Millions of people screwed over by the economic incompetence of the conservative party. No wonder they’re desperate to talk about Labour or small boats or whatever else it takes to get media attention off of this scandal.
The SNP can do nothing about Brexit which is why we are out of the EU – uless the SNP puts independence at the heart of the GE campaign. That means a strategy, a plan on process and a compelling message/campaign starting now. Right now.
Sorry but this is not a ‘Tory’ mortgage crises. No one twisted anyone’s arm to take out a mortgage they could only just afford. I get why people did but there has been constant chatter about interest rate rises for the past decade so people should have factored it in.
Banks don’t care. They are getting assets from bankruptcies at bottom dollar when the home owner is in negative equity. Home owner loses everything. When everything does crash, the banks have safe assets in property. Win-win. The house always wins. Pardon the pun.
I’m not a Tory but this headline is absurd. Look at rates in every developed market. They were at zero for years, and now they’re going up. The whole world follows the federal reserve. I can 100% guarantee that if labour, lib dems or basically anyone was in power we’d have the sane situation. Global rates have gone through the roof everywhere.
Capitalism is awesome. Full time workers can barely afford to pay their bills, food and shelter rates, and those who are doing well simply sneer and say they shouldn’t live if they can’t afford it. What an amazing cuntry.
Absolute melts on this sub had a melt down at me earlier for daring to suggest we should pay workers decent wages. Honestly, what an embarassment we are to ourselves. But hey, at least we uh, well, I guess we have a royal family that rewards war criminals and supports anti-democracy laws, so there’s that. Sometimes I think about all the “victims” of previous left wing revolutions.
This would have happened with a tory or labour gov cuz of global geopolitics
You can blame them for a lot, but this a damned long bow to draw, it’s a global issues.
Is there a calculation on how much of this is due to Truss/Kwarteng stint at the economic policy’s tiller?
I think the mortgage crisis is really to do with horrendous housing policies that encouraged speculators to treat homes as letting investments. That, combined with not raising interest rates and not properly regulating casino banking practices decades earlier led to crisis and artificially low lending that made prices explode. I hate the conservative party but new labour are as guilty here and it looks like we’re about to cheer in their return.
I’m as anti Tory as they come and think they are economically Illiterate vandals for the damage they have done to the economy with austerity and Brexit. But, anyone in power right now would be facing the same rate hikes, as we’re in the shadow of the Fed decisions. As much as I wish it wasn’t so, given the underlying economic weakness of the UK, the BOE truly had no choice but to stay lockstep with the Fed, unless we also wanted a Sterling crisis.
People overleverage on cheap debt, look for others to blame.
Nothing wrong with selling overpriced real estate and taking a loss.
This is not a Tory crisis, this is a Brexit crisis.
Cheap borrowing only leads to one thing. Assets inflate massively so normal working people have to get in huge amounts of debt.
We’re currently seeing the effects of 16 years of near zero interest rates on housing.
It’s the Brexit crisis. There are two Brexit parties in parliament. (Well – three, with the Ulster Unionists.)
The Tories are going to lose so hard next election, not because they are liars and bigoted. But because they have accidentally fucked over the entire middle class.
To quote Prince John: Rob the poor to feed the rich!
Guess what? Your home isn’t worth what you’re paying for it.
The whole market is grotesquely overvalued because of ridiculously low interest rates and a government who thinks an economy is based off selling houses to one another.
And look where we are now.
Let it all implode. Fucking this country for ruining the homeowner hopes for those who JUST WANT TO OWN A SINGLE HOUSE TO LIVE IN.
Sunak and his pals have no idea what it’s like to struggle day to day or week to week and say it’s your fault and have yourself to blame for your situation
The people that always moan on here are probably just jealous that they can’t fit in to modern society – I am wondering what they actually do – do they have a job – rely on benefits…or what?
Should have actually dealt with immigration when it became a clear issue.
Why aren’t more people in this country upset? Whenever I talk about how much the Tories have killed this country nobody seems to care? Why is everyone so passive about these cunts ruining our lives?
Poverty exists not because we can’t feed the poor but because we can’t satisfy the rich. EVERY job should pay enough for a basic standard of living.
Gotta keep that money rolling up the chain at all costs
Seriously. The only good thing left here is in your heads, if anything positive is left. This country is on fire. I have not met a young person who wants to live here long term. Nobody can afford a home. And if you can? Why own a nice house if all the parks are derelict & drug ridden. When all the streets at night are unsafe. When public services are broken. When health services are dead. Bye Third World Britain. Cya.
We just managed to get a 5 year fix on our mortgage a couple of months ago at 4.19%. We are taking a breath of relief that we didn’t delay confirming that fixed rate. Things would be quite tight financially for us if we got hit with the 4.5% rate!
