Caporegime
Yep.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Yep.
Ummm. Ok then
Man of Honour
Wouldn't surprise me if one of the outcomes of this entire thing is that the public sentiment becomes (through govt messaging or simply on reflection) that the public are not really responsible enough to make big financial decisions and as a result it's not practical for people to have such liabilities as houses. We should all just rent everything from the government and their corporate partners, amirite.
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Really sucks how the government is doing stuff to help people. I am so mad
The government has said they won't help people with mortgages.
Makes sense as a lot are BTL, so landlords will just pump up the rent to cover the difference...
Keeping the housing market on track.. and we're back to square one.
Interesting that starmers Labour have ruled out further rent controls too...
Makes sense as a lot are BTL, so landlords will just pump up the rent to cover the difference...
Keeping the housing market on track.. and we're back to square one.
Interesting that starmers Labour have ruled out further rent controls too...
Man of Honour
One of the best sources of a government's next actions is what they're saying they absolutely won't be doing.
Even if they were planning on it, it would be insanely irresponsible to tell people they would be doing so before actually announcing the specifics.
Soldato
I don't see how the government could help - beyond some kind of tax break.
It's not like they could pay a percentage of peoples mortgage payments - they'd never be able to make it fair.
They'd also be working against what BOE are trying to achieve.
The group that may well need help first anyway in terms of size and vulnerability may well private renters - as rents have gone crackers, and it's not like renters will get the equivalent to the 12 months grace on action from banks that seems to have been offered to mortgage holders.
Also - I saw this in the news today that was interesting, I wonder if that's people trying to clear a load off their mortgage...
Will be interesting to see what those figures are like for next month!
It's not like they could pay a percentage of peoples mortgage payments - they'd never be able to make it fair.
They'd also be working against what BOE are trying to achieve.
The group that may well need help first anyway in terms of size and vulnerability may well private renters - as rents have gone crackers, and it's not like renters will get the equivalent to the 12 months grace on action from banks that seems to have been offered to mortgage holders.
Also - I saw this in the news today that was interesting, I wonder if that's people trying to clear a load off their mortgage...
Customers withdraw record amount of savings in May
People withdraw £4.6bn from accounts in May - the highest on record, Bank of England data shows.
www.bbc.co.uk
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Man of Honour
What stands out to me there is the absolutely nuts spike in 2020. Actually makes me mad.Also - I saw this in the news today that was interesting, I wonder if that's people trying to clear a load off their mortgage...
Will be interesting to see what those figures are like for next month!Customers withdraw record amount of savings in May
People withdraw £4.6bn from accounts in May - the highest on record, Bank of England data shows.www.bbc.co.uk
Soldato
Lots of people sorting out their houses for the pandemic I would imagine. Extensions, garden rooms, loft conversions etc.
Edit: Lots of people moved as well, so maybe property deposits as well
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Man of Honour
That would show expenditure/withdrawal and a trough, what I'm referring to is the upward alike that indicates a huge rise in inward cash flow to people's accounts and investments.
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Man of Honour
It's less the handouts that I'm talking about and more just general covid policy response showing a clear spike in the ability for the average person to build fat stacks, it's such a stark bump I'm surprised they published the graph without editing the scale or some other such smoke and mirrors. But don't worry about that, we're on to next thing so inflation and economic turmoil is all down to Trump, or Elon tweeting something spicy, or Putin's abhorrent invasion of Ukraine and subsequent energy ransom
(no way this vulnerable position was our fault).
Soldato
I'll bet some people are happy they saved that cash now rather than blowing it. It'll probably run out long before things improve though.
?
I am not sure I've seen any large sentiment that blames our current economic stuff on Trump..much less Elon Musk's tweets. Trump hasnt been in office for over 2 years and is likely heading to jail so i'm not sure where you get that from.
The Ukraine war obviously has, for obvious reasons.
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Man of Honour
It's a joke, highlighting that the mainstream narrative rug sweeps the effect of covid response on the economy, instead focusing on external factors, all in service of avoiding blame for involvement in it.?
I am not sure I've seen any large sentiment that blames our current economic stuff on Trump..much less Elon Musk's tweets. Trump hasnt been in office for over 2 years and is likely heading to jail so i'm not sure where you get that from.
The Ukraine war obviously has, for obvious reasons.
Sunak ‘fuelled inflation by printing huge sums of money during pandemic’
Rishi Sunak has been accused of fuelling inflation by printing “huge sums of money” during the covid pandemic as the economic row in Conservative party continue
www.thetimes.co.uk
UK inflation rate: How quickly are prices rising?
The rate at which prices are rising is back above the Bank of England's target of 2%.
www.bbc.co.uk
State handouts and money printing responsible for inflation crisis, says top central banker
Bank of International Settlements adds that interest rates could have to remain high until 2027
www.telegraph.co.uk
What Causes Inflation?
Explore the causes of inflation, from increased demand and supply chain disruptions to government policies and global events. Learn how inflation impacts your finances.
www.businessinsider.com
To what extent did Covid cause inflation? - Economics Help
There is no doubt that as the economy emerged from Covid lockdowns in 2021, the world experienced a surge in inflation, not seen since the 1970s. There are many supply and demand factors, which have caused this unexpectedly high inflation. The first factor is that Covid lockdowns, especially in...
www.economicshelp.org
Covid-19 shock responsible for global inflation, says Australian central bank
Cheap electricity and strong labour supply limit price rises compared with other large economies
www.ft.com
I dunno, seems to me all the factors involved in inflation have been discussed over time.
Covid : a) Increase in savings/disposable income with b) disruption to supply lines leading to supply side shortages
Ukraine War : Food and energy instability
And the UK cherry on top with Brexit : More red tape leading to extra importing costs
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Soldato
It's less the handouts that I'm talking about and more just general covid policy response showing a clear spike in the ability for the average person to build fat stacks, it's such a stark bump I'm surprised they published the graph without editing the scale or some other such smoke and mirrors. But don't worry about that, we're on to next thing so inflation and economic turmoil is all down to Trump, or Elon tweeting something spicy, or Putin's abhorrent invasion of Ukraine and subsequent energy ransom
What are you angry about? If it’s the lockdowns say it, it can’t be “people started saving money” unless you didn’t? Help me out here.
It's less the handouts that I'm talking about and more just general covid policy response showing a clear spike in the ability for the average person to build fat stacks, it's such a stark bump I'm surprised they published the graph without editing the scale or some other such smoke and mirrors. But don't worry about that, we're on to next thing so inflation and economic turmoil is all down to Trump, or Elon tweeting something spicy, or Putin's abhorrent invasion of Ukraine and subsequent energy ransom
I would have thought it was obvious tbh...
We saved during lockdown because we carried on working but couldn't go out, couldn't go on holiday, couldn't do basically anything so all of that discretionary spend got saved?
Is it that hard to understand? I think you might be biting at the wrong thing here, wasting piles of money on dodgy PPE contracts is not the same as average people being able to save because there was nothing to spend money on.
I dunno but the public saving money trigging inflation seems unlikely, in the sense that one figure I've seen quoted for the amount of extra money saved by people and awash in economy to be around 15 billion. Given that the total amount spend by people in general must be many times that amount.
I'm blaming printing vast sums of money since 2008 as the main cause, with a side order of brexit and Ukraine.
I'm blaming printing vast sums of money since 2008 as the main cause, with a side order of brexit and Ukraine.
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