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apom

Most Home Owners Ar Fine

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Is Average household debt in the UK is approximately £7,684 (excluding mortgages) and £45,085 including mortgages.

http://www.creditaction.org.uk/debtstats.htm

Now the average person is fine.

However how many owe a little itsy bit more then this?

just a tinny weiny extra hundred thousand or so?

Just that troublesome little re-mortgage because they fancied a shiny new car..? a new kitchen...? perhaps a holiday?

That person who just bought.

I would like to see a modal average of debt..

and nice statistical bell curve..

I would like to see Mr "BTL" Landlord with his £7,000,000 on paper housing assetts looking a little concerend at his debt which is £6,500,000 making a phone call to his financial adviser asking how prices can go down as well as up.

getting a little shaky realising that the only way he can shift his property is to find another BTL Landlord who wants to pay even more inflated prices then he paid himself and doesent mind making a loss.

Edited by apom

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Guest Charlie The Tramp
However how many owe a little itsy bit more then this?

In a recent survey, I believe it was 15 million who could survive for not more than a month if they lost their job.

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Guest Bart of Darkness

The average includes people like me (and others on HPC) who have no debt at all.

Some other poor sod's got my £7,684 worth.

15 million people who couldn't survive for more than a month if they lose their jobs is a big slice of the working population. Add to that the people who could survive for a month or two more, but no longer thasn that, and the position of Mr (and Ms) "Average" begins to look a bit more untenable.

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Just had a conversation with BTL investor here at work..

I mentioned that prices had been on their way down for a year according to home track.

He said that they were not at all and then quoted several vested interest buy to let figures..

the crash is impending and too many people don's seem to understand that the free money has gone, the sensible investors have left and whatever happens to prices there was a period where the prices were reported, but never reached..

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The averages are looking rather bad, but its never the averages that tip the balance...in the last crash only a few % of the total number of houses was repossessed.

Look at the Credit Action link on this site.

Personal debt rising £1million every 4 minutes....or £1 every 4 hours for EVERY MAN WOMAN AND CHILD. Thats £6 a day, or just over £2k a year. So for and "AVERAGE" family of 4 with an "AVERAGE" household income of £30k (£20 net) £8k a year. So they are spending £7 for every £5 they earn!!! (Spend 28 earn 20)

This cannot go on for long!

Anyone care to pull apart/add to my working here?

James.

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Just had a conversation with BTL investor here at work..

I mentioned that prices had been on their way down for a year according to home track.

He said that they were not at all and then quoted several vested interest buy to let figures..

the crash is impending and too many people don's seem to understand that the free money has gone, the sensible investors have left and whatever happens to prices there was a period where the prices were reported, but never reached..

It's funny; for all it's faults I've found the hometrack reports to be the most accurate reflections of the market's current state.

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Most Home Owners Ar Fine, Average household debt..

Even more households were only mildly exposed to a stock market crash in 2000. Didn't stop it happening.

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In a recent survey, I believe it was 15 million who could survive for not more than a month if they lost their job.

Presumably a month after their next 'paycheck' was due. Is this really true?

By survive do you mean staying in the black (paying back the minimum repayments on credit etc) on a month by month basis?

15 million workers must be around half the UK workforce.

I know things are bad (and set to worsen) but are they really that bad?

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Guest Charlie The Tramp
Presumably a month after their next 'paycheck' was due. Is this really true?

It was discussed on this forum a while back with the links.

Maybe someone can dig it out. zzg appears not to be around, he`s your man for that.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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