Mortgage Rate Rises

TheOracle said:
I'm worried for my kids. Think they will be living with us until they are 30, and then they'll have to be saving up many hundreds per month for the deposit.
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So many obstacles for next generation.
Fills me with dread for them. My sister has just had a son... Makes me wonder what his life will be.
 
413x said:
So many obstacles for next generation.
Fills me with dread for them. My sister has just had a son... Makes me wonder what his life will be.
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I'd suggest you/parents need to build confidence, skills and aspirations in his childhood that means he can go work abroad in young adulthood. Then he won't have any fear of leaving here and make a life somewhere better.
 
danlightbulb said:
I'd suggest you/parents need to build confidence, skills and aspirations in his childhood that means he can go work abroad in young adulthood. Then he won't have any fear of leaving here and make a life somewhere better.
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Projecting twenty, thirty years ahead and assuming everything in the world remains the same is stupid. Yes if you are employable personable and speak the language you can get a good job in most places, EU, USA, Australia etc. today. If you just want to bum around doing bar jobs, not so much.
 
TheOracle said:
I'm worried for my kids. Think they will be living with us until they are 30, and then they'll have to be saving up many hundreds per month for the deposit.
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lol one of mine did .. no hardship .. got his house has money in the bank .. no problems .. him and his girlfriend are happy .... worth it :)
 
Hagar said:
Projecting twenty, thirty years ahead and assuming everything in the world remains the same is stupid. Yes if you are employable personable and speak the language you can get a good job in most places, EU, USA, Australia etc. today. If you just want to bum around doing bar jobs, not so much.
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Yeah. 20 years ago from now. Looks incredibly different.

World is changing faster and faster.


If climate change consensus is correct, it's a bit of a frightener about next 30 years.
I asked my sister (who wants kids and believes climate change is going to be bad) how she reconciles having kids. She admitted it's a bit of selfishness (wants kids) and also hope that it won't be that bad.
 
danlightbulb said:
I'd suggest you/parents need to build confidence, skills and aspirations in his childhood that means he can go work abroad in young adulthood. Then he won't have any fear of leaving here and make a life somewhere better.
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I think just setting them up to have lots of options will be better focus. We don’t know what the world will be like when they grow up. You can also make a great life in the UK so they shouldn’t fear that either.
 
Looking forward to the deep recession when millions of people are on 6% plus rates and no one is spending any money apart from on their mortgage. Its OK though, in 2-5 years people will have money again.
 
It has got to levels where it is worrying because it just doesn't look like it's peaking yet. I think there was some hope that they might peak about now, then slowly come down a couple of percent over the next couple of years. It just feels like they might just keep rising up to 10% right now. How many more times are we going to hear people say they simply cannot go any higher because XYZ would happen, only for them to rise again and again and again.
 
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Trifid said:
With the bank of England determined to increase rates to push us into recession and associated job losses, yes 7% seems likely. https://www.bbc.co.uk/news/business-66152690

Especially when businesses seem to want to continue to see growth. https://www.bbc.co.uk/news/business-66156713

How long will it be before the government finally act instead of letting the bank of England continue and fight the economy.
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Aren't the government acting now by trying to screw everything up as much as possible?
 
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