£1.7 Trillion in personal debt, no wonder people cannot afford to buy a home.

triathlon

PasturesNew wrote: »

I doubt my £5/year spend on booze would make any difference.

To buy a house you have to have income first..... that young lady obviously HAD the income and was just pee'ing it up the wall. Fewer have the income to start with, so giving up all manner of things won't make one jot of difference.

And those are the type of people who have never ever in UK history owned property, and nor should they, owning a home is not a God given right

lisyloo

triathlon wrote: »

And those are the type of people who have never ever in UK history owned property, and nor should they, owning a home is not a God given right

No it’s not the same it’s a greater section of society (off to get links).

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/2018

AG47

The government is spending more than income, slipping further Nd further into debt with no light on the horizon

Why not follow their example?

lisyloo

Herzlos wrote: »

No millennial is in £100k+ debt because of avacadoes and iphones.

My nephew (30) is in debt because he’s spent beyond his means mainly on cars, motorbikes, iphones, Apple Watch etc.
At times he was earning £4K per month and he lives at home.

At his age I had some equity in my property and a 5 figure pension fund.
At a rough estimate I’m going to say £50k pension, £10k equity, £10k savings vs £10k debt, which is an £80k difference.

So not just on advocaco toast, but you can certainly mis-manage your money to that extent.

lisyloo

AG47 wrote: »

The government is spending more than income, slipping further Nd further into debt with no light on the horizon

Why not follow their example?

Because it’s a stupid example to follow.