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Interest Rates could hit 6% very soon!
Comments
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mystic_trev wrote: »Surely it's boiling frog syndrome? If they'd thrown in a 0.50% when they knew inflation was taking off, they could have 'nipped it in the bud' without the need for IR's to go so high.
I see that now many are saying IR's will now have to go to at least 6% and the Markets are now starting to price that in.
I agree, stitch in time and all that.
I would also say that 2 years ago the market started to cool, this would not have been a bad thing.
It was kicked back into life again. The only reason I can think of is that Gordon Brown wanted to keep the country booming in the short term to look good. The downside would be long term instability.
He either knows this or is ignorant. Either way it doesn’t look good.
Can someone please tell me I am wrong on this? He will soon be our PM.0 -
True, although we've never had such a housing shortage before, so who knows how that will affect things. We cannot physically build houses fast enough for our growing population.
Is there really a housing shortage though? There's enough houses to house everyone isn't there?
If everyone sold their investment property, or holiday home, or BTL then I'm sure theres more than enough properties for everyone to have a home.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
Is there really a housing shortage though? There's enough houses to house everyone isn't there?
Yes-and I've mentioned this before.Those of us who saw the last Crash unfold heard the same thing. Remember, even some of the 'Boomers' were buying their first homes, and we were told the Housing shortage was only going to get worse. Look what happened next!0 -
Romani_Ite_Domum wrote: »It is not a waste of time for me. I am planning my next house move and am gathering as much information as I can so that I can make an informed decision. I would suggest to anyone thinking of buying now to do the same.
yeah but the "evidence" has pointed towards a crash for a long time. Many people made "informed" decisions a few years ago and held off buying or sold to rent on the basis that the market "had" to crash because thats what history says will happen after a boom.
How wrong they were! Its clear that many have lost out big time thanks to their "informed" decision. Tossing a coin doesnt seem like such a bad plan afterall, at least half the time these people would have been right!
I think, as many others have always said, if you are looking to purchase a home, and if you can "afford it", then theres nothing wrong with buying. If I were investing Id be looking for less risky places to put my money.
GL with the house hunt!Debt: a bloomin big mortgage
all posts are made for entertainment value only, nothing I say should be taken as making any sense and should really be ignored0 -
Demand is high, - more people living alone, rising divorce rates, people living longer, immigration, but I think demand will neither be here or there if/when money becomes expensive, credit tightens up & people can't afford to buy.
People won't buy, - regardless of demand.
Sentiment at the moment is "buy property! makes lots of money!". When/if IR rise enough, sentiment will change to "why buy property today, when it'll be cheaper tomorrow".Exactly my point... it wasnt mainstream. it was probably 2% of its current size.....
I was reading an article last week, according to the Office of the Prime Minister BTL only represents 2% of the total UK housing market, - immigration on the other hand represents 20%.0 -
where i live the ftb propertys aren't selling, stuff that was on 6 months ago is still up for salethings arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back then
MercilessKiller wrote: »BH is my best mate too, its ok
I trust BH even if he's from Manchester..
all your base are belong to us :eek:0 -
before_hollywood wrote: »where i live the ftb propertys aren't selling, stuff that was on 6 months ago is still up for sale
Snap. It's getting worse by the month here in Nottingham.
The BTL apartments are taking a hammering. No one is interested.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
they don't want to rent them round here, they get bought and end up empty. ftb houses are approx £20k too much and ea's wonder why no-one is buyingthings arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back thenMercilessKiller wrote: »BH is my best mate too, its ok
I trust BH even if he's from Manchester..
all your base are belong to us :eek:0 -
Swap rates
1y 6.12%
2y 6.04%
3y 6.00%
4y 5.95%
5y 5.89%
The markets have priced in a rate rise to 5.75% in July and a further rise to 6.00% in september.
With thanks to FF on TMF.0 -
mystic_trev wrote: »Swap rates
1y 6.12%
2y 6.04%
3y 6.00%
4y 5.95%
5y 5.89%
The markets have priced in a rate rise to 5.75% in July and a further rise to 6.00% in september.
With thanks to FF on TMF.
More evidence to support post number 18. Excellent.I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0
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