Does anyone else think the BOE is completely taking the P

[Brighteyedtriangle]

They kept rates so bloody unessecarily low for so bloody long. People on good wages but not by any means rich were getting half a mil houses, extensions and renovations left, right and centre. They have blindsighted a whole country into a false sense of security and then just pulled a rug.

Ok, ok I dont know much about economics if at all but they do so surely they know having interest rates at less than half a percent for so long is a recipe for disaster even stupid me saw this as silly and not sustainable.

And what were banks thinking and still are. I was looking at loans the other day and my high street bank said I would borrow upto 60k for a car. Wtf I dont even earn anywhere near that.

Some of the fomo SD freeze 2021 house buyers will be getting a shock soon :(
I don't think we will see the amount of repossessions of the 90s but who knows?
Adjusted, the inflation rate is the same as 13% in the 90s...
The artificially low rates couldn't last but lasted far, far too long

Our bank offered us 600k in 2003, we bought for 250k with a big deposit from previous sales. I remember thinking that was mad as we both remember being in our first flat in 1985 and the interest rate went up to 17% . We had to sell a lot of my husbands toys (jet ski, motorbike) also sold my car went down to one between us. It was really frightening time , but In 1985 with no social media it was just get on with it, no one every thought that the government would even consider helping out and they didn’t. I do remember people use to just give there keys back to the bank ad walk away.