Death of the Middle Classes?

michaels

Good to see you around Horsey. I bought in 2010 and hope to be fully offset within the next 2 years at which point I expect my mortgag to be an income source.

ranchero

kabayiri wrote: »

I was thinking about this.

...

When it comes to replacing service sector jobs, where is the parallel though ?

If you sell a house, you sell a house dont you? Technology may help you sell more of them and increase your productivity, and your industry colleagues wedded to slower methods may wither and fade.

...

A interesting example, as estate trading services sector is apparently the one which has seen the largest increase in jobs lately. Are we going to sell each other our houses??

The_White_Horse

michaels wrote: »

Good to see you around Horsey. I bought in 2010 and hope to be fully offset within the next 2 years at which point I expect my mortgag to be an income source.

what was the price of the property?

what are your earnings?

what was the deposit you put down?

what is the monthy repayment?

Loughton_Monkey

The_White_Horse wrote: »

you're sadly mistaken.

people who bought in the 70's etc had massive salary inflation.

You got that right! Probably 15% salary rise! Massive! Only about 12% less than inflation at the time.

The_White_Horse wrote: »

you're out of touch monkey.

Coming from you, I take that as an enormous compliment. But in reality, nothing could be further from the truth. I keep perfectly in touch by reading every single post of Ruggedtaste and Graham_Devil. Hence your statement is rather insulting to these good people. If these two don't have their fingers on the pulse, who does?

kabayiri

TWH misses the point a little.

It is the ongoing generation of quality jobs with significant remuneration levels which underpins the middle tier in society.

Wasn't it Gordon Brown who spoke of creating a high value Knowledge Based workforce during those heady hey day early noughties. To reinforce this fact Higher Education numbers have moved to 50% from less than 10% going to Uni in my day. The intent was clear.

A reality where 4 out of 5 new jobs being created pay less than £8 per hour does not suggest an economy creating masses of high value knowledge based jobs. In the same timeframe pay rates at board level have maintained increases well beyond inflation.

At some point, you have to ask yourself, is technological progress there to advance the welfare of the many or the few?

Thrugelmir

kabayiri wrote: »

Wasn't it Gordon Brown who spoke of creating a high value Knowledge Based workforce during those heady hey day early noughties. To reinforce this fact Higher Education numbers have moved to 50% from less than 10% going to Uni in my day. The intent was clear.

He didn't though during the term in office. Majority of activity was a spin off from the vast amounts of credit circulating through the system. Why get a job and qualifications, when buying and selling renovated property provides a better income.

grizzly1911

kabayiri wrote: »

TWH misses the point a little.

It is the ongoing generation of quality jobs with significant remuneration levels which underpins the middle tier in society.

Wasn't it Gordon Brown who spoke of creating a high value Knowledge Based workforce during those heady hey day early noughties. To reinforce this fact Higher Education numbers have moved to 50% from less than 10% going to Uni in my day. The intent was clear.

A reality where 4 out of 5 new jobs being created pay less than £8 per hour does not suggest an economy creating masses of high value knowledge based jobs. In the same timeframe pay rates at board level have maintained increases well beyond inflation.

At some point, you have to ask yourself, is technological progress there to advance the welfare of the many or the few?

Never mind hundreds of thousands of students are being loaded with debt to keep the lie going and dysfunctional cities and towns afloat here and now.