eric pebble Report post Posted February 27, 2011 (edited) Cost of living crisis pushes 'squeezed middle' off the housing ladder. http://www.guardian.co.uk/business/2011/feb/26/cost-of-living-crisis-housing People on low to middle incomes are facing a "perfect economic storm", which is cutting their living standards and dramatically reducing their ability to buy their own homes, new research will show this week. The independent Resolution Foundation is to launch a major inquiry into living standards among the so-called "squeezed middle", having identified economic trends – in existence since the 1970s – that have led wages for this income group to grow at a slower rate than the economy. The foundation, which aims to improve the lot of 11.1 million people, will reveal evidence that home ownership is slipping out of the reach of those living in households with below-median earnings. Strange how they don't mention the Elephant in the Room - i.e. House "prices" were artificially and fraudulently inflated by Wall Str/City "Mortgage Backed Security" Ponzi/Pyramid scam and LIAR LOANS --- and we are now living with the consequences. Shocking how this is STILL not reported mainstream every hour of the day. :angry: Edited February 27, 2011 by eric pebble Quote Share this post Link to post Share on other sites
EmmaRoid Report post Posted February 27, 2011 Broadly, they are defined as not wealthy enough to benefit from private markets but too prosperous to receive benefits from the state. What are the "private markets" they speak of? Quote Share this post Link to post Share on other sites
whiterabbit Report post Posted February 27, 2011 (edited) They also for got to mention that 3 million immigrants (thanks to their mates the Labour party) have overwhelmingly hurt lower and middle class incomes while at the same time causing rents to rise. Edited February 27, 2011 by whiterabbit Quote Share this post Link to post Share on other sites
Tired of Waiting Report post Posted February 27, 2011 Cost of living crisis pushes 'squeezed middle' off the housing ladder. http://www.guardian.co.uk/business/2011/feb/26/cost-of-living-crisis-housing This was v. interesting: It will also highlight evidence showing that someone at the lower end of these incomes will take 45 years to accumulate a deposit to buy a home if they save an average 5% of their income a year. This compares with less than 10 years during periods in the 1980s and 1990s. (,,,) Strange how they don't mention the Elephant in the Room - i.e. House "prices" were artificially and fraudulently inflated by Wall Str/City "Mortgage Backed Security" Ponzi/Pyramid scam and LIAR LOANS --- and we are now living with the consequences. Shocking how this is STILL not reported mainstream every hour of the day. :angry: + 1 Quote Share this post Link to post Share on other sites
Tired of Waiting Report post Posted February 27, 2011 What are the "private markets" they speak of? Exactly. I read that sentence 3 times, I still don't get it. Quote Share this post Link to post Share on other sites
EmmaRoid Report post Posted February 27, 2011 Exactly. I read that sentence 3 times, I still don't get it. bump, still interested in what these "private markets" are that I'm not benefitting from. Quote Share this post Link to post Share on other sites
MC Fur Q Report post Posted February 27, 2011 bump, still interested in what these "private markets" are that I'm not benefitting from. Sorry, can't tell you about the private markets because they're private. Unlucky. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 28, 2011 They also for got to mention that 3 million immigrants (thanks to their mates the Labour party) have overwhelmingly hurt lower and middle class incomes while at the same time causing rents to rise. Yup. This country is seriously F****D. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 28, 2011 Sorry, can't tell you about the private markets because they're private. Unlucky. Maybe it's wealthy Arabs with suitcases of cash? Quote Share this post Link to post Share on other sites
SomethingHasToGive Report post Posted February 28, 2011 They also for got to mention that 3 million immigrants (thanks to their mates the Labour party) have overwhelmingly hurt lower and middle class incomes while at the same time causing rents to rise. I know I'm not necessarily the best person to know about this, but from purely anecdotal evidence I've gathered when talking to the few friends I know who rent it doesn't look like rents have risen significantly in the last 10-12 years ( in line with inflation or less ). Either I'm living in an area unaffected by rent rises ( Berkshire ), they are pure ******** or my sample size is much too small. Quote Share this post Link to post Share on other sites
Guest sillybear2 Report post Posted February 28, 2011 VAT is going up because corporations find every possible means to avoid paying taxes. Quote Share this post Link to post Share on other sites
Superted187 Report post Posted February 28, 2011 Who ever coined the idea that housing was one giant super fun happy ladder that kept going up and up? Quote Share this post Link to post Share on other sites
fellow Report post Posted February 28, 2011 Who ever coined the idea that housing was one giant super fun happy ladder that kept going up and up? Surely it get's harder to climb a ladder if the rungs keep moving further apart (prices keep rising). Hopefully prices will fall enough for me to skip a couple of 'rungs' completely. Quote Share this post Link to post Share on other sites
SHERWICK Report post Posted February 28, 2011 It will also highlight evidence showing that someone at the lower end of these incomes will take 45 years to accumulate a deposit to buy a home if they save an average 5% of their income a year. So, with someone starting to earn money when they're 16, they'll finally save up a deposit for their first 1 bedder by the time they reach 61. Or, if they're lucky and start work at 10 as a chimney-sweep, they can get their first bedsit at 55. HOORAY! Quote Share this post Link to post Share on other sites
DustyDog Report post Posted February 28, 2011 So, with someone starting to earn money when they're 16, they'll finally save up a deposit for their first 1 bedder by the time they reach 61. Or, if they're lucky and start work at 10 as a chimney-sweep, they can get their first bedsit at 55. HOORAY! And that only gets them the deposit. They still have 25 years of mortgage payments to go. Quote Share this post Link to post Share on other sites
Jack's Creation Report post Posted February 28, 2011 VAT is going up because corporations find every possible means to avoid paying taxes. No, thats not the reason VAT is going up. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 28, 2011 same in the est mids.if anything they're down over the last 2/3 years,particualrly at the higher end. Higher end is a lot better value than the bottom end. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted March 1, 2011 No, thats not the reason VAT is going up. +1! Quote Share this post Link to post Share on other sites
Self Employed Youth Report post Posted March 1, 2011 I think we have reached the point where nobody can afford to buy. As homelessness increases, there is only one solution. We must demolish empty homes. House prices can then go up again! Quote Share this post Link to post Share on other sites
Stars Report post Posted March 1, 2011 I think we have reached the point where nobody can afford to buy. As homelessness increases, there is only one solution. We must demolish empty homes. House prices can then go up again! If house prices were more sturdy, banks could offer cheaper mortgages to FTBs. So perhaps the sensible thing to do is knock down all the houses so FTBs can get mortgages on buying them Quote Share this post Link to post Share on other sites
eric pebble Report post Posted March 1, 2011 If house prices were more sturdy, banks could offer cheaper mortgages to FTBs. So perhaps the sensible thing to do is knock down all the houses so FTBs can get mortgages on buying them You could push a lot of them down with one hand... Quote Share this post Link to post Share on other sites
