[Politics] Liz Truss **RESIGNS 20/10/2022**

[Charlies Shinpad]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

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[Weststander]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

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That was a good point in the past. 1990-1993 was a crap time to have a mortgage and modest income.

But capital cost and mortgage values are so high now, that mortgage payments will be vast relative to income.

Rates are projected to peak at 7% in 2023. £300k buys a small flat, having paid a 20% deposit.



It’s the capital values now that will be the killer. Expect people to lose their homes, although banks this time might be much kinder.

 

[A1X]

[tweet]1574789422222086151[/tweet]

Genuinely unhinged. I don’t claim to be a financial expert but I’m not convinced the international money markets and the City of London are bastions of left wing ideology.

 

[Igzilla]

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[pb21]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

Apples and oranges and lemons, but you're right people might be forced to take second jobs again, that's progress I guess.

 

[zefarelly]

I wish so much we were a bit more french in this regard

entendre entendre!

 

[Bold Seagull]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

3 million unemployed, 300,000 homes repossessed. Great times. Everyone back then just took it on the chin.

 

[Swansman]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

People had less issues paying 7% of their £30 (ok, exaggeration but housing was A LOT cheaper) mortgages back then than they're going to have paying 5% or so percent of their £300000 mortgage today.

People also should not need to work 18 hours a day just because the rich doesn't feel like paying taxes or paying people decent wages.

Hopefully the younger generation are made of a harder material than yours, and just refuse to be treated like shit.

 

[Eeyore]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

You're not factoring in the increase in house prices. In 1980 the average house price was around £20,000. It's now over £200,000. With inflation, it should be about £80,000.

Low interest rates have encouraged folk to buy. As have governments and institutions.

Of course, this will have a knock on affect for renters.

Bad news.

 

[joydivisionovengloves]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

House prices have risen way over the rate of inflation, so peoples mortgages are way larger than they used to be and repayments make up a larger proportion of outgoings.
Just comparing interest rates doesn't tell the full story.

 

[Igzilla]

House prices have risen way over the rate of inflation, so peoples mortgages are way larger than they used to be and repayments make up a larger proportion of outgoings.
Just comparing interest rates doesn't tell the full story.

Plus, if house prices tumble, a lot of people will be in negative equity, just like the last time interest rates went through the roof. Who was in power then? Oh yeah, the Tories...

 

[Thunder Bolt]

3 million unemployed, 300,000 homes repossessed. Great times. Everyone back then just took it on the chin.

Not to mention negative equity.


Higher percentages on homes worth £125,000 are not nearly as onerous as higher percentages on £400,000.

 

[clapham_gull]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

Without even factoring in the huge increase in house prices and how a subtle change in interests can create create much larger monthly payments.

Yes, let's blame them on having a mobile phone or a satellite package.

Are you a Tory Minister ?, you should be.

0/10.

 

[monty uk]

I wonder if many, or indeed any, of the 160,000 or so mainly middle-old aged, southern white males who voted in the Laurel and Harry of the Tory party have experienced buyers' remorse?

As a result of the actions of this tiny proportion of the population the economy of the country has been trashed and the lives of many likely to be adversely affected. We have become a global laughing stock - even more so than when the bungle**** was in place.

All to prove the point that backstabbing of a totally and proven ill-suited leader is not the short of thing one does in the shires.

Sakes.

 

[clapham_gull]

I wonder if many, or indeed any, of the 160,000 or so mainly middle-old aged, southern white males who voted in the Laurel and Harry of the Tory party have experienced buyers remorse?

As a result of the actions of this tiny proportion of the population the economy of the country has been trashed and the lives of many likely to be adversely affected. We have become a global laughing stock - even more so than when the bungle**** was in place.

All to prove the point that backstabbing of a totally and proven ill-suited leader is not the short of thing one does in the shires.

Sakes.

It started with Brexit and the purge of the sensible ones. We aren't supposed to mention the B word but I think we can talk about the after shock.

 

[Guinness Boy]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

Maybe pencil your extra shifts in for the weekends when Brighton are playing?

 

[Randy McNob]

It started with Brexit and the purge of the sensible ones. We aren't supposed to mention the B word but I think we can talk about the after shock.

well the sensible people in the room i.e. "remoaners" said Brexit would be like driving our economy off a cliff edge, and here we are, at the bottom of the cliff, assessing the wreckage that is the UK economy

 

[Charlies Shinpad]

Maybe pencil your extra shifts in for the weekends when Brighton are playing?

I worked hard in those days and have no mortgage now, so those days of two jobs etc etc paid dividends for me in the end .
Home and away games every season now [emoji6]

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[Gwylan]

Without even factoring in the huge increase in house prices and how a subtle change in interests can create create much larger monthly payments.
.

Or the abolition of mortgage tax relief

 

[Cotton Socks]

Just looked up the mortgage interest rates for the last few decades and it seems people are getting a bit upset when in a way they have never had it so good.
But then again everyone didn't have Sky TV, Mobile Phones or other luxuries that come before anything else these days.
Might have to do what a lot of us did back in those dark days and get a second job in the evenings and weekends.

Sent from my CPH2195 using Tapatalk

Such a shame you weren't around to advise my parents in the 90's! I loved sitting home alone every day after school until 6pm earliest as they both worked their nuts off to pay the mortgage. I loved it even more when they had to hand the keys back to our house and move into a shitty flat. Mobile phones are not actually a luxury and you need the internet to do pretty much anything these days which most people have on their mobiles. Incidentally a mobile now costs less than a landline.
You are being patronising and unkind to people that are going to suddenly find themselves in the shit through no fault of their own. Not because they are paying £100's per month for Sky or any other subscription tv, not because they are buying 'luxuries' but simply because the price of everything has gone up so much that they're having to fork out money to buy heated blankets to sit and watch the freesat tv under. Buy loads of food as it's cheaper in bulk or put the money towards the blanket and keep the heating off for as long as poss? Layout the money for a heated clothes drier & hope it doesn't cost too much in electric or switch the heating on to dry the clothes as it's raining? You seem to live in a very black and white world that lacks empathy for others that have to make difficult choices. Are the people who've never had sky tv or luxuries worthy of some empathy?