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We ‘Need £27,000 To Survive’

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http://www.express.co.uk/news/uk/449458/We-need-27-000-to-survive

The typical household is paying £2,571.69 a year more for basics such as a mortgage or rent, utilities, food, insurance, loans and motoring.

The biggest cost is food, which sets us back £5,077.28 a year – an increase of £586.04 or 13 per cent.

Mortgages and rent are the second highest outlay, totalling £4,723.92, up more than £200 or five per cent. Car fuel has risen to £2,964.52 this year compared with £2,667.60, an increase of 11 per cent.

I'm not convinced by the figures on rent/mortgages.

£550 a month on rent is £6600 a year and as rents are constantly touted in the press at £700-£800 I wonder what figures the Express are using here.

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All looks sustainable, wage deflation and rising costs.

Mortgages and rent are the second highest outlay, totalling £4,723.92, up more than £200 or five per cent.

The next collapse will happen because people do not have enough money to service past debt at 2%.

>When you add on the 'Nasty Party's' house price inflation scheme the outlook becomes even worse.

>If interest rates rise the outlook is even worse.

You can already see the cracks appearing with food banks and the rise of homelessness.

Expect repossession rates and bad loan provisions (forbearance) to tick up next - Banks here in Ireland have been playing the forberance card for years with many not having paid their mortgage for 4+ years without repercussions.

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http://www.express.co.uk/news/uk/449458/We-need-27-000-to-survive

I'm not convinced by the figures on rent/mortgages.

£550 a month on rent is £6600 a year and as rents are constantly touted in the press at £700-£800 I wonder what figures the Express are using here.

It's in the Express.

Therefore, the likelihood it's true is somewhere between 0, and the chance that this afternoon you're flying on Unicorn Airways.

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