Interest Rates going back up to normal levels again?

Crashy_Time

triathlon wrote: »

Good point, and I remember the misery it caused, the only reason I never got caught up in it was because I got my home 5 years earlier.

The big difference now is that we have 9 men each month who meet at the BOE and who have kept a rock steady economy with the lowest continuous inflation figures in a lifetime, do you really think they are going to vote for high interest rates and the destruction of the UK economy including housing, not a chance in hell, no matter what the reasons

That horrible period wrote the rule book on what not to do, even if it means mortgage debt forgiveness to prevent families being thrown out of homes.

Even now people mis sold interest only mortgages are getting redress

As global/US bond rates rise then so do mortgage rates, doesn`t matter what the BOE say. The difference between now and the 2008 crisis is that back then all the main central banks were co-ordinating policy, now the US is going for higher rates/inflation and China has cards to play in return to Trumps game, the BOE are just going to follow the US like they always do.

MobileSaver

Crashy_Time wrote: »

Yep, many people have not even dented their ten year old mortgages IMO.

Your problem is that your IMO isn't worth very much because your fanatical and misguided desire for a crash completely impairs your judgement. It's a simple FACT that around 98% of people will have paid off their mortgage at the end of their term.

A funny coincidence is that probably 98% of HPC regulars will have paid off their landlord's mortgage for them in the same time frame.

triathlon

Crashy_Time wrote: »

As global/US bond rates rise then so do mortgage rates, doesn`t matter what the BOE say. The difference between now and the 2008 crisis is that back then all the main central banks were co-ordinating policy, now the US is going for higher rates/inflation and China has cards to play in return to Trumps game, the BOE are just going to follow the US like they always do.

So this is really is it then, really really really it, after all this time it is it, after the 1300 plus sure fire triggers this is the baby. For some reason though I just don't feel that worried, why is that I wonder.

_CC_

_CC_ wrote: »

You could call most things unrealized "paper wealth". Do you have a pension Crashy? Any investments? Where have you been parking the cash while you've been waiting for this crash for 15 years?

Bump for Crashy...

triathlon

_CC_ wrote: »

Bump for Crashy...

I want to say I feel for the bloke, but I don't, not when they hope for so much misery on others.
The side of me that started to edge that way though was the fact that all those years ago when really the internet was in it's infancy along came one of those sites that targets impressionable people and because of the numbers and group think they actually believe over and over again what they are being told, these days we are starting to understand brainwashing sites and cults like HPC

A lot of these people like it has been mentioned are nearing the point of what would have been a whole mortgage term for some, 20 years was more than ample for my first home. And they have yet too make a start, too late for many.

There is a part of me that thinks that the new owners are not really house price crash believers themselves, why would they want a crash and their cult to walk away. Another part of me thinks it is owned by those of us not wishing a crash, who would. At least they all sound off in their little bedsits and are no problem to the system there apart from the endless trolling on internet blogs and media comments boards.

It is sad in a way when you think about it

_CC_

His silence answering questions speaks volumes.

westernpromise

MobileSaver wrote: »

Your problem is that your IMO isn't worth very much because your fanatical and misguided desire for a crash completely impairs your judgement. It's a simple FACT that around 98% of people will have paid off their mortgage at the end of their term.

A funny coincidence is that probably 98% of HPC regulars will have paid off their landlord's mortgage for them in the same time frame.

Indeed. In the last 6 years, I've paid off 32% of my mortgage. This year I'll pay off another 6%. I could pay off most of it by selling shares, but they're going up going up by more than the mortgage rate, and are tax-sheltered, so why'd I do that...

westernpromise

triathlon wrote: »

I want to say I feel for the bloke, but I don't, not when they hope for so much misery on others.
The side of me that started to edge that way though was the fact that all those years ago when really the internet was in it's infancy along came one of those sites that targets impressionable people and because of the numbers and group think they actually believe over and over again what they are being told, these days we are starting to understand brainwashing sites and cults like HPC

A lot of these people like it has been mentioned are nearing the point of what would have been a whole mortgage term for some, 20 years was more than ample for my first home. And they have yet too make a start, too late for many.

There is a part of me that thinks that the new owners are not really house price crash believers themselves, why would they want a crash and their cult to walk away. Another part of me thinks it is owned by those of us not wishing a crash, who would. At least they all sound off in their little bedsits and are no problem to the system there apart from the endless trolling on internet blogs and media comments boards.

It is sad in a way when you think about it

Yes. I have previously posted links to Usenet conversations from 1996, 22 years ago, in which the Crashies of their day posted about how overpriced property was, how it would never go up again ever, etc.

That was 88% of a mortgage term ago.

The big error these clowns all make is failing to notice how fast you pay down a mortgage at these rates. Crashy's fear of being trapped in negative equity is based, ignorantly, on the early 90s, when at 17% mortgage rates you barely paid off the principal for years. He shudders at the idea that he actually has to live somewhere for 5 years because he's in negative equity. Today, at 3%, you pay off 15% in the first 5 years, 25% in the first 8, etc. Even if you bought with a 100% mortgage the day the market crashed 25% you'd still be clear inside 8 years - and if you don't want to stay somewhere for 8 years you shouldn't be buying.

Crashy is now in his 22nd year of renting. He needs prices to fall 130% from present levels for hos decision to short the market 22 years ago to look now like a good one. Prices of course cannot fall 130%, or even 100%, nor have they often fallen 30% (and not for long). So who's trapped?

triathlon

Crashy_Time wrote: »

As global/US bond rates rise then so do mortgage rates, doesn`t matter what the BOE say. The difference between now and the 2008 crisis is that back then all the main central banks were co-ordinating policy, now the US is going for higher rates/inflation and China has cards to play in return to Trumps game, the BOE are just going to follow the US like they always do.

Just been watching Bloomberg, they touched what you have been saying. General consensus is that they all knew a kick back was coming, all over on Monday. And yet another sure fire 100% certain property crash trigger avoided, Phew!!!

Thrugelmir

westernpromise wrote: »

Indeed. In the last 6 years, I've paid off 32% of my mortgage. This year I'll pay off another 6%. I could pay off most of it by selling shares, but they're going up going up by more than the mortgage rate, and are tax-sheltered, so why'd I do that...

Then fortunately you sit the right side of the financial divide, which is widening. Easy to apply ones circumstances or views to a wider audience. Without actually knowing the entire story.