More Bank Trouble

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More Bank Trouble

Post by Pete » Wed May 03, 2023 9:36 am ... 023-05-02/

PacWest, Western Alliance shares tumble as US regional bank fears persist
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Re: More Bank Trouble

Post by Shred » Tue May 23, 2023 3:33 am

Let me guess, in your country savings accounts offer very low rates of interest, mortages are the preferred form of investment and the housing market is in a precarious situation, added to that loans and credit cards have high rates of interest and large numbers of people in debt cannot afford.

As a result defaulting including on mortgages has become a problem again, and without the income stream, banks are starting to fail?

IF I'm wrong, I'm wrong, but the housing market is overheating here in the UK and looking like a crash could happen soon.

The average house price here is a quarter of a million pounds.
The average wage here is less than £27k a year.
The average savings account interest rate is 2.14%, which is pathetic.

Savings accounts should offer 1/4 to 1/2 the interest they offer on loans / credit cards.
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