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Realistbear

Shock Data From Wales Shows 97% Of Earnings Go On Bills

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http://news.bbc.co.uk/1/hi/wales/4796075.stm

Last Updated: Wednesday, 16 August 2006, 05:43 GMT 06:43 UK
Cardiff and Edinburgh top the league for the cost of living in the UK, according to a survey.
They have overtaken London as the most expensive places to live, once income is taken into account, the YouGov poll for an insurance firm claims.
The study found people in the Welsh capital commit an average 97% of their monthly earnings to paying the bills.
For Edinburgh, the figure was 93%, while London was ninth at 73%, after cities including Leeds and Southampton.

If Welsh sheeple are already paying out 97% of their existing income to live, it is hard to see how RICs can be right about people still being enthusiastic about buying more expensive housing? :blink:

Looks like the age-old nemesis of HPI, earnings, is choking the housing market.

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http://news.bbc.co.uk/1/hi/wales/4796075.stm

Last Updated: Wednesday, 16 August 2006, 05:43 GMT 06:43 UK
Cardiff and Edinburgh top the league for the cost of living in the UK, according to a survey.
They have overtaken London as the most expensive places to live, once income is taken into account, the YouGov poll for an insurance firm claims.
The study found people in the Welsh capital commit an average 97% of their monthly earnings to paying the bills.
For Edinburgh, the figure was 93%, while London was ninth at 73%, after cities including Leeds and Southampton.

If Welsh sheeple are already paying out 97% of their existing income to live, it is hard to see how RICs can be right about people still being enthusiastic about buying more expensive housing? :blink:

Looks like the age-old nemesis of HPI, earnings, is choking the housing market.

I posted on this earlier on this morning- its an amazing stat from wales- reckon its that old keeping up with the joneses phenomenon that is rife in south wales! mew mew mew!

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Guest mattsta1964

I posted on this earlier on this morning- its an amazing stat from wales- reckon its that old keeping up with the joneses phenomenon that is rife in south wales! mew mew mew!

97%!!!!

Jaysus. That is a shocker!

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No surprise,

It is what many people have been warning about for ages. A large proportion fo the UK popuation is technically bankrupt, they have been encouraged to get into this position the banks, the BOE (with their rate setting and debt based consumption policies) and the government to support their short term electorial gains.

We are beyond the point of no return and worse the rate of increase in debt is pushing ever more people into the same situation, enouraged/frightenned into doing so by the last rate drop.

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These stats on Edinburgh come as no surprise.

People are paying 110K for one bedroom tenement flats in Leith, which would have cost 40K 6 years back, right next door to where Begbie would live if he was real.

To give you a flavour two of our friends live in such flats. One of them has had one of her neighbours break in twice, he's a convicted rapist just out of jail. The other girl has had similar problems with neighbours too but not quite so extreme.

People are taking on interest only mortgages to buy these places.

It's absolute madness.

Scotland has a falling population. Shrinking employment and the lowest salary averages, yet here we are with part of the House Price boom epicentre in our capital.

It all started to go wrong when they built that billion dollar building (thanks for paying for that UK tax payers - very generous of you, but next time we would prefer some hospitals or something) - the Scottish Parliament. Everyone got obsessed with the fact that trillions of new people would be moving to Edinburgh. Of course they didn't.

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Income after bills in Cardiff £29/month

Income after bills in Edinburgh £55/month

Income after bills in London £471/month

Even £471 seems very low to me. For Edinburgh and Cardiff virtualy any fairly minor expense would push them over the edge.

Edited by Della

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Difficult to see how house prices can increase much further in Cardiff and Edinburgh if the average person is nearly spent out. Anyone like to disagree?

PS. That Elvis avatar is freaking me out

Edited by greencat

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Income after bills in Cardiff £29/month

Income after bills in Edinburgh £55/month

Income after bills in London £471/month

Even £471 seems very low to me. For Edinburgh and Cardiff virtualy any fairly minor expense would push them over the edge.

Sorry but i don't believe this.

£29 a month to spend in the pub?

£1 a day dsiposable income.

That has got to be bull, what exactly do bills include?

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Sorry but i don't believe this.

£29 a month to spend in the pub?

£1 a day dsiposable income.

That has got to be bull, what exactly do bills include?

It seems to be true, according another article about families with 2 children the main drivers are:

Mortgages which have gone up on average 98% since 2002

Council tax up 30% since 2002

Petrol up 34% since 2002

Utilities up 40% since 2002

Pay up 15% since 2002

Just what happens when everyone in a city goes insolvent at almost the same time? That seems to be what is going to happen, it must do, it's inevitable.

Edited by Della

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  • 301 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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