Mortgage twice as much, that would take a huge hike in interest rates.
In fact anything 100% more than now is unlikely.
And that won’t happen why?
Lovely as the low interest rate may be for those of you home owners out there right now, rules of the world are what goes down, must come back up! Sad I know, especially for us Mountain Bikers, but it’s ultimately very true. I predict that within 12 months we will see the interest rate go past 3.5% (probably doubling most people’s mortgage payments), and within 2 years it will past 6%. Sorry to be a big nay sayer, but hopefully we’ll get some well needed inflation to go with it.
And unless the £ recovers significantly (we have spent a VERY long time getting used to it being very strong, which has been great for imports) we will start paying ridiculous amounts for anything imported. RRP of Shimano stuff has already gone up about 60% in total over the space of about 2 months, that’s just the start! Maybe, just maybe, this will kick start the manufacturing industry in this country to get making stuff again! I’m sure the likes of Hope and Middleburn are already benefiting from the weak £ in terms of their export markets.
Anything in Zimbabwe
Sorry, anything in Zimbabwe has already doubled in price about 10 times over just in the length of time it took me to write this reply! 😕