So how would you suggest a way to cool inflation. Mortgage rates have been far too low for a very long time. This has encouraged people to pay higher prices. Unfortunately, many do not take into account that interest rates were artificially low.
Common sense, would as my old Dad would say, that you cut your clothes according to the cloth. Why do a newly married/partnered couple need a 4 x 2 home?
Basically, they do not. Why are people so frightened of buying a house that needs a renovation?
Are they too lazy?
My family's wealth was born of buying complete wrecks, working really hard to renovate, often using recycled materials to do so and then moving on up to do the same again.
My first flat in London, was a complete dump. We were so skint that we ran out of money to buy polyfilla and made paper mâché instead. Many may laugh, but we are now financially independent.
So all the young people who call the boomers lucky, should take a leaf out of their books. No going out. Just having friends round with a couple of bottles of cheap wine and making a spaghetti Bol, made for our great fun.
