UK Consumer Borrowing is by far the largest in Europe

[BR14]

PMs can go where they wish due to their relevance.

Talentless delusional old hacks have to be more restrained about where they spout their drivel.

HTH

hence the need for CUK

[WTFH]

It was dreadful. It might not have been so bad if she had actually said anything.

Another PM wants to be big on the world stage. Does not give a f**k about UK citizens.

Exactly.
How many hundreds of thousands were spent on that jaunt?

You’ve probably had cheaper divorces than it.

[WTFH]

Back on topic - UK Consumer fiscal responsibility is similar to the banks and the government. Keep on borrowing, if you get in debt, just borrow more, it doesn’t cost much.

As DP rightly points out, a big part of the issue is the massively overinflated house prices in the UK. For someone starting out, getting a 5% deposit used to mean a couple of months salary. Having a mortgage of 3x your salary when you were 25 was manageable.
The country needs a good property crash to allow younger people onto the ladder, also to make “investors” sell their empty properties, freeing them up to be used as homes, not just empty shells.

[The_Equalizer]

Back on topic - UK Consumer fiscal responsibility is similar to the banks and the government. Keep on borrowing, if you get in debt, just borrow more, it doesn’t cost much.

As DP rightly points out, a big part of the issue is the massively overinflated house prices in the UK. For someone starting out, getting a 5% deposit used to mean a couple of months salary. Having a mortgage of 3x your salary when you were 25 was manageable.
The country needs a good property crash to allow younger people onto the ladder, also to make “investors” sell their empty properties, freeing them up to be used as homes, not just empty shells.

This is the real finanical problem in the UK.

[mattfx]

Surely one of the most worrying things in this whole report is that consumer debt in 2015 was already 6% higher than it was in 2008. Advance that on by two years and it may be as much as 8 or 10 percent higher... We were just having a little chat about this in the office and the majority of us don't have £5000 worth of debt, meaning either a) everyone is fibbing or B there's someone, somewhere with £30,000 worth of consumer debt!!!

There's absolutely no way we can continue like this, surely...

[BrilloPad]

The country needs a good property crash to allow younger people onto the ladder, also to make “investors” sell their empty properties, freeing them up to be used as homes, not just empty shells.

We had a good property crash early nineties. Then all the same mistakes were repeated.

Since the only thing the country has got going for it is the housing market, I can't see any government popping the bubble.

[BrilloPad]

Surely one of the most worrying things in this whole report is that consumer debt in 2015 was already 6% higher than it was in 2008. Advance that on by two years and it may be as much as 8 or 10 percent higher... We were just having a little chat about this in the office and the majority of us don't have £5000 worth of debt, meaning either a) everyone is fibbing or B there's someone, somewhere with £30,000 worth of consumer debt!!!

There's absolutely no way we can continue like this, surely...

https://www.theguardian.com/money/20...es-7-year-high

It will still be going on in 20 years. Borrow now to buy property. You can't lose....

[The_Equalizer]

We had a good property crash early nineties. Then all the same mistakes were repeated.

Since the only thing the country has got going for it is the housing market, I can't see any government popping the bubble.

Most busts are irrespective of Government wishes.

[Mordac]

Brighton has always been relatively nice. I did a little stint their in the early 1990s.

(Best keep quiet about that...)

[Mordac]

We had a good property crash early nineties. Then all the same mistakes were repeated.

Since the only thing the country has got going for it is the housing market, I can't see any government popping the bubble.

Corbyn would love to burst it, and there are many popular* things he could do, and may well do. A massive tax on foreign investor-owners, enough to persuade them to sell up, all at roughly the same time. An even bigger culling of the BTL brigade than the current govt is attempting, causing many of them to sell up; again, roughly at the same time. Prohibitive taxes on second homes, and unoccupied homes, causing many to flood the market at roughly the same time. In parallel with this, interest rates will need to rise substantially to stop sterling tanking, and, well you can see where all this is leading.

*popular within his congregation, that is. It will of course be put down to "basic fairness" and "natural market correction" but God help anyone who's bought an expensive property recently, especially if it's mostly on a mortgage. You might as well set fire to it while you can still afford the petrol.