platinumsage
HaveMyPassword123
The key part of all those graphs is the 21-22 post-pandemic line. Where it stops in 2022 is quite important, if as I said, the UK is a late follower of that trend.
How is raising interest rates supposed to help with the kind of inflation we are having now?
- Thread starter bimble
- Start date
The key part of all those graphs is the 21-22 post-pandemic line. Where it stops in 2022 is quite important, if as I said, the UK is a late follower of that trend.
BigMoaner
We will all go together
i am scared for my (ex) other half who has taken on the mortgage - she is on a tracker for teh next two years, and things are managable. can it be the situation where they wack another 1 or 2 hundred quid on teh mortgage after that, effectively meaning out ship sinks. i own 40% of the hosue but it's where my kids live and obv it is a concern.
not-bono-ever
meh
I have no nag in this race but QE and it’s chums only relatively recently tapered. When yer dealing with government debt at this scale for a decade ,it has to go hand in hand with dead interest rates
Is it manageable if it tracks up another 2%?
When the tracker deal comes to an end, she’ll want to get another deal. That’s true regardless of what is happening to rates. Because yes, it will immediately become more expensive.
Smokeandsteam
Working Class First
And remember the Government, the markets and the BoE response to this is to hike interest rates further taking even more money out of the economy.
elbows
Well-Known Member
Interest rate rises around the globe are now being placed at the centre of narratives about concerns of a global slowdown/recession, eg:
Fed rate hike: US interest rates hit 14-year high in inflation battle
The US unveils another sharp rate rise as it fights to bring soaring prices under control.
www.bbc.co.uk
brogdale
Coming to terms with late onset Anarchism
Using this thread for a vehicle for general points around inflation...the Guardian publishes this graphic from the ONS showing just how high inflation has been over the last year for the basic foodstuffs that poorer folk rely on to survive.
What shook me about these numbers is that they are already well out of date, being September YoY, and it's really scary to think about what's happened over the last quarter to dramatically worsen people's ability to feed themselves and their families. This country really is down the shitter.
What shook me about these numbers is that they are already well out of date, being September YoY, and it's really scary to think about what's happened over the last quarter to dramatically worsen people's ability to feed themselves and their families. This country really is down the shitter.
Sasaferrato
Super Refuser!
£900.00 per person?
Sasaferrato
Super Refuser!
When we bought this house, the mortgage rate was over 15%.
brogdale
Coming to terms with late onset Anarchism
Same, but what does that add to the current concerns about cost of living? Many different variables back in the late 80's.
8ball
AV REFUGEES WELCOME
That's one of the factors that made buying it affordable.
Sasaferrato
Super Refuser!
Rather hoping that it doesn't hit that level again.
We knew what we were signing up to, and mortgage rates steadily went down. It must be terrifying for people who bought at max affordability when rates were very low.
gosub
~#
Phillips curve - Wikipedia
Sasaferrato
Super Refuser!
Yes. The house was about 2.5 times my salary.
8ball
AV REFUGEES WELCOME
Imagine what it would have cost if mortgage rates had been 3 or 4 percent for a couple of decades.
ska invita
back on the other side
yes - per room
i met a young couple from Ireland in the pub the other day who moved to london because it was cheaper than dublin!!
this was posted on the bandwidth thread yesterday - its not an exaggeration
8ball
AV REFUGEES WELCOME
yes - per room
i met a young couple from Ireland in the pub the other day who moved to london because it was cheaper than dublin!!
this was posted on the bandwidth thread yesterday - its not an exaggeration
I'm sure it's palatial and they're just sleeping and working in the kitchen to save on heating.
MickiQ
In My Defence I was left Unsupervised
My nephew has quit his job in London and moved back to Crewe to live with his mother (my sister) and his stepdad since he was paying £750 pm for a 6"x6" room in a shared house in London (Golders Green I think) and the rent was about to go up again.
He reckoned he was on a hiding to nothing and realised he would never realistically be able to afford anything else if he stayed there. He says it just dawned on him that there was no way things were ever going to materially improve for him.
He has basically just had to restart his life at the age of 32.
To be fair, Crewe is not the only alternative to Golders Green. It’s not London or the north. If you’re willing to live in a town surrounding London (like Watford, say), that £750 would potentially get you a studio flat rather than a 6x6 bedroom. I guess it comes down to where work is and what commuting costs would be.
Pickman's model
Starry Wisdom
are you sure it was a six inch by six inch room? even a six foot by six foot room seems unlikely
Riklet
procrastinación
Not to blame the victim but so many people my age just unquestioningly accept rent rises without saying no or challenging it. I'm hoping this starts to change. 750 for a room is already really steep, even in London. especially for a box room! If people just move out it lets the letting agents and landlords get away with it.
Realistically what are they gonna do if loads of shared flats tell them to GTF? take them all to court when theyre still paying rent?
Realistically what are they gonna do if loads of shared flats tell them to GTF? take them all to court when theyre still paying rent?
Pickman's model
Starry Wisdom
as i've found out this morning, there's something like a 75 week rent for things to come to county court - and that presumably after mediation etc.
Pickman's model
Starry Wisdom
it's fucking ridiculous in dublin, it really is.yes - per room
i met a young couple from Ireland in the pub the other day who moved to london because it was cheaper than dublin!!
this was posted on the bandwidth thread yesterday - its not an exaggeration
MickiQ
In My Defence I was left Unsupervised
You have discovered my secret identity as a member of Spinal Tap, but yes he told me 6ft by 6ft
Pickman's model
Starry Wisdom
gosub
~#
Where abouts in London can you get a 2 bed flat for 900pmyes - per room
i met a young couple from Ireland in the pub the other day who moved to london because it was cheaper than dublin!!
this was posted on the bandwidth thread yesterday - its not an exaggeration
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