Tuesday, March 15, 2011

Difficult times ahead

Financial squeeze set to hit families, CCCS says

A few quotes from the article; Homeowners are facing higher unsecured debts than those who rent a home, the charity's annual snapshot found. On average, a client who owned their own home had debts of more than £30,000 in addition to their mortgage. A 2% rise in interest rates would increase monthly mortgage payments by £307, the charity found.

Posted by katalan1 @ 02:39 PM (1448 views)
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4 thoughts on “Difficult times ahead

  • sibley's b'stard child says:

    ‘The CCCS found that the typical person who came to the charity for debt advice was aged 42, and those who owed the most were aged between 50 and 59.’

    That’ll be those boomers, again, spunking their credit on the latest smartphones, eh Mr G?

    On average, a client who owned their own home had debts of more than £30,000 in addition to their mortgage.

    Now, that’s fascinating, interesting psychology there. I can only presume a homeowner (or those that rent from the bank) are more prepared to borrow to feather their nests? I’ll accept a HPC whip-round to get a case-study knocked-out if you like…

    I really don’t get it though. I may have a rather spartan life, and pay half of my wage to a scum-lord but at least I have no debt. I would have no desire in borrowing to spend. That’s probably why i’m here and not MSE, no doubt.

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  • And the 42 year olds will be pis*ing it all against the wall as the boomer generation did at that age SBC.

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  • @SBC

    I’ve come to the conclusion that boomer critics are “planted” by the bwankers in order to draw attention away from the way the banks have and continue to, shaft everyone else, when in fact all generations should be united in fighting the thieving barstewards.

    A classic example of divide and rule.

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  • mark wadsworth says:

    Mr G, Home-Owner-Ism is all about divide and rule, TPTB convince the baby boomers that we will all starve to death if a single acre of land is used for new housing, thus denying today’s young people the opportunities to buy an affordable house that the baby boomers had when new construction was in full swing etc. And similarly, if we shifted taxes from incomes to land values that miraculously we’d all end up homeless or something.

    As to the headline, I love the way that tenants aren’t classifed as “families”.

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