Low Interest rates

mewbie_2

chucky wrote: »

oh i did..


so i'm still waiting for that "mother of all Xmas hangovers"

Either you are a brilliant wind up merchant, or just thick. My money's on a bit of both.

I was going to type an explanation, but of course its pointless. Either you really don't understand, or want to understand. Either way it's a waste of time.

chucky

mewbie wrote: »

Either you are a brilliant wind up merchant, or just thick. My money's on a bit of both.

I was going to type an explanation, but of course its pointless. Either you really don't understand, or want to understand. Either way it's a waste of time.

why don't you type in the explanation because you're either looking for an argument (again) or don't have that answer?

i'm not looking to argue - you're the only one wanting to do that.

can you tell me where or when the "mother of all Xmas hangovers" has happened? we haven't had huge amounts of credit card defaults, huge amount of reposessions and defaults before or after christmas. they're all in line with what happens during a recession and maybe even less historically.

mewbie_2

Gangstabird wrote: »

I am no financial expert, but will this cause the biggest bit of the recession or not?

Not being a financial expert qualifies you as a genius. Unless they all deliberately shut their eyes to the consequences of ten years of bonkers lending.

Anyway. Interest rises, tax rises, inflation rises, unemployment rises, public spending cuts. Just the right environment for a house price recovery. </sarcasm>

Gangstabird

Thanks for your answers. I guess I know this will happen. It's just really weird that people are not putting their money away for when it rains? Yet, everyone is still spending.

I don't understand.

lostinrates

Gangstabird wrote: »

Thanks for your answers. I guess I know this will happen. It's just really weird that people are not putting their money away for when it rains? Yet, everyone is still spending.

I don't understand.

Some people are saving. I should lots of people on trackers are overpaying like billy-o too.

aardvaak

Gangstabird wrote: »

Am I alone in knowing many people, some with BTL's (interest only) and lots with tracker mortgages who are saying 'Recession, what recession', I am only paying xxx now when last year I was paying YYYY'.

It all seems to good to be true. When the interest rate goes back up and I am sure it must as the banks are losing out and will not be happy with this for long.

I am no financial expert, but will this cause the biggest bit of the recession or not?

It is not very good if like me you own a house outright and have savings which should produce and income from the interest - all I think is I am supporting the ba**ards taking advantage of the low rates.

Lets hope the interest start to rise soon!

Lets start a campaign to raise interest rates now!

Pobby

I did thank that BUT without the silly low interest rates we see right now, goodness knows where we would be. I am the same as you aardvaak, own my own home and have some very high savings doing little. Our pension outlook is on the floor and my little business is not exactly bringing me in a kings ransom.

But there ya go, the price we pay for dumb lending, a housing market way out of control and a benefit system that positively favours a certain group who are far better of for not working.

Just think about this. If home ownership was at a resonable non bubble level, just how much more money would be available to be spent in the wider economy?

aardvaak

But there ya go, the price we pay for dumb lending, a housing market way out of control ................

Thanks Pobby I just think the wasters who took out over the top loans etc., are being rewarded for their reclass actions.

Scabs

Gangstabird wrote: »

Am I alone in knowing many people, some with BTL's (interest only) and lots with tracker mortgages who are saying 'Recession, what recession', I am only paying xxx now when last year I was paying YYYY'.

It all seems to good to be true. When the interest rate goes back up and I am sure it must as the banks are losing out and will not be happy with this for long.

I am no financial expert, but will this cause the biggest bit of the recession or not?

YES!!!

House prices will keep falling in the long term. Repo's are happening now, however two years ago they were as rare as hens teeth.

It can not get any better this countries debt levels are massive with rising umemployment and when (not if) interest rates go up its going to hurt a large number of people.

Backbiter

Scabs wrote: »

YES!!!
Repo's are happening now, however two years ago they were as rare as hens teeth.

Just so you know:

The number of homes in the UK repossessed by lenders rose last year by 54 per cent to 40,000, according a report by the CML released yesterday.
In 2007 25,900 homeowners saw their properties repossessed.
The CML expects that figure to triple this year coming close to the record of 75,500 repossessions in 1991.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5779938.ece

No all that rare.