House prices going up

[norrahe]

DP's house is in la la land.

Is that what they call Swindon these days?

[PAH]

Now putting a 15% cut into context of house prices going up and it all starts to look a bit like la la land.

It's worse than that.

Many people have lots of existing credit card debt that is barely managable, despite all the juggling they do to keep the card interest rates as low as possible.

Then they've been withdrawing equity from a house that could well end up in negative equity soon, if not already, so are really just getting more credit at a low rate.

Both these situations are going to go tits up when the interest rates start to rise. Not to mention what'll happen if the cuts are so severe that we see masses of public sector job losses, the sector that happens to employ a majority of the working population by the looks of things.

I've got the popcorn ready, things are going to go Hollywood pretty quickly and soon.