Brown - 'House prices are higher... but it's not as bad as the early 90's'

Turnbull2000 · 23 September 2007 at 6:05PM

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

Darling, seeking to deflect criticism of his handling of Northern Rock, today said in a speech at the ruling Labour party's annual convention that the opposition Conservatives, or Tories, would have made the situation worse had they been in government.

http://www.bloomberg.com/apps/news?pid=20601102&sid=ax_4c5abPPMY&refer=uk

So move along wannabe first time buyers, recent buyers and potential upsizers, things have been worse and you should just be grateful the Tories are not in power :mad:

Lavendyr · 23 September 2007 at 6:09PM

On average, that may well be the case because of baby-boomers who are home-owners, but it doesn't change the fact that there is a problem for the rest of us who are poor FTBs.

nrsql · 23 September 2007 at 6:20PM

>> But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.
So what

>> Conservatives, or Tories, would have made the situation worse had they been in government.
So what

Sounds like they are saying they have screwed up but things aren't as bad as the worst they have been in the past yet and could have been worse.
Guess they think there's not a problem until things get worse.
That's even if you belive what they are saying.

PasturesNew · 23 September 2007 at 6:23PM

Yes. People buying more than 7 years ago have a chance, if they've kept/improved their jobs/income of managing.

People who bought 10-20 years ago should be fine (same rules).

But people buying in the last 5 years for sure are a different kettle of fish.

Averages are pants.
All averages are pants.

Boo to averages. They hide all true stories.

PasturesNew · 23 September 2007 at 6:24PM

On average, salaries have risen X in the last Y years.

I have recently moved to a new area, so decided to go temping for awhile while I settled in (got my 4rse in gear).

I found that the rates for temping are now the same as when I last did it 17 years ago.

Pants to averages...
Just ... .pants

Sapphire · 23 September 2007 at 9:48PM

PasturesNew wrote: »

Yes. People buying more than 7 years ago have a chance, if they've kept/improved their jobs/income of managing.

People who bought 10-20 years ago should be fine (same rules).

But people buying in the last 5 years for sure are a different kettle of fish.

Yet people buying in the last five years - or less - with cash and no mortgage should also be fine.

$$$_12 · 23 September 2007 at 10:09PM

The Lying Scotsman strikes again.

maninthestreet · 24 September 2007 at 6:46AM

Would you trust a man that has already stolen the pensions of many private sector employees to ensure that public sector employees retain their very generous pension schemes?

dougs · 24 September 2007 at 7:56AM

maninthestreet wrote: »

Would you trust a man that has already stolen the pensions

no, but it seems a heck of a lot would :mad:

from http://news.bbc.co.uk/1/hi/uk_politics/7009728.stm

The Ipsos-Mori poll of 1,009 adults put Labour on 42%; its lead increased from 5% in a similar poll a month ago.

manhattan · 24 September 2007 at 8:23AM

Brown talks out of his Brown hole

dannyboycey · 24 September 2007 at 8:49AM

As a past labour voter, there is no way in hell Brown would get my vote. Neither would Cameron, but that's another matter.

Brown - 'House prices are higher... but it's not as bad as the early 90's'

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