This Is something that confuses the life out of me. My house has quadrupled in value in 20 years, lovely but so has everybody else's, if you wanted to move its still not helped. Oh and where are your 20/30 year old kids living? With me because they can't afford a house. It's a nonsense
actually if you are wanting to move up the property ladder rising prices make it more difficult as the cash gap will have increased .
I was always astonished that Boris Johnson was even considered as a serious candidate for PM the first time round - let alone actually winning. That he could possibly be brought back is beyond belief. British politics in the Thatcher era was like a horror film, now it's become a surreal black comedy.
Yes. As I said, my house value as increased 80% so potentially got lots of equity compared to when I started. However, it's the interest rates that will kill me. Already paying as much as I can and the mortgage runs for maximum length (up to retirement age) The irony is, if you lose a house you have to rent and that's a lot more than the mortgage
How does having lots of equity help peopl bridge an increasingly large gap. Should point out my comments are general as i'm fairly sure your property has exceeded the norm due to all the work you did on it .
That's why, when you retire, you move to Belize, or some other expat paradise location where you can buy a cheap house and the money from the sale of your home back in Britain will give you lots of ££££ to help you live out your retirement.
As with most things in this country, the housing market only benefits the very few. If you can buy property without a mortgage, sit on it for 20 years and then sell, great investment. For the rest it's smoke and mirrors.
Didn't say it did. Having equity opened up more mortgage options (if you didn't have much equity to start with)
just repeated something someone had already said. That's what happens when you reply to something 2 pages back without reading the rest of the thread.
Quick query for everyone more knowledgeable on here than myself, well for everyone then. The whole inflation thing is being driven by the basic costs of gas & electric going up, or the cost of fertiliser going up etc Regardless of supply and demand, if the building blocks of everything have increased, i can't see how reducing demand would make prices fall, if it just costs more to make? I'm unsure if I explained myself well enough there, but I've tried my best.
In theory if demand is less, then the people at the start of the process will have too much of it to sell and will need to sell at a lower price in order to try and sell everything. If you had 1 painting and 5 people want it. You can up the price and get a bidding war. if you have 5 paintings but only 1 person wanting it, you will have to lower the price as they are in the driving seat otherwise you end up not selling any of them.
It doesnt make the price fall, it is just trying to remove money from the market so it stops increasing again and again. Since covid we have shortages from China in all sorts of stuff but in reality we have a **** tonne of money pumped into the market by people saving their commenting bills or whatever. We then see pre Russia war inflation ramping up as everyone wants something but there not enough Then.putin has his empire brainfaet and the cost of oil and gas skyrockets. There's not enough grain as ukraine is blockades and so forth amd so on Making people pay banks and not buy nice things is the only lever to reduce the inflation The eu for 30 years was targetting 2% year on year inflation. All the levers they had were designed to do that and not make growth. Look at 2008 crash. They didn't start printing money until 2 years after usa and us. The target will not be to reduce the prices. It will be to hold them where they are even if they are grossly inflated. The price of petrol in 2008 was what? I can't recall but it was a lot less than in 2014 or 2016 or 2019. The 10 quid for butter is here today. The only question is will it be 20 quid in a years time!!!! Same for cost of energy. The price cap is the first thing hunt went after. He knows he cannot sustain the cap so has taken the step now so next April it won't be resisted. Nobody can afford it but only a massive financial crash will correct these number And that's the scary part. The best the tories can do is hold these prices. We all need to suffer worse than 2008 to correct them. And that includes price of houses etc.
