Steph McGovern

So they've had rate cuts since then.

I think they've had three, haven't they?

Quarter point rate cuts.

And yeah, the rate now for a mortgage there is back where it was before all those rate cuts come in.

So that's going to be interesting how it plays out for Trump, because that is a tangible cost for American people going up.

Yeah, we've talked about oil and fuel prices and things, but that is another biggie is the cost of homes.

And, you know,

Bringing us back to the UK, the other thing that's been going on in the housing market, which hasn't had that much coverage because of all the other drama, is the change in renting.

So the Renters' Rights Act came in in May.

And this is huge for the housing market.

So this is the legislation in England that means...

Well, it overhauls the private rented sector and it fundamentally shifts power towards tenants getting rid of the Section 21 no-fault evictions, ending fixed-term contracts, restricting rent increases to only once a year, and a whole host of other things.

And in that time, landlords have been selling up.

So you've got...

concerns there about the supply of rental properties.

So all of this together is going to be tough for homeowners potentially off the back of this legislation that's come in, but also what's happening in America.

And again, putting more pressure on the cost of living.

So yeah, I mean, this is all just adding more pressure on labour as well in terms of the cost of living and things getting tough for people.

Yes, we'll do that after the break.

Welcome back to The Rest Is Money with me, Steph McGovern.