wages have massively outpaced inflation over the past few years... and thats with net immigration in the hundreds of thousands

plots have got smaller and more expensive - a property my parents generation afforded on 1 modest wage would take 2 wages well above median wage to afford now

it's not even remotely close

thats more to do with interest rates than population or anything like that...

nope

it's both

they would still have to pay thousands a month for the same size home today on a much smaller loan

demand >> supply

which is why its great that inflation kicked in.. rates went down.. and now its easier to pay off the relatively small loan

if the interest rates were much higher then prices would be lower, but they would be equivalently unaffordable to the way they are now

Also, interest rates are not going to go up now

or anytime in the short or medium term future

they will crawl up

but it depends a bit on the next Carney

Nah, the entire system has been debased, they won't go up

we might get a hawkish BoE leader who puts them up a point a year

theyre supposed to go up a quarter point before this december

they do that, they'll crush the housing market and make people homeless, so nah

not necessarily

They can't do anything except raise it extremely slowly without crippling people

for example....

And even small increments in interest rates will suck so much spending power out of the system it'll stall growth

when I got my 5yr fixed - the base rate was at 0.5% and my rate was 1.79% ... that same mortgage is now at 1.59% and the base rate is 0.75%

How much of that is because government bonds are going negative in large chunks of the western world?

I.E. it's not a sign of a healthy economy

banks are still competing for customers too.. so up-ing the base rate wont necessarily crush people

Putting it up 1% will

Putting it up 5% definitely will

I mean if they put it up another quarter point and at the end of my term the mortgages are still at 1.79% then it makes no difference to me

and theyre not going to put it back to 5% for a long while... it will be a crawl back... unless there is a massive boom

There'll be shit tons of people not on a fixed rate for whom a 1% hike would cost them a fortune

Either way, it doesn't resolve the need to prevent population levels rising in England

I remember having a fair amount of savings back in 2007 and I was getting something like £100 a month just in my current account

think it was in the region of 10k or something... which was a fair amount to save up for a younger lad

then again Ive been working since I was 14 😛

The days of interest-bearing bank accounts is long gone, and won't be coming back any time soon

https://www.rt.com/uk/469189-saga-brits-only-cruise-brexit/

I'm personally glad that potentially the next leader of the Country won't be a Marxist fool, oh wait... https://www.youtube.com/watch?v=pZvAvNJL-gE

I fought the downfall of Western Civilization was a tragedy now I know it's a commedy.

I dont need to watch that to guess he said other places were doing it wrong... but Ill watch later either way

@Holincxas Know, he ignores that entirely, he speaks from a perspective of ideology and then points the finger at the apparent failings of capitalism