No interest rate rise in 2011

originalmiscellany

I think Renovation Man, your'e right. It could well be a long slow process of interest rate increases, none of us know what's going to happen. The only sensible thing is to live within ones means, tuck away any extra either into mortgage or savings (whatever is right for you) and ensure that when rates rise (if not this quarter then some point in the next 10 quarters!) the change in payment is sustainable.

HAMISH_MCTAVISH

Jimmy_31 wrote: »

low interest rates that are ruining the economy .

Are you, well how can I put this politely..... a bit special?

Care to explain the mechanism through which you think that works?

Graham_Devon

RenovationMan wrote: »

With the economy showing no signs of improving, it looks like low rates are here to stay.

Ahem

So you want to see people losing their jobs, and companies going under, so you can pay less on your gamble?



On a personal note, it's amusing how the tables have turned, with it now being the more optimistic house owners wanting a faltering economy. Tables have turned 180 degrees within a year

Used to be the fear that a recession would cause reposessions through lost jobs etc, and therefore growth was very much celebrated.

Now, it appears it's growth which is feared could cause reposessions through inability to afford any rate rises.

HAMISH_MCTAVISH

Graham_Devon wrote: »

the more optimistic house owners wanting a faltering economy.

Not at all.

What's best for me (and everyone else except the housing bears) is a booming economy, with unemployment reducing, businesses expanding, repossessions and arrears decreasing, etc.

If rates rise in that environment, that's perfectly fine.

But to raise them while the economy is still weak, the financial system is still dysfunctional, and unemployment is still rising (albeit slowly) would be pointless.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Not at all.

What's best for me (and everyone else except the housing bears) is a booming economy, with unemployment reducing, businesses expanding, repossessions and arrears decreasing, etc.

If rates rise in that environment, that's perfectly fine.

But to raise them while the economy is still weak, the financial system is still dysfunctional, and unemployment is still rising (albeit slowly) would be pointless.

At least you admit it.

You want the boom again, and openly admit that it would be best for you.

Don't speak for everyone else though. Boom only leads to bust. It's happened time and time again. MP's claim they will stop it, but they can't, just leads up to a bigger bust.

Everything in your last sentence happened BECAUSE of the boom. Yet your answer appears to be "we all (apart form the "bears") want boom again!!!

I'd absolutely HATE you to get what you want...as it means the standards of living for my son, when bust happens 10-20 years later will be, in terms of our standards of living, dire. He will be paying for your greed. F*ck that for a game. I want a stable economy, one not run on ever more lending and false dreams, with heads firmly in the sand, denying the inevitible. Only that way, will he get the standards of living everyone in this country should expect and prosper from.

We should pay now for the !!!!!! we have collectively caused. Don't expect younger generations to pay your pension for you. Work for it, and pay for your own.

DervProf

Sibley wrote: »

There is no chance of house prices crashing now.

You keep repeating this. Are you trying to convince yourself ?

gazfen2279

Sibleys A Fookng Idiot, The syphillis Must Be Getting To Him, The orrible Cretin.

HAMISH_MCTAVISH

Graham_Devon wrote: »

We should pay now for the !!!!!! we have collectively caused.

Do you know Graham, I have to mention that you're increasingly sounding more bitter and desperate by the day. Sort of like mewbie did before he went into meltdown and got himself banned, but without the humour....

You can keep your hair-shirted austerity longings and angst-ridden misery. This country has paid an enormous price for the global financial crisis (which I remind you had nothing to do with us) and it's time to get back to growth again.

Fortunately, with the clock ticking on the next election, it's just a matter of time before the pro-growth policies are implemented and we all get back to something resembling normality.

The rest of us know full well that a return to solid growth is inevitable, and that you can NEVER stop the economic boom/bust cycles. They're as inevitable as the Sun rising in the morning and setting at night.

All anyone can do is position themselves to take advantage of it, or allow themselves to get taken advantage of.

With your current attitude, you will undoubtedly end up in the second category..... Which means you're doing yourself and your son no favours at all.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Do you know Graham, I have to mention that you're increasingly sounding more bitter and desperate by the day. Sort of like mewbie did before he went into meltdown and got himself banned, but without the humour....

You didn't have to mention it. But thanks. I'll bear it in mind.

I'll also bear in mind that increasingly you seem unable to compose a post without personal digs....which tells me a lot more than what you just said above

You can keep your hair-shirted austerity longings and angst-ridden misery.

Yes. Indeed. I state I want to see simple stability, and you convert that into the above.

Still, at least I know I'm the desperate one

Cleaver

Jimmy_31 wrote: »

Oh we can all breathe easy can we, so you are happy with your cheap interest rate, well i for one wish the interest rate would go back to 5% overnight. I get sick of people saying to me you cant want a house price crash or interest rate rise what about the people who will lose their homes. The fact is those who didnt pay stupid prices for homes wont lose them but those who paid 250k for a 2 bed terrace and have absolutely no money for emergencys will lose them and only have themselves to blame. Are you happy that thousands of pensioners who have worked hard everyday of their lives to get savings in place are now getting a joke of a return on their money?

You do understand that whilst hiking the interest rate to 5% tomorrow would allow pensioners better interest on their savings, the catastophic effect this would have on the wider economy would probably mean that pensioners (and everyone else) would be royally f*cked?