Wednesday, Mar 26, 2008
Strange Place to Find this Warning........
M&G investments: Warning over 'UK house price crash'
It has been claimed that the UK's economy could be heading for a sharp consumer slowdown similar to that seen in the United States if house prices continue to fall.
According to Capital Economics, the similarities between UK and US consumers are "disturbing", with the UK consumer sector suffering from the same build up of imbalances as in the US.
The group added that a key driver of the slump in the US had been falling house prices, which are now being seen in the UK too.
And it said that people in the UK are more indebted than those in the US, with total household debt now standing at the equivalent of 175% of household disposable income, compared with only 128% for Americans..................
Bit of a cosmetic ending.
Posted by plato @ 08:31 PM (687 views) Add Comment
4 Comments
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1. malct said...
A clear warning nevertheless Plato - M&G ?
The resources page of this HPC website has a couple of links giving some background to UK debt
Credit Action http://www.creditaction.org.uk/debt-statistics.html
CIA yes that one Central Intelligence Agency on country's current accounts https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html - clue if you're looking for UK and US go straight to the end of the list. I really wish it was a joke. Probably is in China and Russia.
2. plato said...
malct
My daily visit to M&G resulted in my seeing this 'warning' when it was the furthest thing from my mind. The shock was : Why ? The news to me was not new -- it's the motive that makes me wonder.
Thanks for the sites, I'm familiar with a lot of the stats but not with the positions on the list. That's another shock today then. Great to get some proper info' instead of fixed opinions -- that's what life is about. Opinions count for nothing without knowing the truth. Thanks again.
3. malct said...
today's article 'FSA Northern Rock floating in the English Channel' has 25 comments (most of them mine) and over 800 hits, not bad for a second article ? Many thanks for your positive contribution - good luck.
4. malct said...
closing thought - what a busy HPC day - take a look at the volume of postings
wonder what tomorrow will bring!