Iceland to give 10% discounts to 60s+ on Tuesdays

[medsec222]

Its a frightening thought for all those who have taken on a large mortgage. I remember the negative equity from the late 1980s when the value of the house was a lot less than the mortgage owed. Repossessions were rife at that time.

[cromwell]

I agree Meds. A lot of those new expensive houses will have "For Sale" signs up in the future.
As for Iceland single mothers or young families can take advantage of the 10% offer by asking their grandparents or an older friend to do a bit of shopping in Iceland on their behalf.

[Workingman]

We had just bought our second house when negative equity struck. However, as we had bought it as a home and not an investment we sat it out knowing that prices would eventually rise again. It could be what many will now have to do - if they can.

[Suff]

It is the "if they can" that worries me WM.

[Workingman]

Me too. It certainly changed our lives, at least to the mid 90s.

We stopped going to pubs and restaurants and had friends round for meals and drinks instead - we took turns. We bought fresh and prepared our own meals. We walked a lot more. We brewed our own wine - some very good ones I might add. Fashion was out.

It wasn't as bad as it might sound even though it was tough to change.

[Suff]

We walked in the mountains of Scotland, cycled a lot, learned to Scottish Country Dance and went to a lot of dances where you could get a lot of friends, an evening of fun and supper for £5.

We went camping with the kids and holidayed mainly in Scotland. Eventually my income started to pull away from Mrs S and although it was not a calculation the bank would accept for a mortgage, it was an income which brought luxury and foreign holidays to our lives.

Mrs S was always a fantastic cook and I can cook edible food too. All the kids can cook too, we made sure of that.

I look back and wonder how those who have never seen the leaner times will cope with what is certainly coming.