Jump to content
House Price Crash Forum
Sign in to follow this  
Lord D'arcy Pew

Half of UK adults are financially vulnerable.

Recommended Posts

https://www.theguardian.com/money/2017/oct/18/uk-adults-financially-vulnerable-fca-interest-rate-rise

Quote

 

Half of the UK population are financially vulnerable with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator.

The Financial Conduct Authority’s biggest ever survey of households found that 4.1 million people are already in serious financial difficulty, falling behind with bills and credit card payments, with 25- to 34-year-olds the most over-indebted.

 

I see where they are going with this.

What does vulnerable adult mean?

From the perspective of NHS, a vulnerable adult is a patient who is or may be for any reason unable to take care of him or herself, or unable to protect him or herself against significant harm or exploitation.

It is important to note that no mention of capacity or competence appears in our definition. Whilst it is clear that any patient who lacks capacity will by definition be vulnerable, many patients with capacity may still be unable to take care of themselves, or unable to protect themselves from significant harm or exploitation; often due to the infirmity that lead them to become patients in the first place.

 

 

Share this post


Link to post
Share on other sites

what the housebuilders need to start doing is installing ATMs into the newbuilds, that way people can literally draw money OUT OF THEIR HOUSE as it goes up in value

 

then if you feel like quitting work, you can just walk outside, draw some money out of your house since its gone up in value, then use it as a down payment on a BTL to chuck a few youngsters into on short term contracts. 

 

TOP TIP: be careful not to share your PIN number with passers by.

 

I'm astounded no one has thought of this yet

Share this post


Link to post
Share on other sites
5 minutes ago, Lord D'arcy Pew said:

https://www.theguardian.com/money/2017/oct/18/uk-adults-financially-vulnerable-fca-interest-rate-rise

I see where they are going with this.

What does vulnerable adult mean?

From the perspective of NHS, a vulnerable adult is a patient who is or may be for any reason unable to take care of him or herself, or unable to protect him or herself against significant harm or exploitation.

It is important to note that no mention of capacity or competence appears in our definition. Whilst it is clear that any patient who lacks capacity will by definition be vulnerable, many patients with capacity may still be unable to take care of themselves, or unable to protect themselves from significant harm or exploitation; often due to the infirmity that lead them to become patients in the first place.

 

 

I'm whit Venger on these kind of things....fec 'em, it's their own fault, no one has forced them to live the way they do.

I knew a work colleague, ran up massive debts, went bankrupt, then laughed cause he only paid 5 p in the £ on his debts.

 

****

Share this post


Link to post
Share on other sites

"Half of the UK population are financially vulnerable with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator."

FCA saying an interest rate rise would hurt too many people?


Spot the BoE overlaps..

Quote

 

Share this post


Link to post
Share on other sites
6 minutes ago, TheCountOfNowhere said:

I'm whit Venger on these kind of things....fec 'em, it's their own fault, no one has forced them to live the way they do.

I knew a work colleague, ran up massive debts, went bankrupt, then laughed cause he only paid 5 p in the £ on his debts.

 

****

proper ****

but who are the real MUGS here?

 

your colleague, who views it as a bit of a game, or those of us who "do the right thing"

 

 

Share this post


Link to post
Share on other sites
33 minutes ago, TheCountOfNowhere said:

I'm whit Venger on these kind of things....fec 'em, it's their own fault, no one has forced them to live the way they do.

I knew a work colleague, ran up massive debts, went bankrupt, then laughed cause he only paid 5 p in the £ on his debts.

 

****

Don't blame the people blame the system......all built into the risk.;)

Share this post


Link to post
Share on other sites
9 minutes ago, thewig said:

proper ****

but who are the real MUGS here?

your colleague, who views it as a bit of a game, or those of us who "do the right thing"

Actually quite a few of them have my sympathy.

On BBC News at 1pm, they also said "if rent goes up £50 a month" to show how hard it is for many people.

So I do have sympathy with such people.   Renters, in this economy.  Especially younger ones, who have no bomad, and have to get by themselves, and young families - although tax-credit stuff tempers it a bit.

In a different reality, where house prices are meant to go down (that's what housing is meant to do in a productive economy imo) they wouldn't be in this situation.

