Caravan Monster 323 Posted May 2, 2017 Report Share Posted May 2, 2017 With house prices at around 6x annual household income (it was 3x in 1997) and interest rates way way lower than they ever have been Interest Rates Since 1975 it's going to be exciting when it goes. Things fueled by very cheap credit like universities and cars are other factors. Asset prices have been over inflated by cheap money and either people will find their assets are not worth what they were, or else they will find new ways to reduce the value of money (can't reduce interest rates much further) and the value of labour / wages. Which way will it go? Roll the dice 1 Quote Link to post Share on other sites
ChrisJones 7,975 Posted May 2, 2017 Report Share Posted May 2, 2017 Don't forget lack of innovation. We've got round the problem with foreign labour, since 97. Brexit could really nail that home. Quote Link to post Share on other sites
Qbgrey 4,143 Posted May 2, 2017 Report Share Posted May 2, 2017 every oned got all thier stuff on tick,see how many new cars are on the roads now,hoovers,sofas,furniture, house,even insurances paid monthly.if it goes its going bring alot down. Quote Link to post Share on other sites
WILF 47,584 Posted May 2, 2017 Report Share Posted May 2, 2017 None of this "wealth" actually exists.....they just printed a shit load of money in the last recession and called it solved! Every f****r is living off their kids and grand kids....... The only good bit is, they can't drop the charade so for the time being you will get taxed to f**k to pay for your "wealth" and your kids will get it twice as bad. 1 Quote Link to post Share on other sites
Squirrel_Basher 17,100 Posted May 2, 2017 Report Share Posted May 2, 2017 Recessions are conjured up in the mind by hearsay and scaremongering and have no financial hardship to those who dont listen to the bollocks . Quote Link to post Share on other sites
Nik_B 3,790 Posted May 2, 2017 Author Report Share Posted May 2, 2017 every oned got all thier stuff on tick,see how many new cars are on the roads now,hoovers,sofas,furniture, house,even insurances paid monthly.if it goes its going bring alot down. That was the bad side of dropping interest rates, now they can't raise rates because that will pop the debt bubble but if they don't it will keep getting bigger. Quote Link to post Share on other sites
kanny 20,724 Posted May 2, 2017 Report Share Posted May 2, 2017 Ffs nik I've just ordered a new sofa. 1 Quote Link to post Share on other sites
low plains drifter 10,721 Posted May 2, 2017 Report Share Posted May 2, 2017 What happened to that double dip recession yoke is that not knocking about these days ? Quote Link to post Share on other sites
Nik_B 3,790 Posted May 3, 2017 Author Report Share Posted May 3, 2017 i sold everthing i own to buy my home of dreams,got no morgage now,great feeling not owing those fukin banking c..s. every oned got all thier stuff on tick,see how many new cars are on the roads now,hoovers,sofas,furniture, house,even insurances paid monthly.if it goes its going bring alot down. My dear old Grandad had a saying......"out of debt.....out of danger" The problem with today's society is that people are encouraged to live beyond their means....and the silly sods do ! I agree with both of you. At the moment I don't see any reason to try and pay off the mortgage since the interest rate is so low but I am trying to spend as little as possible and save enough so I could pay off most of it if needed. 1 Quote Link to post Share on other sites
Qbgrey 4,143 Posted May 3, 2017 Report Share Posted May 3, 2017 its too easy to borrow thats not helping,my mate owns a vauxhall,and vw,skoda dealers,new cars,he said he cant sell enough,all finance.but reall i suppose debts roughly the same as yrs back.1989 my mortgage was 740 ,i was only earning 1000 a month.had to do 7 days to help Quote Link to post Share on other sites
tatsblisters 10,271 Posted May 3, 2017 Report Share Posted May 3, 2017 i sold everthing i own to buy my home of dreams,got no morgage now,great feeling not owing those fukin banking c..s. every oned got all thier stuff on tick,see how many new cars are on the roads now,hoovers,sofas,furniture, house,even insurances paid monthly.if it goes its going bring alot down. My dear old Grandad had a saying......"out of debt.....out of danger" The problem with today's society is that people are encouraged to live beyond their means....and the silly sods do ! I agree with both of you. At the moment I don't see any reason to try and pay off the mortgage since the interest rate is so low but I am trying to spend as little as possible and save enough so I could pay off most of it if needed. Same here mate I could pay it off tomorrow but it would wipe our savings out so would sooner have a few good holidays every year to break the hum drum groundhog day of doing a shitty job in a warehouse. Quote Link to post Share on other sites
tatsblisters 10,271 Posted May 3, 2017 Report Share Posted May 3, 2017 i sold everthing i own to buy my home of dreams,got no morgage now,great feeling not owing those fukin banking c..s. every oned got all thier stuff on tick,see how many new cars are on the roads now,hoovers,sofas,furniture, house,even insurances paid monthly.if it goes its going bring alot down. My dear old Grandad had a saying......"out of debt.....out of danger" The problem with today's society is that people are encouraged to live beyond their means....and the silly sods do ! I agree with both of you. At the moment I don't see any reason to try and pay off the mortgage since the interest rate is so low but I am trying to spend as little as possible and save enough so I could pay off most of it if needed. Another one of the old boy's sayings was ...."spend a little......save a lot". And the one saying theirs no pockets in a shroud.lol Quote Link to post Share on other sites
bob84 189 Posted May 3, 2017 Report Share Posted May 3, 2017 The only thing I can lose in another recession is my job I lost what I had saved so I couldn't careless once the kid's and wife are happy I'm happy once I can get out with the dogs . 1 Quote Link to post Share on other sites
jigsaw 11,897 Posted May 3, 2017 Report Share Posted May 3, 2017 Im not sure people are aware but theres hundreds of families living out of Motels and B&B's after being evicted out of their homes by the banks,the same cnuts that caused the financial crash originally..people are still trying to get their lives back ,never mind the next recession,and it was great for the 18-40 year olds in the past,they had a chance of emigrating and riding out the devastating times ,the older generation and lots of married men with young kids had no way of leaving it all behind them,,,lets get over the last recession first,before we worry about the next one to come 1 Quote Link to post Share on other sites
Nik_B 3,790 Posted May 5, 2017 Author Report Share Posted May 5, 2017 This has never happened before...cost of interest on US government debt has risen above Half a Trillion Dollars Quote Link to post Share on other sites
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