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Bingley Bloke

The Sheeple Are Angry!

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Guest absolutezero

I love the way they're all saying "Ihave a fixed rate mortgage so I'm not affected".

Little do they realise fixed rates end at some point and when they look for another fixed deal it will be at 8% or so.....

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What a bunch of whiners they are on that site. 'Wah, wah, wah, I borrowed vast amounts of money expecting rates to stay the same, and now they've gone up! How will I afford it? Why don't the Bank of England consider mortgage costs more important than the future of Britain?'

The one that most amused me was the guy asking about the effects on 'young couples' of having to pay more interest... he clearly didn't worry about the effect on 'young couples' of being priced out of the housing market.

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Either there's a lot of HPCers on there, or there are more of "us" (either bears or people who think prices are crazy) out there than we thought

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Either there's a lot of HPCers on there, or there are more of "us" (either bears or people who think prices are crazy) out there than we thought

I am surprised at the number of sensible remarks on there now. When the first few went up they were just laughable angry responses about how unfair it all was, like it was ever fair that an ordinary person on an ordinary wage couldn't afford an ordinary home thanks to these cretins :lol:

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Good link , a few on there would be happy on here , but most of the rest are just a selection of clueless saps who don't understand whats going on .

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Still, if anyone thought that a 0.25% raise in rates wouldn't affect the housing market, they only need to read the number of people there whining about how they can't afford the increase in interest payments on their debts.

People have borrowed up to their absolute limit at incredibly low rates: now they can't even afford to cover a 0.25% rise. It's insane.

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I've just read the first page of recommended views. I think the problem is people just don't understand inflation, and why interest rates need to change. Here's some posts:

Somebody explain this to me:

Cost of living goes up, tax goes up, salaries don't go up. Consequence: People have less money. And the cure? Make life even dearer and take even more money off them? It just doen't make sense ...

I have a big problem with the arguments used by very well-paid City economists for rate rises. They say that increasing rates is needed when inflation rises, to take heat out of the economy and cool down spending. But what sense does it make to do so when the main inflation pressure here currently is due to international energy price increases? How can a rate rise here make ANY difference to the price of Crude Oil and Gas in the international markets. Its just not joined-up thinking!
it's official !!!!!!!!!!!! the lunatics are in charge of the asylum-inflation is up because of the oil price,not because we're awash with extra money from inflation busting pay rises.

Wonder who's going to benefit from this "stealth tax",certainly not us.

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Indeed: most people don't have a clue about economics, which is precisely why we're in the situation we're in today.

The funny thing is, if these people then go whining to their bosses about how they need more money to pay their mortgage, and get pay rises as a result, that will increase wage inflation, which will lead to higher interest rates :).

Edited by MarkG

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I've just read the first page of recommended views. I think the problem is people just don't understand inflation, and why interest rates need to change. Here's some posts:

I came to the same conclusion. They just don't seem to understand what interest rates are for.

They all seem to think that the BoE should be keeping them low so that they can go on spending and borrowing

I thought the inflation problems were due to the Bush/Blair handling of the ME crisis and the impact of Global Warming
Edited by munimula

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Guest mattsta1964

Crikey! I'm amazed how many people critical of the debt mountain and inflated house prices have had their comments posted on the BBC website. Excellent news! Some very accurate comments about the parlous state of the UK economy. This kind of publicity on the BBC website is really good news. It's about time these views were aired forthrightly in the mainstream media, particularly by the Beeb. A big grin here in Cambs.

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This seems to be a knee jerk reaction, I can't see the benefits of doing it so soon. Where I live, the housing market isn't very strong, in fact, I'd say weak, so this rise is only going to make it even tighter

absolutely clueless....

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Anyone seen the quote by Thomas Monk ;)

I think that this is a great decision. My savings will be helped and my children will hopefully find that the crazy house prices that have so far meant that they could not afford to get on the housing ladder will now reduce. I'd like to see 3 further rate rises as I feel 5.5% would really bring house prices down to a more affordable level.

Thomas Monk, Wokingham

Couldn't have put it better myself !

TF

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...if we see rates around 12.00% again then I'm homeless along with thousands of other's who've been sold mortgages over the last decade on the promise of continued low rates...

Chris H, Devon

Heh heh.

Hehehhehehehehee!

Mwhahahahahah!

Mwhahaha Mwahahahahah!! mhawah AHAha! HA! Mwahahah MWAHAHAHAHa!!!

Edited by jonewer

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if we see rates around 12.00% again then I'm homeless along with thousands of other's who've been sold mortgages over the last decade on the promise of continued low rates

Geez, they're already trying to pass the buck for their own stupid decisions... this may turn into a full-scale crash even faster than I thought.

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Geez, they're already trying to pass the buck for their own stupid decisions... this may turn into a full-scale crash even faster than I thought.

who promised anybody that rates would stay at 4.5%??

I really like this quote posted by someone;

As the world's richest man Warren Buffet once said; "When the tide goes out it will be interesting to see who's not wearing swiming trunks."

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People have borrowed up to their absolute limit at incredibly low rates: now they can't even afford to cover a 0.25% rise. It's insane.

Spot on, except you may be understating the situation a bit - The skyrocketing bankruptcies & bad debt provisions show that many couldn't afford to service their massive loans _before_ the 0.25% rise, let alone after!

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Geez, they're already trying to pass the buck for their own stupid decisions... this may turn into a full-scale crash even faster than I thought.

Amazing response on there today. I think a lot of people will really feel the pinch now.

The light at the end of the tunnel has just got a lot brighter for us STR's!

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i can't believe some of the bitter and chippy comments on here today by people.

Why wish everyone else ill fortune and the country economic disaster?

Yes people do overstretch themselves and yes it is sometimes (not always) their faults, but it isn't all most people's fault that they are feeling the pinch, most of the time.

Some of you guys would do better to get saving and buy your own places and be less fussy about where you do rather than hoping for a crash that will bring you down as well as many others if it occured. Please, some perspective. If you're going to blame anyone, blame the banks, not Joe Average.

I used to like this site, never been any sort of regular poster at all but housepricecrash did help me get more educated when looking for a bargain property and people's postings and information contained here did sharpen my bargaining skills and confidence, however now i feel - and i'm sure its not just because i'm now a home owner and now "the enemy" - that the quality has gone from this site and all you get now here are bitter rants and gloating at other people's misfortune or ignorance, which is not always their own fault.

cheers

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Ah yes, you've got World Cup inflation in the UK. And inflation is literally going bananas in Australia...

Connection? Not between the World Cup and the Aussie banana shortage (due to the cyclone last year wiping out most of the crop). But there's a BIG connection between inflation popping up everywhere and central banks raising interest rates in response.

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Yes people do overstretch themselves and yes it is sometimes (not always) their faults, but it isn't all most people's fault that they are feeling the pinch, most of the time.

Some of you guys would do better to get saving and buy your own places and be less fussy about where you do rather than hoping for a crash that will bring you down as well as many others if it occured. Please, some perspective. If you're going to blame anyone, blame the banks, not Joe Average.

that the quality has gone from this site and all you get now here are bitter rants and gloating at other people's misfortune or ignorance, which is not always their own fault.

So I should go and live in a crime infested zone just because I can afford it? No way!

I've had people WITH a home gloating at me about rises, now its my turn to gloat about rates going up. Why shouldn't I? I'm gonna hopefully

get a better deal on my savings rate!!!

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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