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Red October

Renters in the uk spend average of 62 per cent of income on rent

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Life for rent, few own and if they do, they own a lot but only for a short period of time....most people rent stuff or pay for services....regular monthly dds taken from income paying rent/fees to others..... many small amounts add up to big fat amounts......;)

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3 hours ago, Red October said:

Massively dubious about that number. Doesn't seem to tally with this. Mucking around in excel it seems to me that you'd need the 40% of private renters who spend more than 50% of their income on rent to be spending 120% of their income on rent in order to make the numbers stack up. I guess that if you limit income to income from employment and include households with no income from employment who are paying the rent housing benefit then you could get some pretty weird looking numbers, but still very sceptical about the headline figure.

 

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4 hours ago, Bland Unsight said:

Massively dubious about that number. Doesn't seem to tally with this. Mucking around in excel it seems to me that you'd need the 40% of private renters who spend more than 50% of their income on rent to be spending 120% of their income on rent in order to make the numbers stack up. I guess that if you limit income to income from employment and include households with no income from employment who are paying the rent housing benefit then you could get some pretty weird looking numbers, but still very sceptical about the headline figure.

 

I just did the numbers and if you assume the worst case scenario (i.e. everyone at the very top of each bracket), then the average comes out at 63.6% of income. So it's just doable with those figures, even if that assumption might look a bit implausible. If you assumed every other bracket was full of people at the top end (i.e. everyone paying 30-40% income was paying exactly 40%, and so on), then I make it that the 40% of people in the 51%+ of income bracket would have to be paying 96% of their income to balance the overall figure to 62%.

Edited by BlokeInDurham
Typo

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9 hours ago, Red October said:

That is shocking, why are likes of the BBC whittling on about foodbanks and food prices going up or fuel prices along with a couple of other utilities, housing for many is by far the most crippling monthly bill. Half that and nobody would have an problems with their other bills.

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  • 298 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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