modern living

[binky]

I’m not sure it’s hard for them now, 5% deposit on first time buyers, mortgages spread over a longer period to reduce annual costs, the bank of mum and dad too readily too hand. Cars they can rent per month, I’m currently working in London and all I see is the twenty somethings driving new (within 1-3 years old) Mercedes, BMW’s, range rovers, Porsche’s, etc, I don’t ever remember being in that position in my 20’s? So whose paying for all these expensive motors, certainly not your average shop worker, maybe your average drug dealer or crim? 

The balance is totally wrong imo, what are these kids actually learning? 

 Because they don't stand a chance on a house, they buy nice cars instead. As for 30 year mortgages, that's not to help, it's to make an unaffordable house just affordable.... If you think about compound interest over 30 years on say £150k they will be paying far more money back than we ever did. Low interest rates also make property more affordable, but god help the youngsters if interest rates rise  :Hitsthefan:

 

[Sharpend]

Binks you are correct in that more will be paid back, but who nowadays looks at the long game, everything is here and now so the total figure is not important. 

I dare say that there will be a government protection if interest rates were to raise substantially, we really couldn’t afford that many homeless persons could we? 

 

[binky]

I do, my pensions will come good in the next 5 years, I also started a pension for my son when he was 5.

Any sharp interest rate rises will hit very hard - part of what worries me about a hard brexit.

 

[Sharpend]

Interest will not go up in the event of a hard Brexit. The government will want to stimulate the economy not stifle it. 

 

[Murdoch]

The world tried high interest rates in the 1980’s ...... and realised it didn’t work

now they try and keep to 2% ..... which isn’t good either

brexit or not isn’t likely to change anything ....

 

[Sharpend]

The world tried high interest rates in the 1980’s ...... and realised it didn’t work

now they try and keep to 2% ..... which isn’t good either

brexit or not isn’t likely to change anything ....

Now there is a truth. 

 

[Tony S]

I do, my pensions will come good in the next 5 years, I also started a pension for my son when he was 5.

Any sharp interest rate rises will hit very hard - part of what worries me about a hard brexit.

I have bullion set aside for my son. But at the present moment with the uncertainty of Brexit and US Fart’s tantrums, it may not have been one of my better ideas. But the lad knows it’s a long term gamble.

In the last couple of months the bullion markets have been up and down more times than a bride’s nightie. What happens next? I don’t know. No agreeable decision and we’re pretty well shafted.

I hate politics on engineering forums but the present situation has me worried. Onion Johnnies will be replaced by the French power companies demanding more money for the grid interconnects.

We can’t even meet our own domestic power demand thanks to political “one-upmanship”.

Stop the world, I want to get off.

 

[binky]

what is the current gold price?

 

[Tony S]

Current spot price.

Gold £979.66 per Troy ounce + premium.

Silver £11.52 per Troy ounce + premium.

 

[binky]

sounds like gold is at a high price?

 

[Tony S]

Both silver and gold are low at the moment. I've just bought more Canadian .999,9 silver coin today.

I want more of these 10 ozT bars: