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What's going on here? Personal debt
Comments
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does this include mortgages?0
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Just months before the financial crash the Tories were backing Labours spending plans yet they knew they had borrowed way too much in a growing economy between 2002-2007.
All about getting elected this politics stuff and theres very little between the main parties.
Brown knew the state of the banks though. Too deep in with his cronies by then to backtrack.0 -
mayonnaise wrote: »Are you sure about that, Graham?
It sure looks like it stagnated from 08-09, but paying down?
Quite sure. Take a look at credit card debt on your graph.
(I don't really get your overarching point anyway. What was it?)0 -
Interestingly, 70% of renters have unsecured personal debts but only 40% of homeowners do. This won't help renters to get mortgages in a downturn. They will need bigger deposits but based on the stats are actually more likely to have debts than cash.0
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westernpromise wrote: »Interestingly, 70% of renters have unsecured personal debts but only 40% of homeowners do. This won't help renters to get mortgages in a downturn. They will need bigger deposits but based on the stats are actually more likely to have debts than cash.
that might not be as bad as it seems,
older people tend to own and younger people rent
older people tend not to take out credit cards younger people do
age standardized it would probably be closer0 -
A quick Google shows there are 6.9m mortgages in UK ans according to linked article average mortgage debt increased £2000 so there's nearly £14 billion of increase.0
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Its Christmas Dev, and don't forget there are no roof racks on a hearse.Official MR B fan club,dont go............................0
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It's not me. I buy nowt.
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it's definitely me
the amount i've overspent this year, i'd be tempted to file for bankruptcy just to avoid looking into my finances next year.0
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