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Gordon Brown Says High House Prices Don't Matter

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http://www.bloomberg.com/apps/news?pid=206...MY&refer=uk

Consumer Debt

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

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http://www.bloomberg.com/apps/news?pid=206...MY&refer=uk

Consumer Debt

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

Even if this is true (which I don't believe), how can comparing now to a time which was horrendous for many home owners, not be a problem!

The thick cn*t!!

Edit: This is probably spin. In the early 90's the crash had begun and most stayed clear of buying (debt).

Edited by OzzMosiz

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http://www.bloomberg.com/apps/news?pid=206...MY&refer=uk

Consumer Debt

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

Apart from the fact that it's nonsense, it's telling that the Prime Minister is trying to convince people that houses are not as unaffordable as they were before the last crash. He obviously has something on his mind. :)

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``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

ROFLMAO!! :lol::lol::lol:

In the early 1990s, interest rates were in double figures and millions of people were in negative equity, tied into extortionate mortgages from which they couldn't break free!

That's like saying "Iraqis are now safer than they ever were under Saddam Hussein!"

Oh, wait... :blink:

Edited to add - shouldn't he be comparing it with, ooo, 1997? When, like, his government came to power? :wacko:

Edited by benj

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``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

Could be true if you take into account the many who have benefited from the bubble. Then the minority in dire trouble are swept under the carpet.

Anyway, statements like that just flow out of politicians mouths non stop. Does anyone still believe that rubbish?

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``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

Gahhh. GB's cunning like this. It's technically true: At one particular juncture in the early 90s, when IRs were, what, 15%, then mortgage payments were very high. What he doesn't say is that that situation didn't last that long wheras today's high repayments are going to last, at least if we believe GB's tough words on inflation.

He says things like 'before 1997 children worked up chimneys, under new Labour no children work up chimneys', it's infuriating.

Edited by Ted D. Bear

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Guest pioneer31
At one particular juncture in the early 90s, when IRs were, what, 15%, then mortgage payments were very high. What he doesn't say is that that situation didn't last that long wheras today's high repayments are going to last, at least if we believe GB's tough words on inflation.

That's exactly what I thought, I've just seen the one eyed nerd on the News 24 multi screen.

The guy IS infuriating. He is lying by omission and also spinning like f**k.

Like you say, the 15% episode was short lived.

He said that the enormous debt is a good thing because it indicates that 2 million more people have been able to buy their own homes than under the Tories. HELLLLLLLOOOOO, almost 1 million of those are BTL, you freak!!! Also, add on the fact that many have been panicked into buying, thanks to a daily injection of Property Porn and dire warnings of 'buy now or be left out in the cold' by, amongst others, good old Auntie.

He's also said that we had 3 million unemployed under the Tories. Is it just me that knows that we have more now? There are around 2.5m on incapacity benefit alone. Oh, hang on, you're not unemployed if you're off on the sick are you?

FFS.

I'm going to scream hallelujah when this lying f**k is made to sit and watch his popularity seep away as Britain's Economic miracle evaporates. :angry: :angry:

p.s. Why are top two positions in the govt occupied by Scotsmen?

Edited by pioneer31

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http://www.bloomberg.com/apps/news?pid=206...MY&refer=uk

Consumer Debt

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

This is true, as he is talking about public sector workers on 150k pa salarys.

Hard working British Families are the ones who are paying the price, for their Champagne Socialist Lifestyles.

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``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

He's referring to the incomes stated on mortgage applications, not real incomes, he's as deluded as the FSA and BOE, god help us.

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p.s. Why are top two positions in the govt occupied by Scotsmen?

Because we ARE the master race!!

We run the UK government as well as having our own government to give us lots of nice stuff the English can't afford! Look on it as payback for the time after the Battle of Culloden when your troops went around murdering any children they came across. XXX

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He's referring to the incomes stated on mortgage applications, not real incomes, he's as deluded as the FSA and BOE, god help us.

He is talking about his direct knowlege of the situation, the people he works with, does business with. Those that work in Government, and those the rule the Global Economy.

Of course their incomes have shot up under labour, they dont pay any tax!!!!. And like Blair their mortgages are like pop starts lifetime earnings.

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Hopefully we will end up giving him the William Wallace treatment, hung drawn and quatered (after a good shoeing) and his disgusting vile remains carted off to all four corners of the country (love you too XXX) :P

p.s. Why are top two positions in the govt occupied by Scotsmen?

Because we ARE the master race!!

We run the UK government as well as having our own government to give us lots of nice stuff the English can't afford! Look on it as payback for the time after the Battle of Culloden when your troops went around murdering any children they came across. XXX

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Guest pioneer31
p.s. Why are top two positions in the govt occupied by Scotsmen?

Because we ARE the master race!!

We run the UK government as well as having our own government to give us lots of nice stuff the English can't afford! Look on it as payback for the time after the Battle of Culloden when your troops went around murdering any children they came across. XXX

I can't believe you lot are still smarting about something that happened 100s of years ago. :P Ever considered therapy?

BTW the last lot who thought they were the master race, were made pretty short shrift of. Their leader shot himself. Wonder if GB would do us all a favour and follow suit? ;)

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http://www.bloomberg.com/apps/news?pid=206...MY&refer=uk

Consumer Debt

He said the level of consumer debt in the country, which is at a record high of 1.3 trillion pounds, wasn't causing financial difficulties.

``House prices are higher, and yes, people are having to take out bigger mortgages,'' Brown said. ``But on average people are spending a lower proportion of their income on mortgages and debt than in the early 1990s.''

A lower proportion of their income on mortgages and debt? Can this be true?

Brown is a liar. He also said he sold gold to benefit the UK. He also said there would be no more boom and bust.

Trust him at your peril.

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Hopefully we will end up giving him the William Wallace treatment, hung drawn and quatered (after a good shoeing) and his disgusting vile remains carted off to all four corners of the country (love you too XXX) :P

Yes - Wallace - sacked the city of York and ordered his conquering army to not to harm 'even one' civilian if I remember correctly. Then returned to Scotland cos he saw no benefit in pushing further south after he'd made his point. Then you treated him like that. I hope you're proud of your English history. Gordon will return home eventually too - after you're economy is totally shafted!

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It's not all bad (English history) by the same token it's not all good but then name me a nation on the planet that is (Scotland one presumes) :rolleyes:

I could say I hope your proud of your no1 human export (Brown) though you clearly see him for the prime turd he is so not much point.

Yes - Wallace - sacked the city of York and ordered his conquering army to not to harm 'even one' civilian if I remember correctly. Then returned to Scotland cos he saw no benefit in pushing further south after he'd made his point. Then you treated him like that. I hope you're proud of your English history. Gordon will return home eventually too - after you're economy is totally shafted!

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Gordon has a serious problem here that as with the inflation figures, people will look at that statement and go, what fecking planet is he living on. He needs to watch the bull^hit factor here, as it could turn back on him very easily with what Joe public knows they fork out every month.

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