Thursday, Nov 02, 2006

Insolvencies expected to rise in official figures released tomorrow

BBC News: Insolvencies set for record rise

Official government figures to be published on Friday are expected to show a record number of people in England and Wales going insolvent. PriceWaterhouseCoopers (PWC) forecast that about 27,000 people will have gone insolvent between July and September.

Posted by webmaster @ 03:51 PM (368 views)
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6 Comments

1. kpjcomp said...

Strange!!!

>> Mr Boyden added that the problem of indebtedness seemed to be easing of late.

Based on??, have I missed something, not seen any news recently about people spending less. In fact totally the oposite.
I think I need to go back to school, because 2+2, no longer equals 4, but 3.. Maybe PWC maths work in the same way the CPI does.

Thursday, November 2, 2006 04:25PM Report Comment
 

2. george monsoon said...

Its an odd situation we are in. The people that I know who were Lucky enough to buy before the surge ("Lucky" being the correct term) seem to have no concept of the notion that prices can fall. Some of my closest friends are sitting on a house that is "valued" at three times its sale value, when they originally bought. Because of this they are preaching to anyone wishing to climb the ladder that "you can't go wrong with bricks and mortar". People by nature will not question something that works for them as long as it is working for them. We on the other hand who are in no position to buy due to the hike in property prices have a vested interest in finding out why its not working for us and what we can do about it, so to that end, we are better informed of the facts.

You cannot blame NoHPC for his opinion, because he is lucky enough not to be in our situation. He is happy with his lot. Coming on here telling us that he is right and we are wrong does come across as a little bit purile, but even if he is not aware of it, he will be learning a little bit about the true situation that the country is in, where the majority of "im alright Jack's" out there are oblivious.

Someone coined a great name for the unlearned masses - Sheeple LOL....

anyone have any other views on this?

Thursday, November 2, 2006 04:28PM Report Comment
 

3. george monsoon said...

Sorry wrong blog* Doh!

Thursday, November 2, 2006 04:29PM Report Comment
 

4. Nohpc said...

I don't think a hpc is impossible otherwise I wouldn't be here george. I come on this site because it is an excellent resource of property and financial news which I am interested in. And I won't be crying if there is a hpc or cheering if there is a hpc boom i accept that either can happen.

With regards to inflation really picking up in 2010 as China stops producing cheap goods. I'm not so sure this makes complete sense. People only buy goods from china because they are cheap. If china wants people to keep on buying its goods it will need to undercut america etc. If they don't I'm sure there will be a china 2 . I do not know which country this would be but there are plenty of poor countries out there who will boom at some point in the future.

Thursday, November 2, 2006 09:11PM Report Comment
 

5. waitingfor hpc said...

i buy products from China 20% up this year, timber +40%, corrugated +35%, steel +50%, copper +65%, ..... need i go on . Guys inflation IS HERE ALREADY in a big way.

We as a business are struggling to pass on price rises but we are and we have to. Timber is in short supply, there is a world shortage due to China.

Friday, November 3, 2006 08:31AM Report Comment
 

6. waitingfor hpc said...

my suppliers in China say ' take it or leave ' with price rises as their domestic market is growing so fast they can sell goods for more in China than in the West. !!!

Friday, November 3, 2006 08:33AM Report Comment
 

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