Jump to content
House Price Crash Forum
Sign in to follow this  
AvidFan

Total Uk Household Debt Looks Like It's Levelled Out

Recommended Posts

http://www.creditaction.org.uk/july-2009.html

Total UK personal debt at the end of May 2009 stood at £1,459bn. This has slowed further to 1.4% in the last 12 months which equates to an increase of ~ £17.9bn (the increase was ~£116bn in January 2008).

Given that mortgage lending was running at over £30bn a month at it's peak, £17.9bn total new debt in the last 12 months represents a catastrophic collapse in the willingness of UK citizens to enslave themselves and also the supply of credit with which to do it.

Share this post


Link to post
Share on other sites
http://www.creditaction.org.uk/july-2009.html

Given that mortgage lending was running at over £30bn a month at it's peak, £17.9bn total new debt in the last 12 months represents a catastrophic collapse in the willingness of UK citizens to enslave themselves and also the supply of credit with which to do it.

well, maybe it means a switch from mortgage debt to other debt.....this is very bad indeed.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.