Monday, Jan 21, 2008
Bit to early to go bargain hunting...
Firstrung: Guess who's back? Not first time buyers that's for sure...
It's been quite a while since any economic market commentators mentioned the 'boiled frog syndrome'. With EDF announcing a spectacular hike in energy prices today, approx 14.5% on gas prices alone, the average mortgage costing over £1500 more than this time last year, car insurance and petrol prices up, mortgages coming off their teaser rates, council tax bill announcements for 2008 on the way... it may be worth reckoning up and noting that the great British consumer has to find close on 2K extra net this year (vis a vis 2007) to effectively stand still. This is not withstanding the fact that the average food basket is now costing 6.5% more than this time last year...
Posted by converted lurker @ 12:46 AM (415 views) Add Comment
4 Comments
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1. Prof said...
This article is absolute rubbish. CPI is 2.1%, so how can food be 6.5% more expensive than a year ago ?
Who`s telling porkies ?
2. Orwell said...
Rubbish!
Mr. Smith of Economist fame dictates that inflation is only about 2% and he shouod know because Mr. Murdoch tells him that this is the case....
3. hpwatcher said...
Anyone would have to be nuts to buy now.....
Moreover, prices are still far too high for FTB's and - given the additional deposit required by the banks - prices will need to fall a lot further before they return to affordable levels.
4. it_is_going_with_a_bang said...
"Lesser spotted FTB" lol
Affordable level must be at least 30% off todays prices.