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Thread: Interest rates up 0.5%!

  1. #161

    Re: Interest rates up 0.5%!

    Quote Originally Posted by goats View Post
    Yes and Caerphilly centre too, yet they voted leave without a clue who paid for it as seen on sky news at the time….
    I spent 8 years driving all over Europe. Every few miles there were signs saying the development was supported with finance from the ERDF. So Blaenau Gwent, Merthyr et al were not the only beneficiaries of European money. However, the money was not European money; it was partly ours. The system worked like this: The Government contributed into the ERDF each year but received far less back from the EU for ERDF projects. Decisions on allocations were made by the EU in consultation with Member States.

    All I know is that the roads and rail links in Europe are far better than those in the UK. It seemed to me that we were getting short changed and when I went to one of the rail tunnel openings (in Benicassim on the main rail link between Valencia and Barcelona) the Mayor welcomed those of us from the UK and jokingly thanked us for our generous contribution..

  2. #162

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Doucas was saying Brexit was the governments fault, I explained no it's the voters which is correct.
    Who are these Torries that you keep mentioning? Are they involved anywhere

  3. #163

    Re: Interest rates up 0.5%!

    Quote Originally Posted by A Quiet Monkfish View Post
    I've just checked on Rightmove the sale price [March 2022] of my 1st house. I bought it in 1976 for £18,000. It sold for £183,000. Pretty much average for those around it, too. That's a 10 fold increase. The average wage in 1976 was £3,750. The average salary in the UK in 2022 is £31,500. That equats to 8.4 times increase. Now imagine a mortgage today with 10-11% interest rates, because that's what we were paying - bank rate was close to 9%.

    You can convince yourself that the world's against you - and listening to the doomongers doesn't help, but believe me, it's far, far, easier to buy a house now than it ever was..
    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/in...nal-inflation/

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

  4. #164
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    Re: Interest rates up 0.5%!

    Quote Originally Posted by Lither_1927 View Post
    Well, we in Britain have one of the highest standards of living in the world. That's *all* not the few. Britain is well off due to capitalism is it not?
    Isn't it all due to 'mass migration'? More economically active, tax paying citizens. Lovely!

  5. #165

    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 .

  6. #166

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    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/in...nal-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..

  7. #167

    Re: Interest rates up 0.5%!

    Quote Originally Posted by jon1959 View Post
    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 ....

  8. #168

    Re: Interest rates up 0.5%!

    Quote Originally Posted by SLUDGE FACTORY View Post
    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..

  9. #169

    Re: Interest rates up 0.5%!

    Quote Originally Posted by A Quiet Monkfish View Post
    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?

  10. #170

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    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.

  11. #171

    Re: Interest rates up 0.5%!

    Quote Originally Posted by jon1959 View Post
    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.

  12. #172

    Re: Interest rates up 0.5%!

    Quote Originally Posted by SLUDGE FACTORY View Post
    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"

  13. #173

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Lither_1927 View Post
    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.

  14. #174

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    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 youíre not a liar youíre 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 whatís called negative equity, things were tough, much harder than my parents had it, but I wasnít 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 thatís 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.

  15. #175

    Re: Interest rates up 0.5%!

    Quote Originally Posted by SLUDGE FACTORY View Post
    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.

  16. #176

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Some people are like a 1970's telly you must keep smacking them before they see the picture!

    And you said youíre not a liar youíre 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 whatís called negative equity, things were tough, much harder than my parents had it, but I wasnít 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 thatís 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.

  17. #177

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Some people are like a 1970's telly you must keep smacking them before they see the picture!

    And you said youíre not a liar youíre 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 whatís called negative equity, things were tough, much harder than my parents had it, but I wasnít 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 thatís 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.

  18. #178

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    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..

  19. #179

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post

    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

  20. #180

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    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 itís not easy, but it never was, just work hard and youíll get there eventually.

    Iím no Boomer, born later than 64, so does that mean Iíve 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 youíre having a tough time

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