Making the news today....

[Retired Climber]

2 minutes ago, Commando said:

I wonder if "Young Climber" has the same opinion..🤔

Fair point, but interest rates have been ridiculously / unsustainably low. If 'young clinber' needs them this low his financial plans are fundamentally flawed. 

[Commando]

9 minutes ago, Retired Climber said:

Fair point, but interest rates have been ridiculously / unsustainably low. If 'young clinber' needs them this low his financial plans are fundamentally flawed. 

I was reading somewhere that if interest rates hit 5% it would cripple most mortgage holders! I guess there are a lot of financially exposed people out there…

Edited September 22, 2022 by Commando

[GarethM]

And a housing market that's due a reality check, all those empty luxury high rise flats in London.

 

All purchased as investments, when really they could have been half the size and sold at a reasonable price instead of forcing low earns miles into the suburbs or into ghetto style accommodation.

[Retired Climber]

7 minutes ago, Commando said:

I was reading somewhere that if interest rates hit 5% it would cripple most mortgage holders! I guess there are a lot of financially exposed people out there…

A lot of people are going to get a rather abrupt reality check. 

[Stubby]

44 minutes ago, Retired Climber said:

A lot of people are going to get a rather abrupt reality check. 

Some people on the south coast might get their beach huts repossessed !

[Mick Dempsey]

Some of us have lived through booms and busts, good times and bad.

Stuff happens, life’s not always fair.

We’re not being bombed by the Nazis, things could be worse.

[Retired Climber]

13 minutes ago, Stubby said:

Some people on the south coast might get their beach huts repossessed !

Anyone daft enough to buy a beach hut on credit deserves to be thrown in the sea. Personally, I can't see the appeal anyway, but if you can't afford it, don't buy it. 

[Retired Climber]

12 minutes ago, Mick Dempsey said:

Some of us have lived through booms and busts, good times and bad.

Stuff happens, life’s not always fair.

We’re not being bombed by the Nazis, things could be worse.

Agree entirely. Life is just a game; there are very few rules; sometimes you win, sometimes you lose. Anyone can make a fortune, and anyone can drop down dead at any time. Roll the dice, but don't moan about what numbers you get. 

[oldwoodcutter]

I’ve seen boom and bust countless times, if you’re heavily mortgaged and all your big kit is on tick there could be trouble ahead, if you’ve got your first million on deposit in the Nationwide you may have a bit more of a skip in your step.

On a more personal level, I put a skip in my step if I open my eyes at sunrise and realise I’m still alive enough to get out n about  and price a few jobs up.

 

 

 

[Johnsond]

1 hour ago, Retired Climber said:

Agree entirely. Life is just a game; there are very few rules; sometimes you win, sometimes you lose. Anyone can make a fortune, and anyone can drop down dead at any time. Roll the dice, but don't moan about what numbers you get. 

That’s exactly how I felt throughout the past couple of years of total shite. It seems the I’m alright Jack or holier than thou attitude is alive and well, whilst I agree the interest rates have been probably unsustainably low for too long now I get no kicks out of lecturing people who might not be as fortunate as others. There’s a lot of people who will undoubtedly end up in mortgage arrears or worse in part due to the crazy prices that you see in the housing market. You may judging by a previous post where you alluded to your amazing day rate be in a position to benefit from the higher rates we are seeing, me personally I’d rather give a shit about the younger families out there who will be bricking it at the seemingly never ending hikes. You are right though it’s a bullshit game played by people way way up the chain. As for day rates I never brag or would certainly never quote specific numbers in a Harry Enfield loadsamoney gobshite manner but feel free to look up the 2022 ODIA offshore agreement and you will see what the North Sea oil and gas game pays Divers/Supvs

Edited September 22, 2022 by Johnsond