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You've never had it so good

1356

Comments

  • Cleaver wrote: »
    I kinda agree and disagree.

    I'm cautious, worried, apprehensive and everything else about the future of the country and jobs for the future. But what did he actually say?
    • Most people still have the same income but have less mortgage to pay;
    • If a few hundred thousand people from the public sector lose their jobs it's not that much when you consider 30 million people work in it.
    To be honest, aren't both of these statements pretty much true? He was a moron to say what he said, as he should have known that he'd get his wrists slapped. But the fact is that the majority of people who have mortgages have seen costs fall and the majority of people have kept the same income as pre-2007. In addition a lot of people will agree that losing a few hundred thousand jobs from a public sector as big as ours isn't really that massive on the grand scheme of things.

    And obviously No.10 will be quickly shutting him up. They want to cut, cut and cut and his comments are completely at odds with the 'we're all in this together' rubbish they are spouting.

    The entire labour force is in the order of 30 million, not just the public sector.

    I guess some people are paying lower mortgages, but this must be offset by savers who have less interest income - although they are likely to be richer as a group.

    Wages and salaries have stagnated and prices have risen quite rapidly, so most people feel poorer. Also most people are unable to access credit so easily which must have an impact on how people feel.
  • Pete111
    Pete111 Posts: 5,333 Forumite
    Mortgage-free Glee!
    Cleaver wrote: »
    I think unless you're locked in to a high fixed rate, have a bit of a sub-prime mortgage or are a FTB who bought over the last couple of years and had to take a high rate, most people will be on a lower rate mortgage than a few years ago, whether that's a fixed, tracker or SVR.

    Using myself as an example, we were on a 4.7% five year fixed term mortgage from 2004 to 2009 which was one of the best on the market at that time I think. We've recently moved to a five year 4% fixed. It's not much of a difference, around £60 a month on £100,000. But I guess that's still something and a lot of people would have been on 5% or 6% mortgages and are now on 2%, 3% or 4%.


    Yep

    SVRs being so cheap also provides an obvious solution for those on fixed terms coming to an end. If they think they might struggle with their LTV then not remortgaging is still likely to provide a significant saving.

    Agree the cost of living is going up. However, from some market research I've been looking at recently as part of my job, pay increases (in London / South East) are running at just over 2%.
    Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Cleaver wrote: »
    Sorry, but I don't get the OO's / 7 bit?

    As I've just pointed out, I was on a fixed for five years for the latter half of the last decade and I've just fixed again for the next five years at a cheaper rate. On a £100,000 mortgage I'll pay £3,600 less on my mortgage over the next five years compared to the previous five years. My income is the same, therefore I'm better off. Surely there will be lots of people like us?



    I agree with that.



    I agree with that too.

    I guess all I was thinking was that his comments will echo a lot of of people and weren't that bad - just an opinion. But the media and government reaction is as if he's just told the nation that all of their kids are ugly and their partners are fat.

    OO's = Owner occupiers.

    I think the 7 was a keyboard slip - should have been &:o will edit.
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • bendix
    bendix Posts: 5,499 Forumite
    When the un- and underemployed have mobile phones as a standard. When every home in the country has 1 or 2 televisions (a large proportion of them flat screen giants). When every drive-way has a modern car in it. When most families - irrespective of income or lack of it - somehow contrive to be able to afford a holiday abroad every year. When one house in two features a satellite dish. When kids have unfettered access to the internet almost as a right. When housewives have access to cheap ready made meals meaning they no longer spend all their lives preparing food for their families. When central heating is the norm, not the exception. When home ownership statistics have never been higher. When leisure time is longer than working time. When obesity is far more prevalent than hunger. When the media is reflective of working men's tastes, not the ruling elite.

    Yes, i think it's safe to say people have never had it so good.

    To argue that this generation doesnt have an immeasurably better quality of life than every single generation in history is fatuous nonsense.

    Ergo, we've never had it so good. That Lord got it bang on and that he had to apologise to the whining classes for stating the obvious proves my point exactly.
  • Pete111
    Pete111 Posts: 5,333 Forumite
    Mortgage-free Glee!
    Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    Cleaver wrote: »
    As I've just pointed out, I was on a fixed for five years for the latter half of the last decade and I've just fixed again for the next five years at a cheaper rate. On a £100,000 mortgage I'll pay £3,600 less on my mortgage over the next five years compared to the previous five years. My income is the same, therefore I'm better off. Surely there will be lots of people like us?

    Originally Posted by lemonjelly viewpost.gif
    My other feeling is that household incomes are slowly being squeezed. Accordingly the disposable incomes of households, to spend on things like leisure, luxuries etc is reducing. I don't see this as a positive, and I definitely don't think it has remained the same through the recession.
    My other feeling is that household incomes are slowly being squeezed. Accordingly the disposable incomes of households, to spend on things like leisure, luxuries etc is reducing. I don't see this as a positive, and I definitely don't think it has remained the same through the recession.


    I agree with that.
    Also, people experiencing the kinds of things you describe - cautiousness, worry, apprehension - are unlikely to feel happy in themselves, contented, well off etc.


    I agree with that too.

    I guess all I was thinking was that his comments will echo a lot of of people and weren't that bad - just an opinion. But the media and government reaction is as if he's just told the nation that all of their kids are ugly and their partners are fat.

    I hope this doesn't come across wrong mate, but it kinda feels to me that you're contradicting oyurself a little here?
    Cleaver wrote: »
    Erm, well, it's a bit difficult for me to answer that as I earn treble now what I earned in 2003 when we first got our mortgage. So yes! But that's not really a good example. ;)

    Lucky you!:T You're right, bad example to use!;)

    I'd argue that the majority of households are not benefitting from low IR's (because they are renters, or have no outstanding mortgage, or are not on SVR's). Conversely, I would say that the majority of households have seen incomes fall (because of job losses, overtime losses, reductions in hours, wage cuts) and disposable income fall (because of price rises, wage reductions).

    Therefore I don't feel the lord is speaking for the majority.

    I hope that makes more sense!:o
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • lemonjelly
    lemonjelly Posts: 8,014 Forumite
    1,000 Posts Combo Breaker Mortgage-free Glee!
    bendix wrote: »
    When the un- and underemployed have mobile phones as a standard. When every home in the country has 1 or 2 televisions (a large proportion of them flat screen giants). When every drive-way has a modern car in it. When most families - irrespective of income or lack of it - somehow contrive to be able to afford a holiday abroad every year. When one house in two features a satellite dish. When kids have unfettered access to the internet almost as a right. When housewives have access to cheap ready made meals meaning they no longer spend all their lives preparing food for their families. When central heating is the norm, not the exception. When home ownership statistics have never been higher. When leisure time is longer than working time. When obesity is far more prevalent than hunger. When the media is reflective of working men's tastes, not the ruling elite.

    Yes, i think it's safe to say people have never had it so good.

    To argue that this generation doesnt have an immeasurably better quality of life than every single generation in history is fatuous nonsense.

    Ergo, we've never had it so good. That Lord got it bang on and that he had to apologise to the whining classes for stating the obvious proves my point exactly.

    Not many satellite dishes round here mate. My council estate we all have digital HD.;) Think you're still stuck in the 90's.

    Oh, & I await the backlash from the housewives who, on reading your post could be a teensy weensy bit incensed that they should apparently be spending all their time preparing meals for their families....:eek:
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Cleaver wrote: »
    Hamish will be along shortly with the very latest stats.

    :D

    Roughly 20 million houses in owner occupation, of which 11.5 million have a mortgage.

    The average mortgage interest being paid today is 3.4%, versus north of 5% in 2007.

    Of all the people in full time employment before the recession, around 95% of them are still in full time employment today.

    Average wages have increased at around 2% throughout the recession, and continue to increase today, and less than 30% of people have had a pay freeze.

    Yes, we'll all now pay higher VAT, but we all also paid lower VAT when it was dropped to 15% too.

    Unemployment peaked some time ago at levels far lower than projected, private sector job growth is far higher than public sector job losses so far, and the OBR project it to remain so.

    75% of people who lose their job are back in full time work within 6 months.

    Inflation was below target for quite some time to the benefit of all, and whilst it is now above target, when you strip out the tax rises, CPI is just 1.4%.

    Overall Lord Young is right.

    Most people have never had it so good.

    But thats not a politically acceptable narrative when you're cutting benefits and need to portray things as worse than they are.....
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • bendix
    bendix Posts: 5,499 Forumite
    lemonjelly wrote: »
    Not many satellite dishes round here mate. My council estate we all have digital HD.;) Think you're still stuck in the 90's.

    Oh, & I await the backlash from the housewives who, on reading your post could be a teensy weensy bit incensed that they should apparently be spending all their time preparing meals for their families....:eek:


    They shouldn't. That's just my point. 20, 30, 40, 50 years ago they did. Now they don't. They're not expected to anymore and even those that want to do it can do it in a fraction of the time their peers used to take.

    If that isn't never having it so good, I'm a banana.
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    :D

    Roughly 20 million houses in owner occupation, of which 11.5 million have a mortgage.

    The average mortgage interest being paid today is 3.4%, versus north of 5% in 2007.

    Of all the people in full time employment before the recession, around 95% of them are still in full time employment today.

    Average wages have increased at around 2% throughout the recession, and continue to increase today, and less than 30% of people have had a pay freeze.

    Yes, we'll all now pay higher VAT, but we all also paid lower VAT when it was dropped to 15% too.

    Unemployment peaked some time ago at levels far lower than projected, private sector job growth is far higher than public sector job losses so far, and the OBR project it to remain so.

    75% of people who lose their job are back in full time work within 6 months.

    Inflation was below target for quite some time to the benefit of all, and whilst it is now above target, when you strip out the tax rises, CPI is just 1.4%.

    Overall Lord Young is right.

    You're like a stats machine Hamish. Is there any other forum where I could ask an open question of a user, in the middle of a weekday, without knowing if he's online or not and within the hour I get a full breakdown of stats answering the question.

    Okay, next task. Which is the fastest animal over land, in the air and in the water? And if you put each of them in the other two environments who would come second and third? Which would win in a fight?
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