Wednesday, Dec 23, 2009

But interest payments down 30.6%(my savings paying their mortgage)

Mail online: Families hit by the worst wages crash in 50 years

Families have suffered the biggest crash in wages on record, official figures showed yesterday.
They slumped by 1.3 per cent during the July-September quarter compared with the same period of 2008.
The Office for National Statistics said this was the biggest annual slump since it began collecting wages data in 1955

Posted by waitingtobuy @ 06:58 PM (1351 views)
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5 Comments

1. a saver said...

Couldn't agree more with the headline-makes me mad!
Doesn't make sense to bang on about people losing 1.3% in wages if they pay 30% less mortgage.
Although of course some have lost their jobs altogether.

Wednesday, December 23, 2009 08:32PM Report Comment
 

2. p. doff said...

Cue HMG working on some spin to justify linking pensions to falling wages instead of future inflation. Mind you, some of the anti-boomers on this site would probably relish the thought.

Wednesday, December 23, 2009 11:45PM Report Comment
 

3. devo said...

your pension is fecked p.doff

Thursday, December 24, 2009 01:29AM Report Comment
 

4. inbreda said...

I'm still not sure I understand what the government is trying to do. I always thought that it was old people that take the time to vote, and I would have expected this group to have less mortgage and more savings. Sure, the government has propped up property speculators and tried to keep house prices high, but surely it is alienating all of hte people most likely to vote. I think the polls will be very bias in favour of labour. On the day, the people who actually bother to turn up will not be likely to vote for them.

Thursday, December 24, 2009 09:37AM Report Comment
 

5. estrader said...

@4 It is an interesting scenario and from the comments I've read from older people at the bottom of online articles you are absolutely right. Older people, who make up the majority of voters who actually turn up to vote are living off savings and want interest rates to go up. They (apparently) outnumber mortgage holders by a large number. The impression I get from the many comments I have read is whichever party promises to RAISE interest rates will win the election.

Thursday, December 24, 2009 04:27PM Report Comment
 

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