It`s different this time

PasturesNew

MrCarrot wrote: »

I'm not the only one who pays more in business rent than the cost of my mortgage then :mad:

No, not that sort of studio; in this context a studio is a posh word for small/self-contained bedsit,

baileysbattlebus

Pobby wrote: »

Thinking back to the last recession it does feel different this time. For a start we had high inflation at the same time so IRs were in double digits unlike the 0.5% they are now.

I have no proof but I am told there was far less personal debt in the early 90`s.

In my own case my £58k mortgage reached around £700 a month:eek: That`s a pretty heavy mortgage by todays standards.

Same as you then - £60k mortgage and an equally hefty repayment.

pay cut and then pay freeze for 3 years.

Personally, it doesn't feel as bad this time - that's probably to do with the mortgage repayments - they were a killer - we pay less now on a bigger mortage than we were 20 years ago - a lot less.

And OH's pay must have doubled in the same time.

I just hope mortgage rates don't go up anytime soon - not for us particularly - we aren't on a wing and a prayer - but quite a number will be.