[cite]Posted By: Kentred[/cite]
i am no economist but surely without the high mortgages being thrust on society for the banks profit then houses would have been cheaper!
You're definitely not an economist. The mortgage rates "thrust on society" are at their lowest level for years.
If mortgage rates were lower, history shows that generally morgage rates are driven by the interest rate (set by the bank of England/Government) and generally as interests rates fall, prices rise. Not because of banks or MPs, because people work out how much they can afford on a monthly basis and will pay what they can afford. Lower interest = can pay more. Vendors know this and knock the asking price up. You think Banks control people's minds. Unfortunately greed and daftness usually control people's minds.
Apparently this Morley fella has been sufferring under the stress and strain of what those nasty people in the press and the general public have been saying about him.
I feel sorry for him in the same way I feel sorry for the "bad things" said about that Adolf fella from Austria - the verminous shit pot..
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You cleaned yourself up yet ?
If mortgage rates were lower, history shows that generally morgage rates are driven by the interest rate (set by the bank of England/Government) and generally as interests rates fall, prices rise. Not because of banks or MPs, because people work out how much they can afford on a monthly basis and will pay what they can afford. Lower interest = can pay more. Vendors know this and knock the asking price up. You think Banks control people's minds. Unfortunately greed and daftness usually control people's minds.
I feel sorry for him in the same way I feel sorry for the "bad things" said about that Adolf fella from Austria - the verminous shit pot..