andykn Posted June 17, 2009 Share Posted June 17, 2009 I can only presume that their figure is for someone with a large (as a proportion of their take-home pay) SVR mortgage. Only a small proportion of the population are in that situation, though. The bears will tell you that there's lots of people coming off fixed rates now unable to renegotiate another deal due to lack of equity. 2-3 year fixes were common 2-3 years ago. Trackers will all be well down too. Quote Link to comment Share on other sites More sharing options...
SMAC67 Posted June 17, 2009 Share Posted June 17, 2009 Rent static, every other household expense has increased, cost of running car has increased, wages have decreased, interest on savings have decreased, pension value has disappeared into a blackhole. I earn less, my overheads are higher, discretionary spending decreasing by the day. Is this what recovery looks like? Quote Link to comment Share on other sites More sharing options...
Minos Posted June 17, 2009 Share Posted June 17, 2009 Rent static, every other household expense has increased, cost of running car has increased, wages have decreased, interest on savings have decreased, pension value has disappeared into a blackhole. I earn less, my overheads are higher, discretionary spending decreasing by the day. Is this what recovery looks like? I think it's what the good Doctor described as the great leveling. Quote Link to comment Share on other sites More sharing options...
CokeSnortingTory Posted June 17, 2009 Share Posted June 17, 2009 I haven't noticed much of a difference tbh. But then again I'm an utter skinflint. Quote Link to comment Share on other sites More sharing options...
SMAC67 Posted June 17, 2009 Share Posted June 17, 2009 I think it's what the good Doctor described as the great leveling. I have no debt, Gordon Brown however has taken out a massive loan against my productivity and given the proceeds to the indebted, is this what is mean't by the great levelling. Take money from those in surplus and give to those in deficit. If that is the case then I want a share of the asset............... Quote Link to comment Share on other sites More sharing options...
andykn Posted June 17, 2009 Share Posted June 17, 2009 Rent static, every other household expense has increased, cost of running car has increased, wages have decreased, interest on savings have decreased, pension value has disappeared into a blackhole. I earn less, my overheads are higher, discretionary spending decreasing by the day. Is this what recovery looks like? Your car doesn't run on petrol or diesel, then? Petrol is nearly 10% cheaper than May '08 according to the AA: http://www.theaa.com/motoring_advice/fuel/ Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted June 17, 2009 Share Posted June 17, 2009 Your car doesn't run on petrol or diesel, then? Petrol is nearly 10% cheaper than May '08 according to the AA:http://www.theaa.com/motoring_advice/fuel/ no cherry picking there eh? The price in May 08 was unsustainable for most! Quote Link to comment Share on other sites More sharing options...
SMAC67 Posted June 17, 2009 Share Posted June 17, 2009 (edited) Petrol down (but slowly rising again), oil up, spare parts up, cost of mechanic down, road tax static, insurance up, road side assistance up, cost of parking up, depreciation increasing. Total cost of running my car increasing, not decreasing................ Years working in procurement has taught me that you have to consider the TOTAL COST, not one part. As a general rule most people do not understand this concept, that is why they do not understand the TOTAL COST of property ownership, they always underestimate it. (Just watch Sarah Beeney when she asks the people on her program about costs, they haven't a clue and forget things like mortgage payments). Life is getting more expensive for the majority, only the elite are enjoying price cuts, but then, that is the plan isn't it. Keep the wealthy on top. The problem will arise when they have taken everything, the majority have nothing, and a revolution breaks out. In order for our current system to survive the elite have to give the masses bread and circuses. Now that they are removing both they may not like what happens next. Our elites are commiting suicide by proxy................ Edited June 17, 2009 by SMAC67 Quote Link to comment Share on other sites More sharing options...
BalancedBear Posted June 17, 2009 Share Posted June 17, 2009 If you think rental yields are holding up, I'd keep that to yourself or you'll end up being Bannerised (libelled by a buffoon). Rental yields are only holding up, because yields are being calculated based on the current values of properties, not the amount they were purchased for. Any landlord who paid more for a property than it is currently valued, has had to write off a tidy sum of capital and probably has a very low yield too. Quote Link to comment Share on other sites More sharing options...
R K Posted June 17, 2009 Share Posted June 17, 2009 I'm pretty sure petrol was more expensive 12 months ago, that's the timescale that matters. It was around 130p. It's now around 100p. So it's lower than last summer by quite some margin. WTIC oil looks to be ready for a 'C' wave back towards $30-40 to me. So even if sterling pulls back against the dollar (which isn't what the dollar collapsanistas think) then petrol may stay lower in sterling terms. Quote Link to comment Share on other sites More sharing options...
andykn Posted June 17, 2009 Share Posted June 17, 2009 no cherry picking there eh? The price in May 08 was unsustainable for most! It was just the easiest of the two price inflation related moans that was easiest to refute with figures, "every other household expense" is equally completely wrong. Quote Link to comment Share on other sites More sharing options...
andykn Posted June 17, 2009 Share Posted June 17, 2009 Rental yields are only holding up, because yields are being calculated based on the current values of properties, not the amount they were purchased for. Any landlord who paid more for a property than it is currently valued, has had to write off a tidy sum of capital and probably has a very low yield too. But we're talking about inflation here. Claim rents aren't dropping and risk being labelled a VI by the plentiful tinfoil hat brigade round here. Quote Link to comment Share on other sites More sharing options...
andykn Posted June 17, 2009 Share Posted June 17, 2009 Petrol down (but slowly rising again), oil up, spare parts up, cost of mechanic down, road tax static, insurance up, road side assistance up, cost of parking up, depreciation increasing. Total cost of running my car increasing, not decreasing................Years working in procurement has taught me that you have to consider the TOTAL COST, not one part. As a general rule most people do not understand this concept, that is why they do not understand the TOTAL COST of property ownership, they always underestimate it. (Just watch Sarah Beeney when she asks the people on her program about costs, they haven't a clue and forget things like mortgage payments). Life is getting more expensive for the majority, only the elite are enjoying price cuts, but then, that is the plan isn't it. Keep the wealthy on top. The problem will arise when they have taken everything, the majority have nothing, and a revolution breaks out. In order for our current system to survive the elite have to give the masses bread and circuses. Now that they are removing both they may not like what happens next. Our elites are commiting suicide by proxy................ And there was me thinking the rich were going to have to pay more tax next year and the poor won't be paying more for motoring as they don't have cars. Quote Link to comment Share on other sites More sharing options...
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