Wage inflation

[scooterscot]

Yes, I'll be happy to head back to London when that day comes

Ooh get you.

Right time to tackle the München traffic..

[AtW]

Alexi - most mortgage rates have stayed constant around the 5-6% because what the bank charges and what the BOE are two different things.

Well in this case what stops raising BoE rate back to 5% to deal with inflation?

[AtW]

I have a suggestion. Instead of talking to me, go and find some thirty something, forty something people earning average wages who have saved for 10 years and 5 years ago bought an overpriced house they can just about afford

They should have bought cheaper house, maybe even in Scotland - anywhere in the UK is better than risk of overextending oneself on massive debt given that only an idiot or home owner believed that house prices will only go up.

[AtW]

You don't live in London though.

Nobody forces you to live in London, especially if you work in IT - frankly if half the people on here spent as much time on Plan Bs there would be another Silicon Valley in UK.

[AtW]

He was....

That's not true, I never used any benefits other than:
1) no council tax when I was student
2) 25% discount on council tax due to me living on my own
3) student travel card

That's it.

[AtW]

Despite never having HAD a mortgage, he regards himself as an expert upon them.

I never tried heroin, that does not mean I don't know enough about it to avoid it.

Mortgage is just another kind of debt - the most important part in dealing with debt is making sure you don't overextend yourself and also stress test the system with changed parameters: being out of job, rates go through the roof, banks don't lend so no liquidity in the market (can't sell).

[AtW]

Is the best you can do chaps?

Bring it on!

<---- don't forget to give me rep generously.

[gingerjedi]

Someone re-boot AtW, he's seems to be stuck in an argumentative posting loop... again.

[AtW]

Someone re-boot AtW, he's seems to be stuck in an argumentative posting loop... again.

I'd keep posting but I need to do quick clean up before "sofa and bad movies party" commences later today in my mini-penthouse, I'd invite you all there but I want to live long enough to afford a house first

[shaunbhoy]

I never tried heroin, that does not mean I don't know enough about it to avoid it.

Mortgage is just another kind of debt -

Disingenuous. A mortgage is a debt you have on a mandatory outgoing i.e. somewhere to live. Not quite a luxury item for most of us anyway.

the most important part in dealing with debt is making sure you don't overextend yourself and also stress test the system with changed parameters: being out of job, rates go through the roof, banks don't lend so no liquidity in the market (can't sell).

All well and good, but in this country if you followed your example, without the aid of a crystal ball, then you would likely end up living in some poxy bedsit with little furniture, paying someone else's mortgage for them.