We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
UK Economy to stay in the "doldrums".
Graham_Devon
Posts: 58,560 Forumite
The UK economy will remain stuck in the doldrums this year with growth of 1% or less predicted in 2010, a leading forecaster has warned.
The Ernst & Young ITEM Club, which uses the Treasury's economic model for its forecasts, said the immediate prospects for the UK were "dismal".
An export-led recovery was unlikely to emerge until 2011 and consumer spending was too weak for a recovery, it said.
Good to see an actual body saying the last paragraph. It's something that's forever ignored. You cannot simply keep running on ever higher debt.ITEM said consumer spending was suffering as UK households laboured under high debts, subdued wage growth and lingering risks of unemployment.
0
Comments
-
Graham - I was thinking about you on Saturday, and specifically that you and others place too much stall with official average income stats.
Every day I meet 'typical' FTB couple like this;
Mr - London firman, £29k basic, £4k overtime + on days off is a securit guard for retail chain making £13k (I wonder how official stats would allocate his figures - I'd bet that second job is statistically reported as 1 job meaning his true income is under reported). Nearly every fireman Ive dealt with has 2 jobs.
Miss - recruitment consultant £24k basic, £20k commision.
Total income for an ORDINARY EVERYDAY couple = £90k (according to the Lib Dems, £100k is oft quoted as a high income - classic!).
Such underestimation of true incomes is what IMO lies behind the so called disconnect between incomes and house prices.
Above my shop are lots of African NHS workers. In time many come to me for mortgage advice. It's common for couples both working in NHS to be on £70 - £90k, as nurses (often with separate 'bank' work on top of normal nhs earnings).0 -
PS - I'ts just normal now for meet to meet ordinary non high fligher types on £80k plus, so if anything house prices are too low.
Many will scoff at this - jealousy I suspect.
PPS - Most of the females return to work after maternity, so dont bother with the 'what about when they start a family' argument.0 -
Graham - I was thinking about you on Saturday, and specifically that you and others place too much stall with official average income stats.
Every day I meet 'typical' FTB couple like this;
Mr - London firman, £29k basic, £4k overtime + on days off is a securit guard for retail chain making £13k (I wonder how official stats would allocate his figures - I'd bet that second job is statistically reported as 1 job meaning his true income is under reported). Nearly every fireman Ive dealt with has 2 jobs.
Miss - recruitment consultant £24k basic, £20k commision.
Total income for an ORDINARY EVERYDAY couple = £90k (according to the Lib Dems, £100k is oft quoted as a high income - classic!).
That is quite typical. You are right.0 -
We're in the doldrums? It's been a bit warmer these past couple of days but I didn't think we had actually moved south.0
-
I came in to this world with nothing and I've still got most of it left. :rolleyes:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards