]

Re: Interest rates up 0.5%!

Name 3 young people that you know that been travelling round the world for 3 years

I ****ing hate tory students

[LeningradCowboy]

Re: Interest rates up 0.5%!

Salary to house price is a stupid measure, the mortgage rate was much more then, now it's peanuts, but not for long, so house prices will reduce.

https://uk.finance.yahoo.com/news/property-uk-house-prices-halifax-063253579.html

UK average house price falls for the first time in a year to £293,221

Okay boomer.

[The Bloop]

Re: Interest rates up 0.5%!

Name 3 young people that you know that been travelling round the world for 3 years

Greta Thunberg for one 🙂

[splott parker]

Re: Interest rates up 0.5%!

That just shows how many people own a house?

It could be that youngsters then left school, jot a job, saved some money, bought a house, and now youngsters prefer to piss it up in university rack up debt, go on a jolly around the World for 3 years, come back and go time to settle now lets by a house, oh dear I can't i've got no savings an average job, shed loads of debt, and it's all the torries fault.

Yeah the Torries a obviously a bunch of tw*ts but I’ve not heard much about them, on the other hand those Conservatives are a right tribe of shite.

[North Cardiff Blue]

Re: Interest rates up 0.5%!

Name 3 young people that you know that been travelling round the world for 3 years

My mates two boys, and my other mate’s daughter. It might be extreme but plenty go for a year or so, lots take a year out too.

[goats]

Re: Interest rates up 0.5%!

Name 3 young people that you know that been travelling round the world for 3 years

I know quite a few, but I know quite a few hippy like people. Most worked though, like 7/8 months here then go to India for 4 months and live for peanuts all winter. I took a grand with me when I went to India, lasted me 2 months. When I was 19 I went off to Oz etc for 18 months but worked a lot, came home with about £4K saved which was enough to put a deposit down on a flat….
One big difference is the amount of debt most students rack up, back in 1990 ish most I knew had no real debts, some even had grants, not loans. Nowadays £50k is average isn’t it? That’s not a great way to start out is it…..