Wednesday, Oct 18, 2006

Housing ladder out of reach for divorcees

Firstrung: A large proportion of divorcees never get back on the housing ladder

Divorcees tend to be older - 54 on average - and as such are nearer retirement than these other groups. Carrying a high debt burden at this late stage in working life leaves them much more vulnerable. Divorcees are also twice as likely to be unemployed than their married counterparts - 4 per cent compared to 2 per cent.

Posted by converted lurker @ 12:06 PM (596 views)
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1. uncle chris said...

So, the housing market is out of reach for divorcees, ftbs, graduates and anyone earning less than 30,000 (based on 3.2x income) ..... so who exactly is the housing ladder accessible to. Why are we the only ones that can spot the dangers in this scenario - or the only ones willing to openly discuss it.

Wednesday, October 18, 2006 01:05PM Report Comment

2. george monsoon said...

As I see it UC, the only ones happy are those who bought prior to the boom, have inherited enough cash to get on the ladder or are crooked and have lied to secure a mortgage.

I believe the latter is the most common reason based on bend mortgage advisers and deaf mortgage lenders.

I consider myself lucky to be aware of the situation, because as the minority in the know, we are best placed to exploit the situation when it turns in our favour.

Keep your money in the bank and wait it out, or invest in Gold, which may prove a safer bet, given the fragile state of the . Things are so bad now that whatever happens will happen in such a big way, we could actually see houses going for a fraction of their current "market value".


Wednesday, October 18, 2006 02:43PM Report Comment

3. Boarder said...

george monsoon

A verbal spoonerism of "Buy To Let" is "Lie to Bet". An apt description of the current mortgage situation.

Wednesday, October 18, 2006 04:52PM Report Comment

4. the bald man said...

Are those who bought before the boom so lucky? There are many of those who have mewd to the maximum (encouraged by the banks) believing the good times will always be here.

Wednesday, October 18, 2006 04:57PM Report Comment

5. rocket robbie said...

George.. when you say invest in gold do you mean go out and buy a kilo bar or put it in a managed fund? i keep hearing gold is a great investment but not sure how to invest, please help.

Wednesday, October 18, 2006 05:46PM Report Comment

6. uncle chris said...

Now investing in gold confuses me. Surely if you need to buy anything in the future you need money, and if there isn't much of it around after the 2010 world (well US and UK) economy collapse, who is going to buy your gold. Perhaps I'm looking at things far too simplistically, but isn't there a danger that sitting there with a lump of gold is all well and good, but will it really buy you food in an economy collapse. In essence, would it be safer than securing your money in National Savings.

Wednesday, October 18, 2006 06:49PM Report Comment

7. geed said...

Yeh - I'm a little confused with Gold also. I read on the blog before why Gold is the investment to have in a recession, but if someone out there can spell out the benefits on laymans terms again i would be much obliged.

Thursday, October 19, 2006 05:36AM Report Comment

8. The Capitalist said...

Gold is the only asset with intrinsic worth, that's why until recently (the US Fed cut loose from gold in 1972) national banks held a reserve of gold to underwrite their currency. In fact Russia has been buying shed loads of gold bolster their currency? Certainly.

We now have 'faith-based' fiat currencies. In times of uncertainty these come under pressure and lose value (inflation being the chief cause). Gold will always have a value and tends to be a safe haven when confidence in economies and (therefore paper money) falters.

Buy Exchange Traded Funds (ETFs) on the LSE - they're highly liquid forms of bonds which saves you the bother of actaully holding physical gold.

Interesting fact: Gold sovereigns are legal tender and can be bought easily. A sov is worth about 260 at the moment.

Warning: Gold is a long term investment, I remain a complete bull on Gold but there will ups and some downs along the way. Not for the faint hearted.


Thursday, October 19, 2006 09:42AM Report Comment

9. Time To Raise Petrol Prices said...

Yes, gold is the investment to have in a recession, but it would help if the price wasn't already so massively bloated!

You can buy krugerrands or bullion if you like, but the real rate of return on such an investment is quite poor in normal times. It's a safe haven in times of trouble but not much else.

Thursday, October 19, 2006 10:29AM Report Comment

10. rocket robbie said...

I asked my financial advisor about investing in gold and he told me not to touch it full stop. In his opinion, it is a very high risk fund. Probably nearly as risky as investing in property i thought to my self. So i was curious to know why people say gold is a safe place to put your money to beat inflation.

Thursday, October 19, 2006 05:03PM Report Comment

11. iguana said...

In my 'umble opinion (as already stated on this site) gold does not seem to be a safe bet at present. It would have been good in 1999-2001 when the price was at an historical low, I cannot see that it is a good buy now when it has reached an historical high.
In short, looks like a bubble.

Thursday, October 19, 2006 07:58PM Report Comment

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