Guy at work.. Should i tell him?

Lotus-eater

Walter_J wrote: »

I don't know about the other years - I wasn't born - but there was definitely a house price crash in 1972.

However, no-one noticed!

Is that because of no internet, no 24hr news stations, no 10 year infatuation with property?
I remember the 89/90 crash and people certainly noticed that! However that was still without the internet and 24 hr news stations. There was an infatuation with property before the crash, but absolutely nothing like the last few years. (imho)

Jorgan_2

PasturesNew wrote: »

Back in "my day", it used to be 3x single salary or 2.5x joint salaries or (3x higher + 1x lower) I think was the 3rd option.

And a deposit. Non-negotiable.

And you had to go in on bended knee and beg for the money even if the sums did mean you could afford something, which I never could.

I remember the rules being this stringent even as recently as 2000-2002.

It could take three months to get you mortgage approved, you had a limited choice of lenders, a building society or the local council and if they had used there allocated funds you had to wait for the next allocation to come through.

Strapped

I don't remember it being that strict - I bought for the first time in 1996, on a 4x salary multiple and no deposit. (And a cashback mortgage - oh the shame )

Generali

I think it was in 1974. Google 3 day week or 1974 Oil crisis and you'll get the picture. People most definitely noticed there was something rotten with the state of the economy.