Not in Australia, we're getting a trade deal with the EU, can't have nasty foreign hands picking our 1st quality exports. Your lot could get a cut and expose us all to mad cow disease.
"let’s vote to indulge our instincts and to hell with the car workers who will lose their jobs.".........this is a statement you made.
You are clutching at straws including Leeds as a remain part of the country dbc 50.3 voted to remain to 49.7 who voted leave,(less than 2,000 difference) everywhere bordering Leeds voted leave.
The will of the people was nationally not regionally Eric, that was made clear at the time of the referendum.
Wrong. Not just in 1979. I speak from personal experience. It was 17% when we bought our first house in 1982. But there's more to it too: For a start, you had to be saving for at least 2 years with a bank/building society before you could apply for a mortgage with them. We'd each saved at different places, so got knocked back. We had to use a single branch building society. Upside, quicker mortgage. Downside, 19%. These days, almost instant at 1-2%. 100% mortgages were available. We opted for 95%. Both carried a prohibitive extra cost, but we had no option - and actually weren't told of the extra cost. These days, it's spelled out. Which is a good thing. Lawson was Chancellor then, and used interest rates to control the economy. It wasn't unusual to have 3 changes a year. Impossible to plan anything. You might have decided to commit to buying something on HP, then the following month, the mortgage went up by more than you could cope with, especially with the new commitment. Rules were tighter then for getting a mortgage. Financial institutions used salary multipliers to determine your mortgage entitlement, with a wide spread of variance. So although house prices might have been 2.8x salary (I take your word on that as I don't know), it didn't matter if you only got a 2x mortgage - which was common. Lenders forced you to take out expensive life insurance policies at specific institutions. There was no choice in the matter. The institutions chosen were probably the ones that gave the best kick-back. Worked out for us ok in the end. 2 strokes of luck. First, discovered than an old college mate was assistant manager of the local Abbey National. Just told me to sign the form & he'd fill it in (with made up stuff). A few months later, when the mortgage kicked in, Lawson dropped the interest rates from 17% to 15%. Whoop de do da day!!!
You needed a mortgage to buy your first cave with interest rates like that, I bet you had to club a lot of dinosaurs to get your money.
Easy WJ, don't burst his bubble, he thinks that everyone born before 1960 walked around with gold coins falling out of their pockets, and didn't have to work for it.
The other thing is purchase prices are higher compared to earnings. Partly that is compensated for by the fact lenders 4.5 times (it used to be 3 times) but it does not fully compensate.
House prices are spiralling because we have historically low interest rates and huge demand. There will be a correction as there always is. I had to rent out my first house because the mortgage was more than I earned a month. That was 1989. The younger generation seem to have little respect for older people nowadays. My parents worked their socks off to provide for us. My dad worked days and my mum worked nights. No childcare and no time off for stress. They didn't steal anything from me. Older people have been on this floating ball longer than us younger ones and I respect that. Maybe some of the younger generation should take a step back.
I was being specific about those posting on here. I didn't realise that you had accepted the result, I apologize for judging you. I know many who voted remain who have accepted the result. I don't trust polls because it all depends on who and what you ask so I'm not interested in the methodology. It's a guess in all but name.
It's not demand that is the issue (for housing that is always going to exist) it's supply. https://www.economicshelp.org/blog/2197/housing/rising-house-prices/ Respect is earnt by actions which are variable and not just by living. So maybe there are reasons why the younger generation seem to have so little respect for older people nowadays.
https://www.ft.com/content/0e38ae9e-4a16-11e7-a3f4-c742b9791d43 (don't worry we're all just generic unique individuals)
