Thursday, July 11, 2013

Zombie households to be on lifesupport until kingdom come

A modest rise in interest rates could cause a million households to 'collapse'

New analysis shows alarming numbers of debt-laden households vulnerable to minor rate rises - even in a positive scenario of rising incomes Those not in debt can just take it on the chin, having to endure miserable savings rates and soaring rents...

Posted by mombers @ 01:25 PM (2334 views)
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4 thoughts on “Zombie households to be on lifesupport until kingdom come

  • “A modest rise in interest rates could cause a million households to ‘collapse'”

    Structural issues? Should have got a survey 🙂

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  • mark wadsworth says:

    “The number of households spending more than half their income servicing debts – which stood at 870,000 before the crisis in 2007 – could exceed one million in coming years if the Bank Rate climbs just 2.4 percentage points to 2.9pc, new research has warned.”

    In other words it would be barely higher than six years ago, well big bl00dy deal, is all I can say. Do people not realise that when you borrow money you have to pay it back with interest at the whim of the lender?

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  • Yet another scaremongering article from the Torygraph. I wonder why? I must have seen this at least 3 times in the last 4 weeks!

    Ambrose was at it on their website with the immediate collapse of southern Europe. Not bad, but he writes this every 8 or 9 days.

    I think I’ll try the Express….OOoops, Front Page says House Prices rising by £2000. Isn’t that the same topic they covered last week?

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  • stillthinking says:

    Interest rates will only rise when every single possibility to prevent them from rising is exhausted. If you believe that interest rates in the UK should be going up then you believe in more QE and sterling going down.

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