Cost of living crisis

StevieJ

Davesnave wrote: »

In 2008, 24 countries together accounted for 90% of UK
food supply. Just over half of this (52%) was supplied

domestically from within the UK.

Source: Defra
No, not a lot, just over half of what we consume.....;)

And almost certainly a much higher % if we had to.

ukcarper

Davesnave wrote: »

In 2008, 24 countries together accounted for 90% of UK
food supply. Just over half of this (52%) was supplied

domestically from within the UK.

Source: Defra
No, not a lot, just over half of what we consume.....;)

Perhaps we will have to go back to eating what’s in season.

Davesnave

ukcarper wrote: »

Perhaps we will have to go back to eating what’s in season.

Difficult to change habits of a [STRIKE]lunchtime[/STRIKE] lifetime, but yes.

With a bit of thought, we can adapt to use more of what we grow. For example, I use home-grown squash in stir fries, rather than buy often disappointing & expensive winter-grown courgettes, trucked in from Alicante.

Haven't cracked a banana substitute yet, though!

ukcarper

In the past I have had to cut my cloth so to speak and I think the young generation of homeowners will do the same. After all it’s one thing to say I will really struggle if mortgage payments go up and cutting back on things to keep your home.

Silverbull

The housing bubble has not burst yet. The longer something stays way out of wack from the long term norm it usually overshoots on the correction. So when this bubble does pop its going to be a big bang.

StevieJ

AD9898 wrote: »

The recession was caused by the the inevitable collapse of a housing bubble, so no housing bubble, no recession.

In the US, if it had been caused by a UK housing bubble it would have been a localised recession instead of the worldwide downturn that we have just experienced.

StevieJ

Silverbull wrote: »

The housing bubble has not burst yet. The longer something stays way out of wack from the long term norm it usually overshoots on the correction. So when this bubble does pop its going to be a big bang.

So how could it have caused the recession

Pobby

Stevie, my guess is that HPI draws a lot of peoples disposable income away from circulating in the economy into paying for the mortgage. I know people who have great deals on their mortgages but the capital still needs to be paid back. Interest, at an all time low and people are paying, after tax, a grand a month on the mortgage of say £!50k. I also know a sub prime pair of friends paying that on just over £100k property,currently paid off at 70.

On the other hand, folks who have been part of private pensions are seeing dreadful returns, I won`t mention savers.

Have a look at Northern Ireland and its crash.

StevieJ

Pobby wrote: »

Stevie, my guess is that HPI draws a lot of peoples disposable income away from circulating in the economy into paying for the mortgage. I know people who have great deals on their mortgages but the capital still needs to be paid back. Interest, at an all time low and people are paying, after tax, a grand a month on the mortgage of say £!50k. I also know a sub prime pair of friends paying that on just over £100k property,currently paid off at 70.

On the other hand, folks who have been part of private pensions are seeing dreadful returns, I won`t mention savers.

Have a look at Northern Ireland and its crash.

Then again

The average homeowner spent just 15.4% of their take-home pay on mortgage repayments in December, the lowest level since Barclays first started carrying out the analysis in 2002.

thescouselander

The cost of living is certainly going up. We've had a bit of an austerity drive in our household recently and have managed to reduce our discretionary spending by almost £600 per month. Good for our savings, bad for the economy I fear.