Friday, Aug 22, 2008
Still debt junkies ... and it's getting worse not better
Yahoo: Personal Debt exceeds Britain's GDP (again)
Stephen Gifford, Grant Thornton's chief economist, said: "[..]there is no cause for panic as personal debt is well covered by the UK housing stock'.
Great, so nothing to worry about there then.
Posted by montesquieu @ 03:23 AM (596 views) Add Comment
7 Comments
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1. Noodlebike said...
So dont worry, we can all sell our houses at once to mystery buyers and pay back our personal debt and go and live in the woods.
2. malct said...
http://www.creditaction.org.uk/debt-statistics.html
3. it_is_going_with_a_bang said...
Covered by the housing stock? Now don't people need somewhere to live?
4. cyril said...
so if the value of houses continues to go down much more, technically we are insolvent?
5. renting2 said...
Unbelievably skewed thinking.
6. enuii said...
So have we got a 110% mortgage on the UK or not yet?
7. matt_the_hat said...
I can remember the hooharr when we broke the 1 trllion barrier not so long ago now, lets just slap another 44% on that.