Interest rate will go up in new year

Graham_Devon

chucky wrote: »

how many of these rent, how many have a mortgage, how many live with parents, how many no longer have a mortgage?

i'd love to agree with you but i don't do urban myths...

What difference does the above make?

Absolutely none. So not sure why you bring that up solely in response to all my points?

I didn't there there would be any point in trying to give reasoned answers to your questions. However, gave it a go. Seems thats where the convo is going to end. You asking a question, answers you don't like, so the playground stuff starts.

Bangkok-Dave

I read the Daily Mail article. Noticed it's been taken over by the usual doom and gloom parade.

I hit them with a cracking comment. I reckon it will be voted best all time post. :rotfl:


As usual this story has been posted on an anti home owners website. Most of the comments are from a group of renters trying to bring down house prices by taking over these type news stories.
They wish to scare the general public into believing prices will drop so they can pick up a bargain.
Well let me speak for the home owners. Interest rates are going nowhere for at least 2-3 years. The governement is doing the right thing and protecting the hard working family man. We may even have more QE and nobody would dare to U turn on that.
Savers had it easy. Now it's time they helped other members of society. Home owners need a few more years of low interest. Let us get some meat on the bone. House prices will not move and that will give FTB's a chance to save a deposit. It's a win win situation.
We will allow rates to rise to around 3% in the future. The days of big interest rates are over.
Happy Christmas HPC

chucky

Graham_Devon wrote: »

What difference does the above make?

Absolutely none. So not sure why you bring that up solely in response to all my points?

I didn't there there would be any point in trying to give reasoned answers to your questions. However, gave it a go. Seems thats where the convo is going to end. You asking a question, answers you don't like, so the playground stuff starts.

these people that seem to be affected by your scenarios won't be affected - let me explain it to you really simply.

if you rent you don't have a mortgage so you won't be affected by increased rates
if you live with parents you don't have a mortgage so you won't be affected by increased rates
if you've paid off your mortgage, errr you don't have a mortgage so you won't be affected by increased rates

it's really simple to understand - i'm not sure why you're throwing your toys out of your pram... probably because you don't have a comeback and the thread is going to go down the usual Devon route

Graham_Devon

chucky wrote: »

it's really simple to understand - i'm not sure why you're throwing your toys out of your pram... probably because you don't have a comeback and the thread is going to go down the usual Devon route

Is it?

You were specifically asking about people paying mortgages in 2007.

I answer that, talking about those mortgages you specifically asked about, and you come back with "but how many of those rent or live with parents". You've totally changed your question to tell me I have no comeback.

Then you start about throwing toys out of the pram.

Theres no toys being thrown, I just dont understand why you would ask about specific people payign specific mortgages, then go off trying to confuse things asking how many of those paying mortgages, rent.

Your question was:

chucky wrote: »

can someone explain why people can't afford the mortgage in a couple of years time if they were paying £400 more a few years ago?

Absolutely nothing to do with rents. Running round in circles presumably getting to you.

chucky

Graham_Devon wrote: »

I just dont understand

it's nothing new

FTBFun

Graham_Devon wrote: »

- A lot of people have found themselves in part time jobs. Although not hitting the job figures, it's well known that many many people are in part time jobs, looking for full time. So not everyones income has stayed static, which you suggest above.

So basically - "And that's a fact! There's no real "evidence" for it, but its a fact"

You are Dr Fox and I claim my £5.

lisyloo

an someone explain why people can't afford the mortgage in a couple of years time if they were paying £400 more a few years ago?

Well your assuming they had a mortgage in 2007 in the first place.

People who have bought recently may NEVER have experienced higher rates.
Now whilst it's daft to expect rates to stay at 0.5%, people who've bought recently have only known low rates. Perhaps they don't expect 0.5%, but they have been brought up in a low rate environment.

Graham_Devon

FTBFun wrote: »

So basically - "And that's a fact! There's no real "evidence" for it, but its a fact"

You are Dr Fox and I claim my £5.

Well, unfortunately, it IS fact.

http://news.bbc.co.uk/1/hi/business/8518606.stm

http://www.guardian.co.uk/business/2010/jul/14/unemployment-part-time-working-record-high

http://www.telegraph.co.uk/finance/jobs/8203220/Unemployment-increases-by-35000-to-pass-2.5-million.html

The evidence is above, in the figures.

Surprised you don't appear to know about this?

From 15th Dec:

The number of people working part-time because they could not find a full-time job increased by 46,000 to 1.16m, a record high.
Ian Brinkley, associate director of The Work Foundation said: "Until full-time jobs start to increase again the labour market will not be able to absorb large-scale job losses in the public sector. Unemployment in 2011 must then inevitably rise."

I'm not just making stuff up, it IS well known, regardless of your blinkers as a housing bull. Just don't try and make me look stupid when your wearing them!

quantic

As long as the rate rise holds off until my house is fully renovated and decorated ill be happy.

FTBFun

Graham_Devon wrote: »

I'm not just making stuff up, it IS well known, regardless of your blinkers as a housing bull. Just don't try and make me look stupid when your wearing them!

Fair enough.

BTW I like the fact i'm being labelled as a bull now. Do I get a special medal?