Irish mortgage rates double.

[ZenOps]

http://www.dailymail.co.uk/news/article-2317872/Bank-Ireland-doubles-tracker-rate-mortgages-overnight-affecting-13-500-UK-customers.html

They can do that? Doh!

A typical change will see a buy-to-let mortgage holder who is currently on a rate of 2.25% - made up of the base rate plus 1.75% - see it rise to 4.99% from today

Lock lock lock it down peeps.

[Tik-Tok]

Whoah... there's Irishmen who can afford a home?

[ercchry]

so if a country goes bankrupt... do you as a citizen also? :rofl:

[gamman]

Basel iii is going to cause a lot more problems like this. Banks in north america are in thr opposite shape. they have too much cash. That type of thing really shouldnt happen on this side. canadian banks are even stronger than us banks. Quite frankly, they have too much of it and are looking for vehicles to place it into.

[Stewjoe]

I still rent. My plan is to wait until interest rates go up an a lot of people cannot afford their house and the market crashes. :bigpimp:

[trevh]

Originally posted by Stewjoe
I still rent. My plan is to wait until interest rates go up an a lot of people cannot afford their house and the market crashes. :bigpimp:

It's obvious you missed out on the last couple years. The best investment for you right now is a Hyundai, thoughts? :banghead:

[ZenOps]

Originally posted by Stewjoe
I still rent. My plan is to wait until interest rates go up an a lot of people cannot afford their house and the market crashes. :bigpimp:

Its a definite possibility. IMO, that may be a very smart plan.

[davidI]

Originally posted by Stewjoe
I still rent. My plan is to wait until interest rates go up an a lot of people cannot afford their house and the market crashes. :bigpimp:

Only works if you have the $$$ to buy a house in cash. Otherwise, you'll be facing the same financing costs as everyone else.

I recently sold my place and am not upset about the timing. That said, with all the QE going on in the world I am definitely concerned about inflation going for a run at some point and it would be nice to be invested in a fixed asset if / when that happens.

[BigMass]

Originally posted by davidI


Only works if you have the $$$ to buy a house in cash. Otherwise, you'll be facing the same financing costs as everyone else.

I recently sold my place and am not upset about the timing. That said, with all the QE going on in the world I am definitely concerned about inflation going for a run at some point and it would be nice to be invested in a fixed asset if / when that happens.

deflation precedes inflation. If there's a panic, there will be a rush to cash, prices will tumble, Fed will print trillions more, then velocity will increase and prices will skyrocket as people rush to buy up low priced assets and liquidate their dollars. That added with creditor nations like China doing everything it can to repatriate treasuries causing a massive run up in NA prices. Canada is a gnat on a horses ass and no matter how fundamentally sound our economy is, we will go down with the ship. They question isn't "if", it's "when". Which is impossible to predict due to the insane distortions in the market. Could be 1 week, 1 month, or 10 years.