Friday, August 22, 2008

Still debt junkies … and it’s getting worse not better

Personal Debt exceeds Britain's GDP (again)

Stephen Gifford, Grant Thornton's chief economist, said: "[..]there is no cause for panic as personal debt is well covered by the UK housing stock'. Great, so nothing to worry about there then.

Posted by montesquieu @ 03:23 AM (981 views)
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7 thoughts on “Still debt junkies … and it’s getting worse not better

  • So dont worry, we can all sell our houses at once to mystery buyers and pay back our personal debt and go and live in the woods.

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  • it_is_going_with_a_bang says:

    Covered by the housing stock? Now don’t people need somewhere to live?

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  • so if the value of houses continues to go down much more, technically we are insolvent?

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  • Unbelievably skewed thinking.

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  • So have we got a 110% mortgage on the UK or not yet?

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  • I can remember the hooharr when we broke the 1 trllion barrier not so long ago now, lets just slap another 44% on that.

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