Interest-only mortgages expiring

Davesnave

Yes, the 70s saw couple of periods when prices surged.

In the early 70s I was 'caretaking' a huge flat in one of the city's Georgian centrepieces, courtesy of an EA friend, which was all very well, but the huge increases in the cost of ownership made me think I might miss the boat in buying something of my own.

He told me, "Don't worry, increases such as we've seen won't be repeated."

I took no notice, saved like mad, sold my period furnture, which only fitted that sort of property, and took the first chance of buying in the location I'd chosen.

He wasn't giving me BS, as he'd nothing to gain or lose. At that time, it seems all of us were taken by surprise when house price inflation continued to soar,

moneyistooshorttomention

Cynicism obviously came to you at an earlier age than it did for me personally Dave:rotfl:.

Just as well in the event:T.

I do look back and wonder if I could, in any way, have done things differently - and my life now might be a very different story to what it is. But I can't think I could have - my salary was just too low - save as I might have.

Never mind - where I'm living now is one heck of a learning experience - basically about what my own values are and how peoples environments tend to shape them to such a large extent.

Davesnave

moneyistooshorttomention wrote: »

Cynicism obviously came to you at an earlier age than it did for me personally Dave:rotfl:

I don't know.

I remember Macmillan telling us in 1957 that we'd never had it so good. It really hit home, because at the time I'd never had it so bad!

I was still at primary school, but I thought, "What does he know!" :rotfl:

Later on, I realised he was right in a historical context, and it was just bad timing where I was concerned.