What is worse than a 3x cap on borrowing? The FSA of course

Sir_Humphrey

michaels wrote: »

Some would argue a 3x salary cap on borrowing is a good idea

Others would say the proportion of income that someone spends on housing is their business not the states

If they blow up the banks and cause a major financial crisis, what people borrow is very much the State's business.

JayScottGreenspan

econo wrote: »

Maybe some people just want to get on with living their lives and feel prices are maybe not at rock bottom but are still at a more realistic level they can afford?

This sentiment has been expressed to me a fair few times in the last month and some people really just want to move. They are not all just wishing to sit on the sidelines feeling downright depressed about everything and powerless to change 99% of it anyway!

Learning to live is sometimes as important as looking back and saying 'wow I really picked that one right I got it another 5% lower than the guy down the road a year later'....................................

Err... house are quite expensive, and possible the decision to buy and how much to pay merits a little thought.

It seems that most people completely forget the value of money when they buy a house. Suddenly five grand more or less is nothing.
Not very MSE!
:money: