Making the news today....

[Commando]

33 minutes ago, Retired Climber said:

About bloody time. Interest rates have been a joke for quite some time now, especially when you also consider the inflation rate. 

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

[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.