We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savers 'lose' £43bn, Mortgagees 'gain' £51bn.
Comments
-
Bump.
This won't be forgotten Graham.0 -
ruggedtoast wrote: »Bump.
This won't be forgotten Graham.
Something about his son being able to afford a house in 20 years time.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Quite. The Beeb doesn't like to do comment, it just churns press releases.Kennyboy66 wrote: »They are BoE figures not the BBC's.
So what is the BoE up to? The statement was obviously timed to be a prelude to the MPC meeting later in the morning.
One might almost think they were softening us up for an increase in interest rates. Of course nobody was fooled about that, but the timing did get the point covered in the media.
My guess is that it was aimed at the Government. Merv is getting fed up of carrying the load while Gideon does nothing. He's pointing out that the present situation is creating unnatural strains and can't necessarily be continued indefinitely.
It's a moral dilemma for Tories, because they love to think of themselves as people who "do the right thing" and save to provide for themselves, unlike the !!!!less classes who overspend and get into debt and expect the state to provide.
They'd love to be able to pontificate about rewarding thrifty savers, and they'd love to reduce the benefits of anybody in debt - reducing benefits now seems to be the punishment of choice for all chav behaviour.
Only trouble is, they're all borrowed up to the hilt, because they're well aware of the financial advantages, which outweigh the moral precepts they like to think they have. But it's not really borrowing when Tories do it, is it."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Graham_Devon wrote: »Discuss
the problem isn`t with mortgage rates but the cost of other borrowing e.g credit cards averaging 17% when base rates are 0.5% is a disgrace0 -
All I said was f*ckless, with an e.unlike the !!!!less classes
(Note to MSE - the whole darned point of using a blinking euphemism instead of the actual flipping swearword is that you are allowed to say it.)"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
It's the free market at work. There's no shortage of "competition".the problem isn`t with mortgage rates but the cost of other borrowing e.g credit cards averaging 17% when base rates are 0.5% is a disgrace"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Long live low interest rates (and Icelandic bank bailouts) :j:beer:0
-
ruggedtoast wrote: »I dont understand your manfiesto Devon.
You own a property through a shared ownership. You are effectively a home owner.
Yet you thirst for house price falls like a wrinkled dry cactus in the desert thirsts for the Autumn rains.
Why?
I too am curious as to why GD ghosts out of the thread every time this comes up.:)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Something about his son being able to afford a house in 20 years time.
And how's he going to be able to do that if banks still require a decade plus of savings for a deposit, prices rise anyway due to the shortage and soaring rents attracting investment capital, and Graham hasn't been able to buy the rest of his house due to mortgage rationing so can't afford to help?
Typical myopic bear.:(“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I have a different question - where did the extra 8bn come from?
Is it taxation (less interest income to be taxed)?
Or bank margins - previously current accounts paid 0.1%, which has only been reduced to 0%?
Seems that whilst individually there have been winners and losers overall there is a net gain?!
PS I still can't believe the BoE has released such a meaningless nominal number - those suggesting their must be a political dimension must be on the money.I think....0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards