Wednesday, Aug 27, 2008
UK's Debt league table
daily mail: Middle-class families struggling with the biggest debts in Britain
Middle-class families have the biggest debts in the country with many borrowers owing more than £50,000, a study reveals.
Those living in wealthier areas such as London and the South-East have borrowed almost four times as much as those living in Scotland and parts of the North-West.
It shows how those living in regions with the highest house prices have been allowed to run up the largest debts.
Posted by sold out @ 07:55 AM (604 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Prof said...
"It means the average house price in the South-East, which was £400,000 at the start of the year, could soon be only £280,000."
ONLY £280K ! Great ! That`s so cheap, I`ll buy two.
2. Chang Chang said...
For the past ten years the main advantage of being middle class (ie earning an above average salary) has been that you could borrow more money from your bank or building society. In today's climate what seemed a blessing has morphed into a monster.
South East Middle Class sweating up something rotten now.
3. shipbuilder said...
How many is 'many'? As someone else mentioned - do the debts include a car? If so, then this is more than a little hype. Spending will slow of course, but it doesn't seem to spell financial armageddon just yet.