Wednesday, Nov 11, 2009

Eat enough chips, get a free car!!!!!!

Yahoo news/PA: Youth unemployment hits record high (yes even higher than under the big bad Thatch)

The inactivity rate is now over 21% of the working age population and the total is the highest since records began in 1971. So who's buying all the houses then?

Posted by montesquieu @ 10:21 AM (707 views)
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5 Comments

1. jack c said...

@montesquieu - "So who's buying all the houses then?" - no one is buying ALL of the houses - the transaction volumes have been very low of late and consequently you only need a few Castles and multi Million pound plus properties changing hands to send the figures positive

Wednesday, November 11, 2009 10:31AM Report Comment
 

2. Ndg said...

Test cricket for house-price-watchers. Yawn.

Wednesday, November 11, 2009 10:46AM Report Comment
 

3. drewster said...

Youth unemployment is high. Most youths don't buy houses (average FTB age is around the 30 mark). Any effect will be lagging.

The youths of today (18-24) will be at prime FTB age in 2015-2021. They'll still be saddled with student loan debt which they haven't been working to repay. Unlike the mid-1990s house price bounce, we won't see any bounce in 2015-2021.

Wednesday, November 11, 2009 02:08PM Report Comment
 

4. need-a-crash said...

Just think according to our "experts" that's Smugdog and all the other VI's, these people will soon be borrowing 10x their £30k salary to buy a one-bed flat for £300k!!

Wednesday, November 11, 2009 02:26PM Report Comment
 

5. Jayk said...

Fact of the day: No Labour government has ever left office with unemployment lower than when it came into office. "The party of the working man" always sends him to the dole office.

PS Grow up with this "VI" crap. You, 'need-a-crash', are a VI. You have a vested interest in a crash and therefore a bias in talking down house prices and arbitrarily selecting the data that fits what you want. You are no better than those who have a vested interest in house price rises. And if you want to talk about "experts", what about the large number of HPCers who in late 2007 insisted that 2008 would end with oil at $250 a barrel and house prices 50% down on their peak? How did those "expert" predictions go?

Thursday, November 12, 2009 03:04AM Report Comment
 

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