Rich-Poor Divide Widening

DaddyBear

http://news.bbc.co.uk/1/hi/business/8481534.stm


Well, after three rounds of a labour government, the rich-poor divide is worse than in the 70's. That's progress.

The article doesn't seem to mention house prices in this, not surprisingly. With an increasing number of first time buyers relying on the Bank of Mum and Dad, it's only going to get worse. Unless you earn a huge wage, owning your own property is only going to be possible if mummy and daddy have lots of money. In other words, if you aren't born into money there is no chance for you.

chucky

DaddyBear wrote: »

if you aren't born into money there is no chance for you.

do you really think that buying a house is the be all and end of all of achievement in a persons life?

1984ReturnsForReal_2

I think that will be classed as a Labour failure then........

DaddyBear

chucky wrote: »

do you really think that buying a house is the be all and end of all of achievement in a persons life?

I don't. But the general population of the UK thinks so.

abaxas

Things can only get better *


*providing you are a Tony Blair.

DaddyBear

abaxas wrote: »

Things can only get better *


*providing you are a Tony Blair.

I don't know..... with the Iraq enquiry things could get decidedly worse.

I do think that the Tories should resurrect the classic D:Ream hit from the 1992 labour campaign and use it as their own. Delicious irony as the country is in a much worse state than in 1992.

Graham_Devon

chucky wrote: »

do you really think that buying a house is the be all and end of all of achievement in a persons life?

Surely it does allow you, as you get older, to have a better lifestyle.

If you are forever renting, your housing payments will always be taking out a big proportion of your income.

With buying, at least that proportion, in general, over time will go down (if you don't keep chasing bigger and better of course), allowing for a better lifestyle.

Which is exactly what the rich / poor divide is all about.

If the poor are forced to pay more for the same things in life as they are priced out of being able to do anything better, they will always be paying more.

System

Graham_Devon wrote: »

Surely it does allow you, as you get older, to have a better lifestyle.

If you are forever renting, your housing payments will always be taking out a big proportion of your income.

With buying, at least that proportion, in general, over time will go down (if you don't keep chasing bigger and better of course), allowing for a better lifestyle.

I think this was discussed the other day, but a lot of people insisted renting was always better. Personally I agree with you.

thriftybabe

Joeskeppi wrote: »

I think this was discussed the other day, but a lot of people insisted renting was always better. Personally I agree with you.

We have our mortgage paid off and are so lucky we do not to pay that or rent. That makes a difference to how we live. Our wages have been hurt badly during this crisis but it would be much worse had we a mortgage/rent to pay. In addition as our house is quite a good size, we are hoping at some point to down size and use the funds to travel.

I have a friend that does not believe in buying. She lives in a rented flat and depends on her landlord getting around to fix things!

StevieJ

Tony Blair was a Tory maybe we should have had a Labour govt

Generali

StevieJ wrote: »

Tony Blair was a Tory

Tony Blair was an ex-CND dyed in the wool Labourite. You can see that from the economic chaos he left behind.