rate cut and the housing market ...

Zammo

Running_Horse wrote: »

Sometimes they rise, sometimes they fall. We take the pain when they go up, and enjoy building up an overpayment cushion when they fall.

PMSL. I haven't seen much evidence of people overpaying when IRs fall. If anything they've done the opposite.

:rotfl:

Running_Horse

Zammo wrote: »

PMSL. I haven't seen much evidence of people overpaying when IRs fall. If anything they've done the opposite.

:rotfl:

Guess thats the caution instilled after experiencing the last crash.

Those who don't are mugs, and would get little sympathy from me if things did go wrong.

mr.broderick

Running_Horse wrote: »

Guess thats the caution instilled after experiencing the last crash.

Those who don't are mugs, and would get little sympathy from me if things did go wrong.

Running horse you appear to be in denial sir.
Believe me the party's over we're all doomed.

We'll all be in council houses this time next year

smudge33

Council houses? You mean some of them HAVEN'T been sold off???! The only council houses left around here are the ones even the junkies move out of as soon as they can..

Perhaps if there were enough decent houses, like the one that I very happily grew up in, there wouldn't be this lemming like rush to get into humungous amounts of (mortgage) debt. Or perhaps we would realise that actually renting isn't that bad, if we were prepared to provide acceptable housing for people who can't honestly afford a mortgage (and therefore avoid the high risk lending that has partly got us into this mess). I'd love to see decent council housing going up, not two bedroom rabbit hutches but solid 3 or 4 beds with a proper garden front and back - like what we were perfectly capable of building in the 50s and 60s...

Running_Horse

mr.broderick wrote: »

Running horse you appear to be in denial sir.
Believe me the party's over we're all doomed.

If that's the case I might as well go out and blow the mortgage money on beer, lottery tickets, and loose women. No point planning for the future eh?

mr.broderick wrote: »

We'll all be in council houses this time next year

Cool. Should I invest in a satellite dish now? Gonna need some rubbish for the front garden.

carolt

Running_Horse wrote: »

Cool. Should I invest in a satellite dish now? Gonna need some rubbish for the front garden.

How droll. People living in council estates are so amusing, don't you think?

Running_Horse

carolt wrote: »

How droll. People living in council estates are so amusing, don't you think?

Don't get your panties in a twist with me Carol.

I grew up on one of the roughest estates you could imagine.

tr3mor

carolt wrote: »

How droll. People living in council estates are so amusing, don't you think?

As long as they stay in those estates and we can watch from a safe distance!

Sapphire

Dylanwing wrote: »

Damed if they do, damned if they don't. I think they know that we are in for a rough ride and are trying to cushion the landing. With oil, energy and food prices rising, interest rates will make no difference to real inflation, and it's probably better that savers suffer rather than borrowers. You never know, maybe us wage slaves might still be able to afford a home, to get to work, eat, and afford next years Council Tax without selling the kids into slavery! We can do that when we have to buy our ever-so-useful ID card!

It's designed as a vote raiser for the 'government', and it isn't going to alleviate the property pyramid scam. The HPC will be all the worse the longer house prices remain high.

Why should savers - people who have been prudent with their money - suffer, rather than borrowers, many of whom have made idiotic decisions to buy property without any thought for the future? Are the moneylenders even going to lower mortgate interest rates for borrowers in line with the BoE cut? :mad:

aardvaak

Running_Horse wrote: »

Is there any reason the UK needs substantially higher interest rates than our American and European counterparts? Lets have more of the same. There is more to consider than just the housing market.

Oh why on earth do you say that - that is the last thing we need.

Who would want that?