Originally posted by shaunbhoy
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UK Consumer Borrowing is by far the largest in Europe
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Originally posted by BrilloPad View PostIt 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.
How many hundreds of thousands were spent on that jaunt?
You’ve probably had cheaper divorces than it.…Maybe we ain’t that young anymoreComment
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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.…Maybe we ain’t that young anymoreComment
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Originally posted by WTFH View PostBack 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.Comment
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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...Comment
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Originally posted by WTFH View PostThe 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.
Since the only thing the country has got going for it is the housing market, I can't see any government popping the bubble.Comment
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Originally posted by mattfx View PostSurely 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...
It will still be going on in 20 years. Borrow now to buy property. You can't lose....Comment
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Originally posted by BrilloPad View PostWe 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.Comment
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Originally posted by The_Equalizer View PostBrighton has always been relatively nice. I did a little stint their in the early 1990s.His heart is in the right place - shame we can't say the same about his brain...Comment
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Originally posted by BrilloPad View PostWe 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.
*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.His heart is in the right place - shame we can't say the same about his brain...Comment
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