House Price Crash forum: Households 'under Real Pressure' As Essential Spending Jumps - House Price Crash forum

Jump to content

powered by
Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

Households 'under Real Pressure' As Essential Spending Jumps 75% of income goes on essentials for nearly 50% Rate Topic: -----

#1 User is offline   interestrateripoff 

  • Carry on banking.....
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 44,338
  • Joined: 24-June 08

Posted 19 March 2012 - 10:52 AM

http://www.telegraph...ding-jumps.html

Quote

Households remain “under real pressure” across the UK with consumer spending on essentials growing at its highest rate in almost two years, according to the Lloyds TSB Spending Power report.

Consumers continued to be squeezed in February, with 46pc of people putting at least three-quarters of their income towards bills and other essentials.

Spending on essentials grew 6pc year on year in February, driven by high utility bills, as water bills increased by 15.9pc and gas and electricity spending went up 10.5pc annually.

Patrick Foley, chief economist at Lloyds TSB, said: “Households remain under real pressure. Any improvement in this situation will depend on lower inflation on essentials as income growth is likely to remain weak in the short term.

“We would expect households to start seeing the benefit of lower inflation in the next few months, assuming oil prices don’t continue to rise sharply, and with an improvement in consumer sentiment and spending.”


No mention of either over priced houses or inflated rent.

We won't have lower inflation it will still be going up!

This post has been edited by interestrateripoff: 19 March 2012 - 10:52 AM

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

Posted Image

#2 User is offline   rantnrave 

  • HPC Senior Veteran
  • PipPipPipPipPip
  • Group: Members
  • Posts: 4,265
  • Joined: 13-August 10

Posted 19 March 2012 - 10:54 AM

When is this going to feed through to lower house prices? Shirely this is a case of 'when' not 'if'?

#3 User is offline   moonriver 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 2,546
  • Joined: 17-March 08

Posted 19 March 2012 - 11:07 AM

From the article...

“job security” is at its highest level for almost two years".

and.... "the economy has performed better than many expected and the threat of a double-dip recession seems to have diminished.”


:unsure:
That sounds like a bit of wishful thinking to me.

#4 User is offline   JustAnotherProle 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 1,354
  • Joined: 13-December 07

Posted 19 March 2012 - 11:11 AM

View Postrantnrave, on 19 March 2012 - 10:54 AM, said:

When is this going to feed through to lower house prices? Shirely this is a case of 'when' not 'if'?


It won't, you may have noticed that house prices are static or rising, they don't ever "go down", this is UK Plc, low housing costs are for other countries, even if a mass plague hit the world and 90% of the UK died off, it will still be "business as usual" for estate agents. ;)
"Debt is the slavery of the freePublilius Syrus (1C BC)

Proud Citizen of Airstrip One.

Posted Image

"It is not the law that takes freedom from us, but the laziness of our own minds, the unwillingness to think for ourselves and so resign, even momentarily, from the herd.” - Lewis Lapham

#5 User is offline   Timak 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 2,129
  • Joined: 30-May 08

Posted 19 March 2012 - 11:12 AM

View Postmoonriver, on 19 March 2012 - 11:07 AM, said:

From the article...

“job security” is at its highest level for almost two years".

and.... "the economy has performed better than many expected and the threat of a double-dip recession seems to have diminished.”


:unsure:
That sounds like a bit of wishful thinking to me.


The economy is doing great, it's just the people who are doing badly.
___________________________________________________________________________________________________The correct answer to every statement is "It's a little bit more complicated than that"

#6 User is offline   JustAnotherProle 

  • HPC Veteran
  • PipPipPipPip
  • Group: Members
  • Posts: 1,354
  • Joined: 13-December 07

Posted 19 March 2012 - 02:10 PM

View PostDurch, on 19 March 2012 - 01:30 PM, said:

'People are using the 'Great Die Off' as an opportunity to move up the property ladder. This is creating a lot of competition for the very best places, some going to sealed bids, and this fierce competition is, in turn, trickling down, dragging up prices across the board. In addition, the new money being fed into the market through what can only be described as an 'early, unexpected inheritance bonanza' is simply adding fuel to the conflagration. We are simply rushed off our feet.'

<_<


Genius. You can imagine them gleefully waiting for the next Home Office Death Figures figures so they can ramp up the prices even more with all that pent up inheritance cash "and thriving undertakers with huge amounts of disposable cash desperate to find a home in bricks and mortar".
"Debt is the slavery of the freePublilius Syrus (1C BC)

Proud Citizen of Airstrip One.

Posted Image

"It is not the law that takes freedom from us, but the laziness of our own minds, the unwillingness to think for ourselves and so resign, even momentarily, from the herd.” - Lewis Lapham

#7 User is offline   wonderpup 

  • I live on HPC!
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 9,401
  • Joined: 22-April 08

Posted 19 March 2012 - 07:16 PM

Quote

“job security” is at its highest level for almost two years".


I thought making people easy to sack was a keystone of economic recovery? Is it to much to ask that the bullshite at least be consistent?

If high job security is deemed a positive for the economy- then the cunning wheeze of making people easier to discard than toilet paper might not be such a good idea? Or was that last weeks idea?

This post has been edited by wonderpup: 19 March 2012 - 07:16 PM


#8 User is online   aSecureTenant 

  • Formerly Socially Housed and 'Steed'
  • PipPipPipPipPipPipPip
  • Group: Members
  • Posts: 20,563
  • Joined: 21-May 07

Posted 19 March 2012 - 07:30 PM

View PostJustAnotherProle, on 19 March 2012 - 02:10 PM, said:

Genius. You can imagine them gleefully waiting for the next Home Office Death Figures figures so they can ramp up the prices even more with all that pent up inheritance cash "and thriving undertakers with huge amounts of disposable cash desperate to find a home in bricks and mortar".


Well you would get the few thousand Brits left, hoarding all the land. I'd grab all of Norfolk personally. Its me pension innit! ;)
"Capitalism has defeated communism. It is now well on its way to defeating democracy" - David Korten

"The real tragedy is not whether lib lab or con will win but that one of them will" - Sir Harold m



Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users