Originally posted by LucidDementia
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Under 45? Oh dear!
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Originally posted by PurpleGorilla View PostTempered by stricter lending practices.
I also don't believe globalisation would be such a huge problem if the government had more sensible domestic policies, rather than trying to run a ponzi scheme economy. The rest of the world was bound to develop at some point and there is no stopping that.Comment
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Originally posted by Zero Liability View PostIt wasn't just that. Monetarism had just entered the scene and the government could still not restrain its borrowing habits, which put pressure on interest rates. Those rates were not the product of market forces (much like ZIRP/NIRP is not) but of "experimentation". Of course society has become so debt-addicted that the positive side of higher interest rates - saving is more rewarding - is weighed down by the fact that it makes it pricier to borrow, even though you may not have to borrow if saving were more rewarding. Thus the compulsion to keep interest rates down at stupidly low levels, fuelling demand for credit, pushing up housing prices, stimulating the demand for credit...
I also don't believe globalisation would be such a huge problem if the government had more sensible domestic policies, rather than trying to run a ponzi scheme economy. The rest of the world was bound to develop at some point and there is no stopping that.Comment
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Originally posted by PurpleGorilla View PostWhy do you always use 1990? You pick an extreme to try and make a point.
1985 teachers average salary £25k average house £34k, rates 11%
2014 teachers average salary £55k average house £195k rates .5%"You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by PurpleGorilla View PostWhy do you always use 1990? You pick an extreme to try and make a point.
1985 teachers average salary £25k average house £34k, rates 11%
2014 teachers average salary £55k average house £195k rates .5%
Edit: WSES.
Edit: £9950Last edited by expat; 15 December 2015, 14:50.Comment
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Here are teacher's salaries from 1985, starting salary was 6.5 grand
http://hansard.millbanksystems.com/w...s-salary-rates
Graduate starting salary about 6.5 grand and salaries rose slowly, house price 35 grand, multiple 5.23 interest rates 11.5 % NOTE INTEREST RATE 11.5%
I'll repeat that just in case it gets overlooked, interest rate 11.5%
calculate the mortgage at 5 times earnings when interest rates are at 11-12 %Last edited by BlasterBates; 15 December 2015, 15:00.I'm alright JackComment
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1985 teachers average salary £25k average house £34k, rates 11%
You shouldn't discredit your arguments with fantasy, you will not persuade any of us old dogs (i.e. Me), on here, with that approach.The Chunt of Chunts.Comment
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Under 45? Oh dear!
Originally posted by MrMarkyMark View PostBallcocks, just not true at all.
You shouldn't discredit your arguments with fantasy, you will not persuade any of us old dogs (i.e. Me), on here, with that approach.
http://dera.ioe.ac.uk/22821/1/SN01877.pdf
My bad - might have used US data by mistake. Apologies.... It didn't look right at the time TBH...
Ps: I do try to underpin my arguments with data. I don't think any of you could not say I have a strong love of data visualisation!Last edited by PurpleGorilla; 15 December 2015, 15:05.Comment
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Originally posted by PurpleGorilla View PostMy bad. I think I used US data by mistake. I thought it didn't look right at the time.
FWIW, I own no property either.
Cash rich, I could easily buy, I just don't want to at the moment, for obvious reasons.
i.e. I can't see the UK Ponzi property scheme rumbling on forever.
That's what makes other countries look attractive, try and think out of the boxThe Chunt of Chunts.Comment
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Originally posted by MrMarkyMark View PostFair enough, less of an argument there, now then.
FWIW, I own no property either.
Cash rich, I could easily buy, I just don't want to at the moment, for obvious reasons.
i.e. I can't see the UK Ponzi property scheme rumbling on forever.
That's what makes other countries look attractive, try and think out of the boxComment
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