Those luckier enough to buy a first home are often spending around two fifths of their pay on mortgages....
If you wanted to see how 'effective demand' has been sucked out of the economy by the BoE sado-monetarists then this is a key part of their plan....
Only when everyone on a cheap mortgage deal has come off the end & had to reportage at a higher rate will the BoE be satisfied & really consider a significant reduction in interest rates.
#housing #interestrates
https://www.bbc.co.uk/news/articles/cxe2842xr62o
Emeritus Prof Christopher May /
npub1hr…f2ktj
2024-08-01 21:26:56
Author Public Key
npub1hr0x0gm9ksmvuvqwkyzfjuczv9pln83axuftxfhnq2maday69ypqtf2ktjPublished at
2024-08-01 21:26:56Event JSON
{
"id": "84a44a365f89985e3f6c1c30ae0d941ea261e8f8e5a19e03781d442cf3703bf3",
"pubkey": "b8de67a365b436ce300eb1049973026143f99e3d3712b326f302b7d6f49a2902",
"created_at": 1722547616,
"kind": 1,
"tags": [
[
"t",
"housing"
],
[
"t",
"interestrates"
],
[
"proxy",
"https://zirk.us/users/ChrisMayLA6/statuses/112888880612642273",
"activitypub"
]
],
"content": "Those luckier enough to buy a first home are often spending around two fifths of their pay on mortgages....\n\nIf you wanted to see how 'effective demand' has been sucked out of the economy by the BoE sado-monetarists then this is a key part of their plan.... \n\nOnly when everyone on a cheap mortgage deal has come off the end \u0026 had to reportage at a higher rate will the BoE be satisfied \u0026 really consider a significant reduction in interest rates.\n\n#housing #interestrates \n\nhttps://www.bbc.co.uk/news/articles/cxe2842xr62o",
"sig": "357794ee31cdf111c4b28b78c799dc11c1f1af09b6214233874471244b17f3dff5020388ba76b0ef6ca0ffbca9e06228533e47d404f19432e683e7e5209a4bab"
}