Net wealth in the UK is almost £321,000 per household ....

Jimmy_31

MrRee wrote: »

Remember that if you bought a home for £5,000 in 1966 it will now be worth well over £500,000 ... there are plenty of people who did just that.

It seems to me that a lot of people on here are stuggling to make ends meet and therefore cannot see the other side of the coin where life has never been easier. I do feel sorry for those in the situation I was all those years ago, very poor. But, I can assure you, with hard work and diligence the joys of having spare money will be bestowed upon you.

My mum paid exactly 5k for her house in the mid 70s.

It aint worth anywhere near half a million pounds.

The hard work and diligence comment is bang on though, if things go to plan for me i will have a fair bit of my wages going spare every month as i wont have a mortgage to pay.

I think ill save it up and get a bigger nicer house when the next crash comes along;)

Mallotum_X

How many people does that apply to?

The point is the top 10% of wealthy people own a massive amount of the wealth. Its not evenly dstributed. So a blunt average is meaningless in this context.

It doesnt seem the easist stat to get good data on, which in itself shows how likely the Telegraphs figures to be inaccurate. However a quick google search gave this http://makewealthhistory.org/2009/12/16/wealth-distribution-in-britain/

Unlikely to be impartial given the name of the site, but it does show how the average wealth of the top 20% is more than the other 80%. Pesonally im slightly suprised how "wealthy" the middle areas is. But property wealth makes up such a large % of this, so maybe it makes some sense.

DaddyBear

MrRee wrote: »

Well, Sue, tell that to the thousands of buyers I was fighting with in the Town Centre yesterday ... there is plenty of money around.

Shopping in Primark again?

spadoosh

MrRee wrote: »

Remember that if you bought a home for £5,000 in 1966 it will now be worth well over £500,000 ... there are plenty of people who did just that.

It seems to me that a lot of people on here are stuggling to make ends meet and therefore cannot see the other side of the coin where life has never been easier. I do feel sorry for those in the situation I was all those years ago, very poor. But, I can assure you, with hard work and diligence the joys of having spare money will be bestowed upon you.

So this eliminates anyone under the age of 44.


Just did a quick number crunch and my numbers have come up similar to that of the guardian. except its on the basis that every property in the uk has no mortgage

"It seems to me that a lot of people on here are stuggling to make ends meet and therefore cannot see the other side of the coin where life has never been easier. I do feel sorry for those in the situation I was all those years ago, very poor. But, I can assure you, with hard work and diligence the joys of having spare money will be bestowed upon you"

i am going to assume from this you are a bit of a troll and have little else to do. it also appears there may be some with their head in the clouds with no mortgage to pay and due to circumstance and very little hardwork and diligence have a 5 bed house that far exceeds there lifetime earnings and wealth. You my friend are a product of circumstance and though, im sure, you have worked very hard. Please don't incinuate that people in 2011 in the UK are not struggling especially on a money saving forum.

Jimmy_31

spadoosh wrote: »

So this eliminates anyone under the age of 44.


Just did a quick number crunch and my numbers have come up similar to that of the guardian. except its on the basis that every property in the uk has no mortgage

"It seems to me that a lot of people on here are stuggling to make ends meet and therefore cannot see the other side of the coin where life has never been easier. I do feel sorry for those in the situation I was all those years ago, very poor. But, I can assure you, with hard work and diligence the joys of having spare money will be bestowed upon you"

i am going to assume from this you are a bit of a troll and have little else to do. it also appears there may be some with their head in the clouds with no mortgage to pay and due to circumstance and very little hardwork and diligence have a 5 bed house that far exceeds there lifetime earnings and wealth. You my friend are a product of circumstance and though, im sure, you have worked very hard. Please don't incinuate that people in 2011 in the UK are not struggling especially on a money saving forum.

He is in the 5hit financially and needs house prices to rise.

Fear does strange things to people.

spadoosh

Jimmy_31 wrote: »

He is in the 5hit financially and needs house prices to rise.

Fear does strange things to people.

Ahhs so a housing troll/bear/rabbit whatever there called on these forums.

Rather optimistic telling people they have £000's when clearly most people are not seeing this!!

And Mr Ree, to your point about the high streets being rather busy, i assume you have rarely been christmas shopping. Look at news reports of oxford st and regent st (2 of the largest retail streets in the country) and look at their LFL sales, a 10% drop does not look like people have money to throw around.

Conrad

I've argued forever that certainly accross the home counties a huge proportion of folk have at least £500k in assets, I see it day it day out, just ordinary working folk.

Jimmy_31

spadoosh wrote: »

Ahhs so a housing troll/bear/rabbit whatever there called on these forums.

Rather optimistic telling people they have £000's when clearly most people are not seeing this!!

And Mr Ree, to your point about the high streets being rather busy, i assume you have rarely been christmas shopping. Look at news reports of oxford st and regent st (2 of the largest retail streets in the country) and look at their LFL sales, a 10% drop does not look like people have money to throw around.

He also tells people hes got a fleet of super cars and a large BTL portfolio.

If i had made my money and was now very minted i wouldnt be sat on a money saving website all day.

Hes getting desperate, you can see this by how he gets more and more frantic as the days pass.

I think his wife has also been repossessed as he couldnt keep up the repayments on her (purchased from thailand).

spadoosh

Conrad wrote: »

I've argued forever that certainly accross the home counties a huge proportion of folk have at least £500k in assets, I see it day it day out, just ordinary working folk.

Are we talking net assets or purely assets, cos i could easily say i have half a mil in assets if i bought a veyron on finance however it almost certainly will only ever be the banks.

Are we forgetting what net worth means?!

As a mortgage advisor you probably come across people with lots of assets aswell as liabilities. However as someone who works a bit closer to what i would call the norm (people scraping minimum wage) i only ever see people who struggle day in day out, who work as hard as possible to pay for stuff they can barely afford. People who have never seen a mortgage advisor nor will they. Seeing people laid off on a daily basis. Just to add i certainly am not hard done too and consider myself very well to do. But the people im talking about are the tip of the iceberg, i dont live on a council estate etc and the people i refer to are like most, work in supermarkets, cleaners, carers, labourers. In a pyramid system we might be at the bottom, just remember who's holding you up.

I dont know if in this situation ignorance is bliss but there does appear to a be a lot floating about.

DaddyBear

Conrad wrote: »

I've argued forever that certainly accross the home counties a huge proportion of folk have at least £500k in assets, I see it day it day out, just ordinary working folk.

Yes, but they live in that asset.