I don’t even know what to say at this point, there are so many problems with the housing market, all of which were avoidable.
House prices should never have been allowed to get as out of control as they are, people should not have been falling over themselves to buy over and above these inflated prices, the pandemic created a false demand for bigger houses as people assumed they were going to work from home forever, those same people are now going back to the office and no longer need that extra space they bought. It seems that every new house is a 3 or 4 bed detached or semi detached not aimed at first time buyers.
A decade of house price stagnation is needed but it wont happen because the homeowners won’t be happy that their illiquid asset isn’t gaining value. Prices can’t continue to go up either if the market wants younger people to buy the houses of the older generation that will begin dying off in droves in the next 10 years.
I’m so worried about my renewal that is due in April 2024. I really feel for those who have it even sooner.
The recent hike in inflation shouldn’t have come as a surprise for those who understand how inflation works. Especially when it’s largely driven by things like rising energy costs and energy companies trying to make as much profit as they can. Raising interest rates isn’t going to fix these problems – in fact, it might make them worse.
These higher rates hit the little guy the hardest. Small businesses are already struggling with higher costs, and higher interest rates could be the last straw. And let’s not forget the homeowners. The cost of their mortgage payments is going up, and some might not be able to keep up.
Coincidentally, this all plays into the hands of some big banks. Before the crisis hit, a few of them said they were looking to buy up lots of homes to rent out. Now, as interest rates rise and homeowners feel the pinch, these banks are perfectly positioned to swoop in and pick up some bargains.
This has got a lot of people questioning the Bank of England’s actions. Are they just following the standard playbook, or are they helping out the big banks at the expense of everyone else? A lot of people are wondering if the folks at the Bank of England really know what they’re doing.
Yet house price are going up as people are happy to pay more.. how?!
Weren’t the banks talking about going into the rental markets. Seems they will be happy when mortgage payments start to default so they can build those property stick piles!
I’ve just locked in for 5 years with Natwest got 4.4%
6 comments
I don’t even know what to say at this point, there are so many problems with the housing market, all of which were avoidable.
House prices should never have been allowed to get as out of control as they are, people should not have been falling over themselves to buy over and above these inflated prices, the pandemic created a false demand for bigger houses as people assumed they were going to work from home forever, those same people are now going back to the office and no longer need that extra space they bought. It seems that every new house is a 3 or 4 bed detached or semi detached not aimed at first time buyers.
A decade of house price stagnation is needed but it wont happen because the homeowners won’t be happy that their illiquid asset isn’t gaining value. Prices can’t continue to go up either if the market wants younger people to buy the houses of the older generation that will begin dying off in droves in the next 10 years.
I’m so worried about my renewal that is due in April 2024. I really feel for those who have it even sooner.
The recent hike in inflation shouldn’t have come as a surprise for those who understand how inflation works. Especially when it’s largely driven by things like rising energy costs and energy companies trying to make as much profit as they can. Raising interest rates isn’t going to fix these problems – in fact, it might make them worse.
These higher rates hit the little guy the hardest. Small businesses are already struggling with higher costs, and higher interest rates could be the last straw. And let’s not forget the homeowners. The cost of their mortgage payments is going up, and some might not be able to keep up.
Coincidentally, this all plays into the hands of some big banks. Before the crisis hit, a few of them said they were looking to buy up lots of homes to rent out. Now, as interest rates rise and homeowners feel the pinch, these banks are perfectly positioned to swoop in and pick up some bargains.
This has got a lot of people questioning the Bank of England’s actions. Are they just following the standard playbook, or are they helping out the big banks at the expense of everyone else? A lot of people are wondering if the folks at the Bank of England really know what they’re doing.
Yet house price are going up as people are happy to pay more.. how?!
Weren’t the banks talking about going into the rental markets. Seems they will be happy when mortgage payments start to default so they can build those property stick piles!
I’ve just locked in for 5 years with Natwest got 4.4%