Household finances at breaking point

Graham_Devon

Rising bills and high housing costs are pushing many household budgets "to breaking point", with one in 11 people worried they will not be able to afford their rent or mortgage this month, according to research from Shelter.

The housing and homelessness charity said it was currently seeing a "stream of cases" of families who had been unable to cope with mounting rent or mortgage payments, and added that some of them "could face the very real prospect of losing their home this year".

The warning comes days after a report from the Resolution Foundation thinktank indicated that more than a million homeowners could be at risk of defaulting on their mortgages and losing their properties in the wake of even a small rise in interest rates. Meanwhile, a recent survey carried out by Which? found that rather than paying off their debts, around 13 million people paid for Christmas by borrowing more money.

The Shelter research, based on a YouGov survey of more than 4,000 adults, found that 9% of those quizzed feared they would not be able to afford to pay the rent or mortgage at the end of this month.

The charity said families were the worst affected, with more than two-thirds (70%) of rent or mortgage payers with children describing themselves as either "struggling" or "falling behind" with their payments, compared to 63% of the general population of renters and homeowners.

It's a shelter study, so obviously seen not even worthy as toilet paper on here.

However, it's not just shelter warning of it now. It's which and also the resolution foundation. Alas, they are probably confused little bods worthy of nothing but a pardon either.

Though if you can get past the prejudice as it's not painting a picture of overflowing optimism, the figures are worrying. Especially as costs look as if they could be spiralling (in terms of accomodation).

This, is the other side of the "wealthy" happy clapping every cost increase putting pressure on familes up and down the country.

http://www.theguardian.com/money/2014/jan/03/household-finances-breaking-point-shelter

lvader

If household finances are at breaking point how come I can't get a table in Costa Coffee despite there being 3 of them in town, plus all the usual other suspects like Starbucks and Nero?

Graham_Devon

lvader wrote: »

If household finances are at breaking point how come I can't get a table in Costa Coffee despite there being 3 of them in town, plus all the usual other suspects like Starbucks and Nero?

Because not every household is at breaking point?

You could say the same for everything. It doesn't mean the problem doesn't exist.

Some people shopping in Harrods doesn't mean everyone shops in Harrods.

Feel I'm pointing out the glaringly obvious here though!

System

lvader wrote: »

If household finances are at breaking point how come I can't get a table in Costa Coffee despite there being 3 of them in town, plus all the usual other suspects like Starbucks and Nero?

The problem is the thread title as always.

A better thread title might have been:
"360 people who needed to earn 50p to fill in a survey's finances at breaking point."

chewmylegoff

Whether or not you like the organisation carrying out a survey, surveys don't really tell you much beyond what people think or "feel", not whether come the end of the month they will actually default on their mortgage. Bankruptcy / IVA data and trends are far more useful in my opinion and there is no issue there as Nick Griffin is writing a book on how to deal with debt based on his recent bankruptcy, which will save us all.

This doesn't suggest any great surge in bankruptcies although obviously we'll have to wait and see what happened in Q4 and how this year will pan out:
http://www.insolvencydirect.bis.gov.uk/otherinformation/statistics/201311/

Graham_Devon

Joeskeppi wrote: »

The problem is the thread title as always.

A better thread title might have been:
"360 people who needed to earn 50p to fill in a survey's finances at breaking point."

Those 360 people wanting to earn 50p are absolutely fine when the results show something you like?

Thrugelmir

Looking at the widest possibly picture. Then yes hardly surprising some people are struggling. Disposable income is being squeezed for many. With further austerity on the way one imagines.

System

Graham_Devon wrote: »

Those 360 people wanting to earn 50p are absolutely fine when the results show something you like?

We've had this conversation before, and no, they aren't. You're thinking of yourself. Again.

Graham_Devon wrote: »

Fewer than 2,000 people filling in a survey to get 50p.

Woop.

Proves the media, consumer groups, economists, politicans, business groups and journalists wrong. Infact, I'd go as far to say all these talking heads are completely irrelevant now, thanks to those people claiming their 50p.

Graham_Devon

Joeskeppi wrote: »

We've had this conversation before, and no, they aren't. You're thinking of yourself. Again.

We have had this conversation before. The quoted post...have a look at the thread....proves what I was saying. If yougov shows "majority support help to buy", yougov is fine, and apparently, very accurate....until shelter use it, of course.

forums.moneysavingexpert.com/showthread.php?p=60187251

What about the rest of the article then?

wotsthat

Graham_Devon wrote: »

It's a shelter study, so obviously seen not even worthy as toilet paper on here.

What I like is how each survey is subtly different so the trend of an improving economy doesn't have to be admitted.

They must embarrass even themselves.

System

Graham_Devon wrote: »

We have had this conversation before. The quoted post...have a look at the thread....proves what I was saying. If yougov shows "majority support help to buy", yougov is fine, and apparently, very accurate....until shelter use it, of course.

forums.moneysavingexpert.com/showthread.php?p=60187251

What about the rest of the article then?

I didn't even mention shelter in that thread, let alone saying it was fine or accurate, so lets not start with the tedious lies.

In the thread you made the exact same point as I made in this one, are you saying I should have repeated it? Seems a bit whopperish even by your standards. You're having a bit of a nightmare here.