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Telegraph: wages collapse at fastest rate in 60 years
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Im still a bear and agree with Mrs Sommerset Webb here
http://www.moneyweek.com/investments/property/why-its-still-not-time-to-buy-property-14784.aspx
Still, even if you aren't fussed about long-term affordability ratios, consider this. For a real recovery to get going now a very large number of people need to have five things: a job; a firm belief that they will still have a job in five years even as unemployment rises over three million; a conviction that you can't lose in the long term with bricks and mortar; a good £20,000 as a deposit; and most importantly of all, the ability to get a mortgage. Know many people like that? Nor do I.0
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