Fixed or Variable Mortgage? Which is Better?

Like many, my fixed rate mortgage deal expires very soon and so I am left with firstly the shock of how much the mortgage will increase and secondly the difficult question of whether to get a fixed rate mortgage or a variable tracker mortgage. The big question is whether interest rates will stay high or …

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Why Sterling Recovered in 2023 and Forecast for Rest of Year

After being one of the worst performing currencies of 2022, the Pound has staged an impressive recovery against the US Dollar, rising 15% from the depths of last September’s crisis. After years of decline, markets are now more optimistic the Pound will continue to strengthen. But why is the Pound rising when many in the …

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Turkey’s Economic Crisis and High Inflation

As elections loom, the Turkish economy is facing a self-inflicted economic crisis of high inflation, and a cost of living crisis that dwarfs what we see elsewhere in Europe. In recent years, Turkey has seen inflation rate surge to over 80% – leaving over 53% of people in Turkey unable to meet their daily expenses. …

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Will the Housing Market become less overvalued?

Last autumn, UK house prices reached record levels – with the highest price to income ratio since the nineteenth century. And just at this moment, the Truss/Kwarteng budget sent mortgage rates soaring – it was a shock to a market heavily reliant on ultra low-rates. This combination of factors was the perfect trigger for a …

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Inelastic demand


Definition – Demand is price inelastic when a change in price causes a smaller percentage change in demand. It occurs where there is a price elasticity of demand (PED) of less than one. Goods which are price inelastic tend to have few substitutes and are considered necessities by users. Diagram of price inelastic demand For …

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Will House Price Falls in 2023 be like Crashes of 2007 and 1991?


In both 2007 and 1991, house prices fell 20%, will see something similar this year? The really interesting question is whether house prices return to the post-war levels of affordability like after the crashes of 1990 and to a lesser extent 2008. If house prices were to quickly fall to 3 times earnings, it would …

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Primary and Secondary Income – Balance of Payments

On the financial/capital account Primary income This includes income from interest, profits, and dividends (generated from foreign investment). It also includes remittances – these are payments from people living and working overseas and sending money back to country of origin. Primary income is defined as earnings arising from the provision of a factor of production: …

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