A few stats

Pobby

I thought a bit of food for thought

http://!!!!!!!.com/bqslqce

A few stats re the economy. Mortgage debt seemed low, then I thought there are still a large proportion of people who rent, older folk with little or no mortgage.

8,652 new debt problems were dealt with by the CAB each working day over the year to September. Now hang on, that is around a quarter of a million people being contacted by just one agency.

318 people are declared insolvent or bankrupt every day (based on Q4 2011 trends). This is equivalent to 1 person every 62 seconds during each working day .On a 30 day month that tells me that 9540 people are going BR .

93 properties are repossessed every day (based on Q4 2011 trends) Not a happy place to be.

For me, I wish that there had been a control on lending. After years of Tory pain Labour had new start. What a start it could have been.

After the worry of interest rates getting out of control under Thatcher and her housing boom, we could have returned to the norm of around 8% . No real housing boom . For myself I was borrowing , at one point on my business at 17% .

I am sure that most people would like to pay a lot less for their homes yet pay the historic interest. That means that savers have more money to invest or spend in economy without strangling business or screwing over people.

Crazy that the " higher ups " didn`t see all this coming. Unlike mere mortals like myself and a few friends.

I leave this open.

vivatifosi

Morning pobster. Sounds interesting, but I can't get the link probably because it doesn't get past MSE filters. Any chance of spelling it out with gaps so we can look it up? Thanks!

mystic_trev

vivatifosi wrote: »

Morning pobster. Sounds interesting, but I can't get the link probably because it doesn't get past MSE filters. Any chance of spelling it out with gaps so we can look it up? Thanks!

Try this

http://www.creditaction.org.uk/helpful-resources/debt-statistics.html

I used to post them, but it got a bit boring with the same 'doom and gloom' every month.

The average car costs £18.33 per day to run.

Mine costs less than £5

Thrugelmir

Pobby wrote: »

For me, I wish that there had been a control on lending. After years of Tory pain Labour had new start. What a start it could have been.

......and Brown burnt the lot. While losing control of the residential property market and allowed banks to over lend.

IveSeenTheLight

Some alternative stats for your stats

Pobby wrote: »

I thought a bit of food for thought

http://!!!!!!!.com/bqslqce

A few stats re the economy. .........

8,652 new debt problems were dealt with by the CAB each working day over the year to September. Now hang on, that is around a quarter of a million people being contacted by just one agency. Alternatively this represents 0.41% of the population*

318 people are declared insolvent or bankrupt every day (based on Q4 2011 trends). This is equivalent to 1 person every 62 seconds during each working day .On a 30 day month that tells me that 9540 people are going BR . Again alternatively, this represents 0.0159% of the population*

93 properties are repossessed every day (based on Q4 2011 trends) Not a happy place to be. This represents 0.00031% of homeowners**

.............................

After the worry of interest rates getting out of control under Thatcher and her housing boom, we could have returned to the norm of around 8% IIRC, the historical norm is around 5%. Your 8% is calculated on a more recent average taking in the abnormal highs of 16% over a shorter period.. No real housing boom . For myself I was borrowing , at one point on my business at 17% .Yes, these were historical abnormalities and not the historical norm.

* Population stat used as a rough 60m
** Homeowners used as a rough 30m

StevieJ

Thrugelmir wrote: »

......and Brown burnt the lot. While losing control of the residential property market and allowed banks to over lend.

What does that mean?

Jennifer_Jane

Pobby! How are you doing?

Thrugelmir

StevieJ wrote: »

What does that mean?

Failure to regulate the banks properly in any form was a major mistake. Politicians comprehensively failed to grasp what was occurring.

Pobby

Jennifer, thanks for asking . Doing not to bad thank you. Hope you are well.

Regarding interest rates, here is a graph that is covering 1975 to the present day . I fail to see average rates at 5%.

http://www.omegaaccountancy.co.uk/bank-of-england/base-rates.html

IveSeenTheLight

Pobby wrote: »

Jennifer, thanks for asking . Doing not to bad thank you. Hope you are well.

Regarding interest rates, here is a graph that is covering 1975 to the present day . I fail to see average rates at 5%.

http://www.omegaaccountancy.co.uk/bank-of-england/base-rates.html

Here's one to include the whole of the last century.



Indeed, we could go back even further



How does that historical average work out now?