National News Interest rates

I’d love to live there. Went there for a visit recently and talked with Peter Hitchens.
I think it used to be regarded as a slum many many years ago. How times change.
Mortgages would become rather unaffordable at 15% now. £200000 interest only alone would be £2500pm.
I remember the high rates. Luckily mine was subsidised as I worked in a London bank
 
In 1982 the interest rate on my mortgage was 15%, my savings account paid me 9%.

The interest rate seemed to change on a monthly basis, I never bothered changing the payment , the end result was the mortgage got paid off sooner
 
House prices bubbles have and will continue to be burst by rising interest rates. It's gonna get messy.
 
Essexyellows said:
Don`t need to.

Just expressing my opinion, on a forum, a place for discussion.
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“In my opinion, Istanbul is the best city in the world” or “Istanbul is by far the best city I’ve ever been to” = expressing an opinion

Whereas

“Istanbul is the best City in the World. Period.” = being pompous and arrogant (in my opinion 😉🙃)
 
windmill said:
Remember mortgages at 15% in the early seventies. Then again, you could buy a terraced house in Jericho for £16500.
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much less than that I would have thought. In 1970 the average price of a house was less than £5k, and Jericho wasn't a gentrified area then. You could have probably bought the whole terrace for £16k.
 
Oslernorth said:
Travel broadens the mind. I would love to visit Istanbul. It’s certainly my area of history. Are you into Middle Eastern culture in general?
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Osler,

I would agree. I have been lucky enough to travel to over 30 different countries and over 75 foreign trips does open your eyes. Also living in Papua New Guinea, Hong Kong, Singapore and Malaysia gives you a totally different perspective.

Favourite Cities in the World: Taipei and Da Nang/Hoi An

Favourite Countries: So many, Vietnam, Japan, Taiwan and of course, Malaysia
 
Oslernorth said:
Travel broadens the mind. I would love to visit Istanbul. It’s certainly my area of history. Are you into Middle Eastern culture in general?
Click to expand...

As a City it has to be experienced to be understood which sounds a bit "twee" but there we are.
The whole West meets East has a huge impact on the people, their culture, and their tolerance.
We stayed on the Golden Horn/Eminonu district so we had the Blue Mosque over the road, Topkapi Palace and Hagia Sophia all within a short walk. No matter where you go there is "old" and new next door to each other, we took a trip on the bus to Taksim Square which has a long and violent history, Besiktas`s Vodafone arena was under construction just down the road. Then throw in the Grand Bazaar, the football, and the whole vibrancy of the City and I would go back in a heartbeat.
The City itself is vast it makes Greater London look small, some 16 million folk live and work in it. Public transport is second to none- when we were there it was 70p a journey on trams, bus, boat or underground. Doesn`t matter if it is 1 stop or end to end of the line its a fixed fee. The people are incredibly friendly, cost of living is relatively cheap but the average wage is much lower than the UK.
The only downside is there doesn`t seem to be a state safety net so you would see folk collecting plastic bottles etc for recycling which I`ll assume they get paid for, the benefit is that the streets are incredibly tidy and litter-free but seeing folk looking for food in bins is not a good image.

It was a busy week!!
 
Essexyellows said:
As a City it has to be experienced to be understood which sounds a bit "twee" but there we are.
The whole West meets East has a huge impact on the people, their culture, and their tolerance.
We stayed on the Golden Horn/Eminonu district so we had the Blue Mosque over the road, Topkapi Palace and Hagia Sophia all within a short walk. No matter where you go there is "old" and new next door to each other, we took a trip on the bus to Taksim Square which has a long and violent history, Besiktas`s Vodafone arena was under construction just down the road. Then throw in the Grand Bazaar, the football, and the whole vibrancy of the City and I would go back in a heartbeat.
The City itself is vast it makes Greater London look small, some 16 million folk live and work in it. Public transport is second to none- when we were there it was 70p a journey on trams, bus, boat or underground. Doesn`t matter if it is 1 stop or end to end of the line its a fixed fee. The people are incredibly friendly, cost of living is relatively cheap but the average wage is much lower than the UK.
The only downside is there doesn`t seem to be a state safety net so you would see folk collecting plastic bottles etc for recycling which I`ll assume they get paid for, the benefit is that the streets are incredibly tidy and litter-free but seeing folk looking for food in bins is not a good image.

It was a busy week!!
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It sounds very interesting, thanks. Will certainly have to add it to the list.
 
Essexyellows said:
As a City it has to be experienced to be understood which sounds a bit "twee" but there we are.
The whole West meets East has a huge impact on the people, their culture, and their tolerance.
We stayed on the Golden Horn/Eminonu district so we had the Blue Mosque over the road, Topkapi Palace and Hagia Sophia all within a short walk. No matter where you go there is "old" and new next door to each other, we took a trip on the bus to Taksim Square which has a long and violent history, Besiktas`s Vodafone arena was under construction just down the road. Then throw in the Grand Bazaar, the football, and the whole vibrancy of the City and I would go back in a heartbeat.
The City itself is vast it makes Greater London look small, some 16 million folk live and work in it. Public transport is second to none- when we were there it was 70p a journey on trams, bus, boat or underground. Doesn`t matter if it is 1 stop or end to end of the line its a fixed fee. The people are incredibly friendly, cost of living is relatively cheap but the average wage is much lower than the UK.
The only downside is there doesn`t seem to be a state safety net so you would see folk collecting plastic bottles etc for recycling which I`ll assume they get paid for, the benefit is that the streets are incredibly tidy and litter-free but seeing folk looking for food in bins is not a good image.

It was a busy week!!
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All well and good but what are the pubs like?

😉
 
QR said:
All well and good but what are the pubs like?

😉
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Difficult to believe but there are several "Irish Pubs" in Kadikoy. 🤷‍♀️

Had a Guinness whilst contemplating how to get in after the Passilog & ticket "issue". :ROFLMAO: :ROFLMAO:
 
Peterdev said:
I agree it’s a BOE decision and has been for many years.
Its failure to act is a poor decision and will harm the economy due to its inaction.
A policy of gradually increasing interest rates to around 4% over 12 months would be a responsible decision in the light of inflation accelerating as it is now. NZ and Australia have already increased their rates and I’m sure USA are looking at doing the same.
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They need to start creeping up, but 4% over 12 months!!!
 
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