27 comments
Millions of people screwed over by the economic incompetence of the conservative party. No wonder they’re desperate to talk about Labour or small boats or whatever else it takes to get media attention off of this scandal.
The SNP can do nothing about Brexit which is why we are out of the EU – uless the SNP puts independence at the heart of the GE campaign. That means a strategy, a plan on process and a compelling message/campaign starting now. Right now.
Sorry but this is not a ‘Tory’ mortgage crises. No one twisted anyone’s arm to take out a mortgage they could only just afford. I get why people did but there has been constant chatter about interest rate rises for the past decade so people should have factored it in.
Banks don’t care. They are getting assets from bankruptcies at bottom dollar when the home owner is in negative equity. Home owner loses everything. When everything does crash, the banks have safe assets in property. Win-win. The house always wins. Pardon the pun.
I’m not a Tory but this headline is absurd. Look at rates in every developed market. They were at zero for years, and now they’re going up. The whole world follows the federal reserve. I can 100% guarantee that if labour, lib dems or basically anyone was in power we’d have the sane situation. Global rates have gone through the roof everywhere.
Capitalism is awesome. Full time workers can barely afford to pay their bills, food and shelter rates, and those who are doing well simply sneer and say they shouldn’t live if they can’t afford it. What an amazing cuntry.
Absolute melts on this sub had a melt down at me earlier for daring to suggest we should pay workers decent wages. Honestly, what an embarassment we are to ourselves. But hey, at least we uh, well, I guess we have a royal family that rewards war criminals and supports anti-democracy laws, so there’s that. Sometimes I think about all the “victims” of previous left wing revolutions.
This would have happened with a tory or labour gov cuz of global geopolitics
You can blame them for a lot, but this a damned long bow to draw, it’s a global issues.
Is there a calculation on how much of this is due to Truss/Kwarteng stint at the economic policy’s tiller?
I think the mortgage crisis is really to do with horrendous housing policies that encouraged speculators to treat homes as letting investments. That, combined with not raising interest rates and not properly regulating casino banking practices decades earlier led to crisis and artificially low lending that made prices explode. I hate the conservative party but new labour are as guilty here and it looks like we’re about to cheer in their return.
I’m as anti Tory as they come and think they are economically Illiterate vandals for the damage they have done to the economy with austerity and Brexit. But, anyone in power right now would be facing the same rate hikes, as we’re in the shadow of the Fed decisions. As much as I wish it wasn’t so, given the underlying economic weakness of the UK, the BOE truly had no choice but to stay lockstep with the Fed, unless we also wanted a Sterling crisis.
People overleverage on cheap debt, look for others to blame.
Nothing wrong with selling overpriced real estate and taking a loss.
This is not a Tory crisis, this is a Brexit crisis.
Cheap borrowing only leads to one thing. Assets inflate massively so normal working people have to get in huge amounts of debt.
We’re currently seeing the effects of 16 years of near zero interest rates on housing.
It’s the Brexit crisis. There are two Brexit parties in parliament. (Well – three, with the Ulster Unionists.)
The Tories are going to lose so hard next election, not because they are liars and bigoted. But because they have accidentally fucked over the entire middle class.
To quote Prince John: Rob the poor to feed the rich!
Guess what? Your home isn’t worth what you’re paying for it.
The whole market is grotesquely overvalued because of ridiculously low interest rates and a government who thinks an economy is based off selling houses to one another.
And look where we are now.
Let it all implode. Fucking this country for ruining the homeowner hopes for those who JUST WANT TO OWN A SINGLE HOUSE TO LIVE IN.
Sunak and his pals have no idea what it’s like to struggle day to day or week to week and say it’s your fault and have yourself to blame for your situation
The people that always moan on here are probably just jealous that they can’t fit in to modern society – I am wondering what they actually do – do they have a job – rely on benefits…or what?
Should have actually dealt with immigration when it became a clear issue.
Why aren’t more people in this country upset? Whenever I talk about how much the Tories have killed this country nobody seems to care? Why is everyone so passive about these cunts ruining our lives?
Poverty exists not because we can’t feed the poor but because we can’t satisfy the rich. EVERY job should pay enough for a basic standard of living.
Gotta keep that money rolling up the chain at all costs
Seriously. The only good thing left here is in your heads, if anything positive is left. This country is on fire. I have not met a young person who wants to live here long term. Nobody can afford a home. And if you can? Why own a nice house if all the parks are derelict & drug ridden. When all the streets at night are unsafe. When public services are broken. When health services are dead. Bye Third World Britain. Cya.
We just managed to get a 5 year fix on our mortgage a couple of months ago at 4.19%. We are taking a breath of relief that we didn’t delay confirming that fixed rate. Things would be quite tight financially for us if we got hit with the 4.5% rate!