Big interest rate changes coming

[zerocool2009]

So what actually happens if we go that way? Obviously many/most people wouldn't be able to afford their mortgages, as an example. Does everyone simply declare bankruptcy?

2008 in the US scenario I would guess

 

[3WA]

So what actually happens if we go that way? Obviously many/most people wouldn't be able to afford their mortgages, as an example. Does everyone simply declare bankruptcy?

We loot Makro?

 

[WhosThis]

So what actually happens if we go that way? Obviously many/most people wouldn't be able to afford their mortgages, as an example. Does everyone simply declare bankruptcy?

Yes

 

[Messugga]

2008 in the US scenario I would guess

Well the US printed their way out of things. SA doesn't have that luxury. I have a bond on a house in SA so I'm wondering what happens if I stop paying because interest rates have gone nuts... Granted, the GBP/ZAR rate would go a similar route so I could probably pay say bond at a reasonable rate.

 

[Brawler]

Getting a bit tired of the usuals rejoicing at the IR increasing.
It's getting to the point where not only those who bought after 2020 suffer. Good luck selling your house with a high-interest rate.

 

[Bundu]

I think it was in 1995 or 1998, when rates went above 20%. Many people lost their houses

 

[wingnut771]

So what actually happens if we go that way? Obviously many/most people wouldn't be able to afford their mortgages, as an example. Does everyone simply declare bankruptcy?

We all become zillionaires?

 

[Lupus]

I think it was in 1998, when rates went above 20%. Many people lost their houses

23.99% it was hectic, family was worried. Yet in 1998 the exchange rate was better, food was cheap, petrol was cheap. I was working at the Sunday Times on a Saturday for like R1400 a month and it covered a lot.

 

[wingnut771]

23.99% it was hectic, family was worried. Yet in 1998 the exchange rate was better, food was cheap, petrol was cheap. I was working at the Sunday Times on a Saturday for like R1400 a month and it covered a lot.

Yeah, nothing was renamed yet.

 

[Vrotappel]

I'm retarded, but it's evident in my pocket that everytime they hike interest rates, inflation increases. I think that this inflation targeting is a ****ed up system. The cadres must be benefiting.

Whenever interest rate increases you pay more for debt and you have less to spend elsewhere. That is the whole idea.

 

[Vrotappel]

Looks like the right time to open an investment account in Argentina.

They have defaulted before.

 

[Lupus]

Whenever interest rate increases you pay more for debt and you have less to spend elsewhere. That is the whole idea.

Except now we need to pay for load shedding inflation which won't be brought down my normal means

 

[Vrotappel]

Except now we need to pay for load shedding inflation which won't be brought down my normal means

You pay for the ANC fvck ups. Wet van die Transvaal.

 

[zerocool2009]

Except now we need to pay for load shedding inflation which won't be brought down my normal means

You can stop LS! Its in your control. Get solar.

 

[Lupus]

You can stop LS! Its in your control. Get solar.

I've got it, but it doesn't help the shops

 

[zerocool2009]

I've got it, but it doesn't help the shops

Just an example. Have sleepless nights with things in your control

 

[Dan C]

You can stop LS! Its in your control. Get solar.

No it's not. What if my internet dies during LS. How am I going to watch Binnelanders ?

 

[ToxicBunny]

No it's not. What if my internet dies during LS. How am I going to watch Binnelanders ?

LTE ffs... you should have backup to your backup internet connectivity.

 

[Bliksis]

I am doing more house shopping now

Rude awakening: interests rates are out of your control

Good god. THAT'S your rude awakening? /facepalm

 

[RedViking]

Good luck selling your house with a high-interest rate.

I'm looking for a bargain