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TheCountOfNowhere

Parents 'cut Back On Food To Pay For Homes'

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Whilst I suspect the headline is a little misleading,the simple reality is that real incomes,particualrly for low earners,are declining and have been since 2008.

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It's propaganda to make interest rate rises seem evil.

The real problem is joint income mortgages and at increasing salary multiples. It was 3x main income, leaving any 2nd income disposable. It's now 4x, 4.5x or 5x joint income, meaning the second income is now also largely servicing debt. Too much lending, too much debt, families struggle while bankers are happy.

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Wages need to rise.

There's a thread on that somewhere............

With the slow down in China a likely hard landing / full property crash, I can't see wages here rising. If anything the Yuan will be devalued causing wage deflation an job losses on this side of the world.

I guess the west will counter print and we will be back where we are now in another lost decade.

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We've got a cultural Anglo Saxon aversion to spending money on food...we are second only to the US in this, with the second lowest spend as a percentage of our incomes in the world.

Guilty myself...would rather spend it on something else...not houses obviously.

The French think we are mad.

Edited by crashmonitor

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We've got a cultural Anglo Saxon aversion to spending money on food...we are second only to the US in this, with the second lowest spend as a percentage of our incomes in the world.

Guilty myself...would rather spend it on something else...not houses obviously.

The French think we are mad.

The French are right.

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Whilst I suspect the headline is a little misleading,the simple reality is that real incomes,particualrly for low earners,are declining and have been since 2008.

According to most Conservative MPs, anyone earning £80,000 or less is a 'low earner'.

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From the look of most British people these days, missing a few meals would seem quite a good idea.

Giving up their cars to cycle or walk instead might do them a bit of good as well.

No doubt however, some highly paid government employee has now deduced that eating less makes you more fat, and walking causes cancer, or something.

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If you spend more than 25% of your take home pay on the mortgage you are not going to be able to afford having a life. Anybody who disagrees probably works for a bank or is a RE agent.

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Wages need to rise.

There's a thread on that somewhere............

Eat some bricks.

House prices need to crash.

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House prices need to fall.

There's a forum on that somewhere............

:wub:

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