They did this before 2008 and it ended up being responsible for the credit crunch. Housing needs to cost an amount that doesn't require such extreme mortgages.
this post was submitted on 23 Sep 2024
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I guess the people who profited from 2008 have decided it’s time for another slurp at the trough.
Current interest rates with six times my salary - not sure I could even afford the repayments.
Here comes the next house price hike wave, then.
Nationwide are also launching deals under 4%.
Six times income! Fucking heck.
Build more houses you bastards!
It's a shame wages weren't keeping pace.
What could go wrong?
I'm going to assume that by "some" they really mean "the rich ones where mummy and daddy have provided a massive deposit"