news & politics:discussion

[Guest]

Interest rates gone up to 2.25%, not ideal. 

[Guest]

Info on interest rate rise. 

[squirrelarmy]

1 hour ago, Ozanne said:

Interest rates gone up to 2.25%, not ideal. 

I’m one of the few who are ok with it. I’m currently saving for a house deposit. I’ll take that extra half percent on my savings. 

[Guest]

5 minutes ago, squirrelarmy said:

I’m one of the few who are ok with it. I’m currently saving for a house deposit. I’ll take that extra half percent on my savings. 

Fair play to ya, good luck with the saving!

It might mean the mortgages offers aren’t as good though.

[fraybentos1]

2 minutes ago, squirrelarmy said:

I’m one of the few who are ok with it. I’m currently saving for a house deposit. I’ll take that extra half percent on my savings. 

If you're a first time buyer , get a LISA. 

Also, an extra half percent on your future mortgage payments is gonna cost a lot more than an extra half percent interest on your savings, sorry to be the bearer of bad news

[steviewevie]

Angela Rayner interview on News Agents podcast - talking about that note passed round commons about Queen, Truss' economic plans, Starmer, strikes, and how PR is shit.

 

[steviewevie]

UK in recession. Yay!

[steviewevie]

but it's ok because NI rise being reversed from 6th Nov. Hallelujah!

[Guest]

Once again not announced in the HoC. What a shambles. 

[mattiloy]

1 hour ago, Ozanne said:

Fair play to ya, good luck with the saving!

It might mean the mortgages offers aren’t as good though.

It’ll also mean a massive crash in house prices so..

[Skip997]

3 minutes ago, mattiloy said:

It’ll also mean a massive crash in house prices so..

I understand nothing about economics, but hopefully this is true. House prices are absolutely disgusting ATM, as are rents.

[steviewevie]

5 minutes ago, Skip997 said:

I understand nothing about economics, but hopefully this is true. House prices are absolutely disgusting ATM, as are rents.

don't want a crash as that will be a nightmare for so many...just want them to stop going up for a few years, and then a few more.

[Skip997]

2 minutes ago, steviewevie said:

don't want a crash as that will be a nightmare for so many...just want them to stop going up for a few years, and then a few more.

again I'm ignorant as fuck re such things, never had anything to do with mortgages, barely had much to do with rents either

(no Neil it's not because I'm middle class with some sort of allowance)

why would a housing price crash be a nightmare?

[steviewevie]

so...brave new world has began...Truss economics...and if economy starts growing before the next election, which is possible, these things are cyclic and things might be improving internationally...she'll be able to say she was proven right...and then will win that election and we'll have loads more lovely Truss economics for the rest of the decade...woohoo!

(then again economy might still be fucked and everyone will be fed up and she'll be booted out)

[fraybentos1]

1 minute ago, Skip997 said:

again I'm ignorant as fuck re such things, never had anything to do with mortgages, barely had much to do with rents either

(no Neil it's not because I'm middle class with some sort of allowance)

why would a housing price crash be a nightmare?

If house prices are crashing it is likely indicative of something really bad happening in the wider economy. A big recession and lots of job losses etc.

[fraybentos1]

14 minutes ago, mattiloy said:

It’ll also mean a massive crash in house prices so..

Really doubt it tbh. I'd like it personally as someone wanting to buy next year but this gov has shown they will do anything to keep the bubble going. Interest rates have been going up for a while and house prices still going up.

[Neil]

5 minutes ago, Skip997 said:

why would a housing price crash be a nightmare?

because it will effect everything else, inclkude a recession, and how quickly we finish the recession.

[steviewevie]

3 minutes ago, Skip997 said:

again I'm ignorant as fuck re such things, never had anything to do with mortgages, barely had much to do with rents either

(no Neil it's not because I'm middle class with some sort of allowance)

why would a housing price crash be a nightmare?

when mortgage greater than house price things can get real dicey for those struggling to pay...

[Skip997]

1 minute ago, Neil said:

because it will effect everything else, inclkude a recession, and how quickly we finish the recession.

So house prices are in-affordable for many, even those with good jobs, how do we bring prices down to something human.

[Neil]

Just now, Skip997 said:

So house prices are in-affordable for many, even those with good jobs, how do we bring prices down to something human.

too late for any sensible market correction. houses are the last safe bet for an investment. too many have their whole future invested in houses.

[Skip997]

2 minutes ago, steviewevie said:

when mortgage greater than house price things can get real dicey for those struggling to pay...

Doesn't the mortgage depend on the current value of the house? Therefore mortgages would go down.

[Guest]

1 minute ago, Skip997 said:

So house prices are in-affordable for many, even those with good jobs, how do we bring prices down to something human.

Increase supply would help but the Tories main voters don’t want the disruption of construction and more people in their area. 

[Neil]

Just now, Skip997 said:

Doesn't the mortgage depend on the current value of the house? Therefore mortgages would go down.

in bristol at the moment, mortgages are £50k more than the value of the house, paying £50k over asking price is the only way to buy one.

[Skip997]

1 minute ago, Neil said:

too late for any sensible market correction. houses are the last safe bet for an investment. too many have their whole future invested in houses.

Wow we've gone even more wrong than even I thought

 

[Neil]

1 minute ago, Ozanne said:

Increase supply would help but the Tories main voters don’t want the disruption of construction and more people in their area. 

theres no land eft for building on, what's left is on floodplanes.