House prices by 2015

chucky

Graham_Devon wrote: »

So what do you think IS frightening?

2...3....10x the annual output of the entire country?

so you're asking a question because you don't know what is frightening and it's just your opinion they are maxed out.

Originally Posted by Graham_Devon
Loads of people up and down the country are already saddled with debt and maxed out on it.

if people were "maxed out" we wouldn't have Sky subscriber numbers constantly increasing, shops would have very low sales and people would no longer be spending in gyms, coffee shops etc...

there is a big difference.

Graham_Devon

ukcarper wrote: »

The argument was we are struggling under a mountain of debt some people are but if someone on average earning with the average debt is not if it’s on a mortgage in fact I would say that if the had twice the average dept on mortgage they wouldn’t be struggling under a mountain of debt. Not all dept is bad if you are earning 30k and have a mortgage of £100k I would say that’s fine if you are earning £30 and have £30k outstanding on a credit card I would say that is not good.

Well yes, I agree. But you keep ignoring the bigger picture and suggesting that someone inside of that picture is likely to be ok.

We all know that someone is likely to be ok. Some with debt are likely to be more than ok, and just want to keep their debt going for whatever reason.

However, all your arguments ignores, and are purposely written to ignore the fact that debt is increasing, the numbers looking for help are increasing, the numbers going bankrupt is increasing and the total owed is.....whaddyaknow, increasing.

The bigger picture is consistenly blanked out. Hamish is trying to do it above. Chucky is trying to do it above.

The figure is increasing year on year, no matter which way you look at it. Those in crisis is increasing year on year.

Yet we have on here, chucky trying to suggest things are fine because people watch sky, and Hamish completely ignoring the fact that it doesn't matter what the debt is made up of, it is, still debt.

originalmiscellany

Bring it back to the original qn:
2015:
I think house prices to be broadly level (a little lower actually) with where we are now.
Next 2 years = 5% off each year, then 1 years after will be a 0% growth, with a final year of 5% growth taking us a few % lower than where we are currently.

Public Sector job cuts are beginning to bite, and will take all of this year to fully feel the effect. Most public sector jobs have had a pay freeze for several years, and will continue next few years too. Most people I know aren't exactly paying down their debt at a rapid rate, meaning the next few years with interest rate rises/inflation continuing a tighter pinch.

But hey what do I know

chucknorris

Graham_Devon wrote: »

The average household in the UK has £58,000 of debt hanging over them.

Individuals owe more in debt than the entire country produced in 2010.

What are we not supposed to believe?

Does that figure include mortgages? If so that is surprisingly low, my mortgage debt is almost 600k but it's an easily managed debt, 58K is nothing if it includes mortgages

HAMISH_MCTAVISH

chucknorris wrote: »

Does that figure include mortgages? If so that is surprisingly low, my mortgage debt is almost 600k but it's an easily managed debt, 58K is nothing if it includes mortgages

Yes, it includes mortgages.

And given that the average rent is now around £700 a month, it works out to just 6.9 years rent.

chucknorris

HAMISH_MCTAVISH wrote: »

Yes, it includes mortgages.

And given that the average rent is now around £700 a month, it works out to just 6.9 years rent.

Yes I was going to mention the comparison of mortgage payemnt on that figure v average rent but I was waiting for the confirmation, that it included mortgages. So what Graham is saying is that it's much better to own than rent (which of course we both know anyway).

chucky

HAMISH_MCTAVISH wrote: »

Graham, that figure includes mortgages.

Now given that if they weren't paying their mortgage, they'd still have the same or indeed a greater expenditure on rent but for a lifetime not a fixed term, this is a classic case of debt being good.

The average unsecured debt figure is £8428 per household. This has reduced from £9500 per household in 2009.

is that what he calls "maxed out"???

what a drama queen :rotfl:

HAMISH_MCTAVISH

And...........

Graham vanishes from the thread.

What a surprise.

Graham_Devon

chucky wrote: »

is that what he calls "maxed out"???

what a drama queen :rotfl:

Thats the average for anyone with any unsecured debt.

Whether thats £250 or £90,000.

You are missing the point. As usual. Though I'm sure you are missing it on purpose.

Debt enquries rising. Bankrupcies rising. Debt rising. Explain all that if you don't think theres a problem. But you won't, as your not really here to debate, your here to laugh and simply ignore anything that doesn't suit your own vested interest viewpoint.

HAMISH_MCTAVISH wrote: »

And...........

Graham vanishes from the thread.

What a surprise.

Fail.

chucky

Graham_Devon wrote: »

Debt enquries rising. Bankrupcies rising. Debt rising. Explain all that if you don't think theres a problem.

and sky subscribers rising at a faster rate than people are being made unemployed... yep, you're right.