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evictee

Interest Is Coming

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It is frightening how thick, and deserving of hardship, Joe Public is. I mean really thick.

You know how thick the average person is? Well 50% of the population is thicker than that....

(With apologies to the late, great George Carlin)

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The message is, interest rate rises are coming.

These times are the most interesting for those waiting for affordable housing since 2008.

If your choice is buy a house or wait, Id say wait.

Heard some of the calls, as expected. Some old dear even thought it would make houses less affordable as mortgages would be more expensive. The possibility of house prices coming down is a blind spot to so many, its a very strange phenomena.

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It's You and Yours mind, so don't expect much enlightenment.

Well I take that back, it was quite an insight, with some well reasoned hawkish sentiment even getting an airing. Worth catching on iplayer when it appears.

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There were some good callers IMHO including one chap who directly linked cheap credit with high prices and said he'd bought a nice 3 bed semi with garden and garage etc when rates were 10% and he and his wife were on low wages, and wished for a rise to help millions of young people have the same chances as him.

Also a few anti BTL texts and emails that were read out. Still plenty of hapless 'victims' too....

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First caller - mortgage is 15 times her salary!

Personally I don't think she has a problem.

Yes the banks got a problem but not her

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Thanks for the link, but not going to listen, having a calm day today...

Calm preserving edited highlights: Terry from Dorset @ 15:36; Simon Rose from Save our Savers @ 33:55...

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This was better than I thought.. I missed the first half on my first listen.

Quite a lot of sense spoken, terry from dorset was very good

Edited by cybernoid

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Personally I don't think she has a problem.

Yes the banks got a problem but not her

(26-05-2014 11:06 PM)
daniel_booth Wrote:
I know plenty of people who were around the 5-20 million level, all taken down by the banks since 2008, most of whom had never missed a mortgage payment in their life.
These chaps lost everything, wouldn't say that's the bank's problem!

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Yayy Terry - need to bring house prices down.

Tells of how he bought nice house, gardens, driveway, garage etc in 1970s on below salary income.

And when the woman presenter immediately springs to "it would be very painful for x15 mortgage woman..." (shutttttup at mental house prices) he doesn't allow her to drag it back to that sympathy-excuses we've had almost constantly for so many years. He says there's millions of young people priced out.

It's a market - not just homeowners are everything that matters in life, and "protect debtors" to protect ludicrous owner outright house prices.

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Surely that must be FRAUD

I think it was only 15 times her salary because her ex-partner was picking up the tab previously. That said, my sympathy for her evaporated when she told us all how she was going to struggle on to the bitter end but would probably end up being wiped out by a rate-rise. What is wrong with people - why would they rather wait until the bailiffs come round than simply sell up (even at a loss) and go into rental accommodation?

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