1 in 79 Brits are property millionaires

[pjclarke]

We're getting poorer then

https://www.theguardian.com/uk-news/...ises-by-200000

[milanbenes]

We're getting poorer then

https://www.theguardian.com/uk-news/...ises-by-200000

that's success eh

half an hour ago the Torygraph said 1 in 79 Brits are now millionaires

and

half an hour later the Grauniad says that 1 in 65 Brits are now millionaires

it just gets better and better doesn't it

Milan.

[pjclarke]

that's success eh

half an hour later the Grauniad says that 1 in 65 Brits are now millionaires

Milan.

Um "This article is 2 years old"

[milanbenes]

Um "This article is 2 years old"

that's just a detail

you have to focus on the bigger picture

Milan.

[The_Equalizer]

Um "This article is 2 years old"

So our decline is slower than over half-an-hour. Yay.

[scooterscot]

I don't see a house price crash until interest rates get jacked up. House prices in relation to interest rates aren't that high. However if interest rates do get jacked up there will be an almighty crash.

Largely I agree... and I see two scenarios playing out.

1) The government are forced to put up interest rates as inflation takes hold.

2) They can put up interest rates now to cushion the fall.


History tells us time and time again, always better to act than react.

[eek]

Largely I agree... and I see two scenarios playing out.

1) The government are forced to put up interest rates as inflation takes hold.

2) They can put up interest rates now to cushion the fall.


History tells us time and time again, always better to act than react.

Monthly repayments (what are they) are only low if you continually remortgage otherwise Standard Variable Rates are 3-4% for owner occupied properties and 4-5%+ on BTL loans... The changes I referred to earlier mean that for many BTLers they no longer have the option to remortgage every other year and find a new low rate and may have no choice but to pay the SVR on their loan..

Hence I believe interest rates may be irrelevant here. Unless people find a means to continue to remortgage the interest rates they pay may be rising anyway...

[MarillionFan]

I pay 0.49% on my borrowing. It's a laugh innit.

[eek]

I pay 0.49% on my borrowing. It's a laugh innit.

Yep I screwed up in 2006 when expecting inflation to hit moved from a tracker loan to a fixed rate loan - in retrospect that wasn't the best move but I didn't think the central banks would be this blooming useless.

[sasguru]

I doubt you're going to see property growth for a while. My BTLs are sold so that's nice.
Now going through sale of main property.
Idea is to buy something more modest in a nice area (3 bed for 800Kish) as a base and squirrel the surplus loot abroad.
Thus I will have minimised my footprint in the UK and made the most of the boom years