Quote

 

FEB 2, 2014 
In World's Best-Run Economy, House Prices Keep Falling -- Because That's What House Prices Are Supposed To Do

...the fact is that the German economy is by any standards one of the world’s most successful. Just how successful is apparent in, for instance, international trade. At $238 billion in 2012, Germany’s current account surplus was the world’s largest. On a per-capita basis it was nearly 15 times China’s and was achieved while German workers were paid some of the world’s highest wages. Meanwhile German GDP growth has been among the highest of major economies in the last ten years and unemployment has been among the lowest.


...On Wiles’s figures, German house prices in 2012 represented a 10 percent decrease in real terms compared to thirty years ago. 

That is a particularly astounding performance compared to the UK, where real prices rose by more than 230 percent in the same period. (Wiles's commentaries can be read here and here.)

https://www.forbes.com/sites/eamonnfingleton/2014/02/02/in-worlds-best-run-economy-home-prices-just-keep-falling-because-thats-what-home-prices-are-supposed-to-do/#1f346fff6ad0

 

Although 2014, and big quest on from some VIs to get Germany to let rip the HPI+ questing, and been money inflows.

As it is, in UK, so many (younger) tenants kicking up to BTL landlords with really expensive house prices.

They are up against it, in this world of longwave HPI seekers / BTLers.

And I've show my support for credit-card 'persistant debt' to be wiped away.  It's a hardship to have someone on the hook, who has already paid x4 of what they originally borrowed, unable to break free from that debt.  Especially in this economy of HPI++ BTLers having laid claim to so many homes.   Going into debt for food/family, against HPI+/BTLers still so totally in position?

Many have been made vulnerable because of the way the economy has been structured past 18 years.  

My only non-sympathy is with those who buy/bought/own.  They made their choices in the market, and if market ever turns down, they are responsible for their own market decision and their position.  Owning outright/having a mortgage is all on them.   All those who whinge that 'need to protect the HPI mad-gainz, and have more QE, because owners of extreme priced housing make for people who are confident enough to buy Range Rovers and stuff in the economy.'

Share this post


Link to post
Share on other sites
56 minutes ago, thewig said:

what the housebuilders need to start doing is installing ATMs into the newbuilds, that way people can literally draw money OUT OF THEIR HOUSE as it goes up in value

 

then if you feel like quitting work, you can just walk outside, draw some money out of your house since its gone up in value, then use it as a down payment on a BTL to chuck a few youngsters into on short term contracts. 

 

TOP TIP: be careful not to share your PIN number with passers by.

 

I'm astounded no one has thought of this yet

i sort of instant equity release, i like it. 

Share this post


Link to post
Share on other sites

@Venger those on the hook for credit card DEBT already paid 4x over knew what they were signing up for, individuals, market, choices. 

No one forced them at gunpoint to fill out the forms, or would you prefer some ultra superior squad to decide who is allowed to take on a credit card. These people are adults. Choices. Market. 

 

 

Share this post


Link to post
Share on other sites
46 minutes ago, TheCountOfNowhere said:

I'm whit Venger on these kind of things....fec 'em, it's their own fault, no one has forced them to live the way they do.

I knew a work colleague, ran up massive debts, went bankrupt, then laughed cause he only paid 5 p in the £ on his debts.

 

****

indeed 

 

don`t play the game have nothing 

play the game might win, if you lose hit the reset button start a new game rinse repeat. 

landlords should  have been extracting money and buying gold then having a burglary to lose it legally. 

Share this post


Link to post
Share on other sites
8 minutes ago, sPinwheel said:

I know!! What next. Count praises someone for buying a semi detached in Northamptonshire??

Someone's bought a semi in Northants, if they paid under £500K, well done to them.

Share this post


Link to post
Share on other sites

if this figure of £50 per month is true then surely there is big trouble coming.

It is not just rent that goes up.

2.5% inflation on all outgoings  of £2000/month =£50.

Lucky inflation is nowhere near 2.5%

What do the BOE stress tests allow for?

Perhaps an extra 50p per week of expenditure.

 

 

Share this post


Link to post
Share on other sites
2 hours ago, thewig said:

send em all to prison innit bruv

 

the matrix is glitching imo

Well they will go to prison if the bill they miss is the BBC Licence Fee... still enforced through the criminal law...

Share this post


Link to post
Share on other sites
25 minutes ago, dryrot said:

Well they will go to prison if the bill they miss is the BBC Licence Fee... still enforced through the criminal law...

Want a TV your prison cell?

Still have to.pay....

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 295 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.