Not really an "oh dear", more of a "hardly surprising". Still interesting to see yet another new definition of poverty, that of being unable to afford multiple pairs of shoes.
I know this is a bit of a break from religious threads, but I'm getting a bit nostalgic for the property threads of old. Feel free to discuss, abuse Chico and/or Franco, poke holes in evolutionary theory, whatever...
Many would-be first-time homebuyers consider getting on the property ladder a passport to prosperity but, it seems, it can also be a financial millstone condemning some to poverty living.
Runaway house price inflation has helped make many homeowners' fortune, as long as they have timed their house purchase and sales to make the most of the boom.
But there is another side to the homeowners' tale and it is a million miles away from the sunny picture of instant profits painted by so many TV property programs.
According to official government statistics nearly six out of 10 people defined as in poverty are homeowners. Many can't afford what many people consider to be essentials such as a second pair of shoes or keeping their home in proper decorative order.
In this instance being in poverty is defined by social scientists and the government as earning below 60% of average incomes. [LB: Excellent, another tail chasing government measure]
Read on: http://news.bbc.co.uk/1/hi/business/4081596.stm
Worth it just so can have a chuckle at the tear-jerking real life stories of fools who thought that buying a house would magically make you rich.
Runaway house price inflation has helped make many homeowners' fortune, as long as they have timed their house purchase and sales to make the most of the boom.
But there is another side to the homeowners' tale and it is a million miles away from the sunny picture of instant profits painted by so many TV property programs.
According to official government statistics nearly six out of 10 people defined as in poverty are homeowners. Many can't afford what many people consider to be essentials such as a second pair of shoes or keeping their home in proper decorative order.
In this instance being in poverty is defined by social scientists and the government as earning below 60% of average incomes. [LB: Excellent, another tail chasing government measure]
Read on: http://news.bbc.co.uk/1/hi/business/4081596.stm
Worth it just so can have a chuckle at the tear-jerking real life stories of fools who thought that buying a house would magically make you rich.
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