Housing market phase 3

[Cliphead]

Who are these people and will they buy some magic beans?

Plan B?

[Gonzo]

Maybe they believed brownstuff saying he'd bring about the end of boom and bust.

How could he have brought an end to boom and bust?

I thought that Nigel Lawson did that in the 1980s

EDIT I think his actual words were "We have abolished the business cycle." but that meant the same thing.

[AtW]

Why did people assume interest rates would stay < 5%?

They were lied to - brokers certainly were saying that don't worry about overextending yourself because you will just switch morgage to another cheap fixed term.

[MrRobin]

Who are these people and will they buy some magic beans?

Do you do a finance deal?

[Bagpuss]

Maybe they believed brownstuff saying he'd bring about the end of boom and bust.

When I had a mortgage, I considered if I would be able to afford it should rates double. I can't believe all these stories of people budgeting on little or no movement in interest rates from historically low levels. Who are these people and will they buy some magic beans?

[MrRobin]

Didn't work too well for that Latvian woman in Scotland did it!

[PAH]

or just the head-in-the-sand approach to life?

Didn't work too well for that Latvian woman in Scotland did it!

[PAH]

Why did people assume interest rates would stay < 5%?

Maybe they believed brownstuff saying he'd bring about the end of boom and bust.

[KathyWoolfe]

``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''

Why did people assume interest rates would stay < 5%?

short-term memory loss maybe?

or just the head-in-the-sand approach to life?

[Bagpuss]

``This has been a horrible shock,'' said Sue Freeman, 43, a health researcher living in North London. She comes off a five- year mortgage rate of 4.65 percent next month and her lender wouldn't offer a new deal below 7 percent. ``I went into panic mode. I thought we'll never be able to afford a mortgage again.''

``My biggest fear is that when I try to re-mortgage it won't be accepted,'' said Robin Bingeman, 34, a product manager in southwest London, whose monthly payments are scheduled to rise to 2,600 pounds in May from 1,700 pounds. ``I had to go back to my employer and say I need a raise in order to survive.''

Why did people assume interest rates would stay < 5%?

[Francko]

Looks like we've moved into the

disbelief->denial->panic->anger->acceptance

phase

So it's all finished? Let it be.

[BlasterBates]

Looks like we've moved into the

disbelief->denial->panic->anger->acceptance

phase