Debt levels soar

RenovationMan

Hmnn, better not have a go at Devon, the last time I did, this happened:



:rotfl:

de1amo

i was thinking how that grave stone was tactless when there wasa report recently saying depression and suicides are up due to the financial problems!

İ should think the debt levels are going up as people cant get mortgage extensions to cover their lifestyle which has been developed over years of excess!

Personally i have no debt aprt from a small mortgage but i live a great life!

moneyinmypocket

For the record although I have no debt, I also have no more than a couple k in the bank, I tend to spend what I bring in. My point was if I want a new computer for example I will save a few months to buy it instead of buying it now and then paying it off

chucky

RenovationMan wrote: »

You are just putting your own twist on this. I never said anything about wracking up debt on frivolities, nor indeed did I say anything about anything. I merely posted a cartoon and left others to interpret the meaning it holds for them. We now know what it means to you, and this serves a good example of why you need to escape your prejudices and your negative mindset graham.

It's the usual pattern, you post something and the reply is something irrelevant full of soundbites that goes with the sentiment of the ghetto posters here. It's great to watch, it's just like an extreme religious sect.

homelessskilledworker

MacMickster wrote: »

Does anybody know what proportion of families have no debts other than a mortgage?

Once those families were removed from the equation we would be able to see how indebted the average family with debts was.

For average debt to have increased by so much in so short a period this points to a ticking time-bomb of debt, with these families becoming ever more indebted as they struggle to both service their debts and meet their living expenses. This at a time when we are meant to be seeing responsible lending.

I am pretty certain that more than 50% of properties in the UK have no mortgage, and those that have one most have pletty of equity.
Of course the size of the UK mortgage debt is huge, there are a sizable minority in the UK with a LOT OF DEBT, and some very frightened people.

If there is a property crash most will be unscathed.

chucky

homelessskilledworker wrote: »

I am pretty certain that more than 50% of properties in the UK have no mortgage, and those that have one most have pletty of equity.
Of course the size of the UK mortgage debt is huge, there are a sizable minority in the UK with a LOT OF DEBT, and some very frightened people.

If there is a property crash most will be unscathed.

I think it's about 40% that are mortgage free.

Thrugelmir

homelessskilledworker wrote: »

If there is a property crash most will be unscathed.

Except the equity in their property is for many their pension scheme.