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C-19.. Catalyst or trigger for the inevitable economy and property market crash?


haroldshand
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sancho panza

 

7 hours ago, Frank Hovis said:

Food is cheaper now in the UK than it has ever been; it's ridiculously cheap when bought from supermarkets.

Even if it doubles in price it will still be less as a proportion of the weekly budget than it was in the fifties.

Forget food riots being the trigger to a HPC.

Absolutely.However,I suepct when food prices rise here they will do so rapidly.A 1% drop in sterling plus a rise in oil price would ahmmer a lot of people who are living up to the max.

Record levels of mortgage and non mortgage debt etc etc

4 hours ago, haroldshand said:

If people are finding food expensive then there is something seriously wrong with their financial control, housing for example and debt repayment

As above,H,I'll carry on here.People at my wortk are leaving uni with £50k in debt.By the time they'll start paying any off at age 30,that debt will be 80k/90k as it's compounding at RPI +3% aka 7%.Then over the following 25 years they'll pay back £100k++ and still not touch the lump sum.

On leaving Uni,they're getting £300pcm lease cars and 35 year mortgages.
it's been that long since we've had a recession people have forgotten what they are and aren't ready

1 hour ago, haroldshand said:

https://www.telegraph.co.uk/business/2020/06/19/markets-live-latest-coronavirus-news-pound-euro-ftse-100/

 

This is the reality of what is coming, to depressed people who constantly keep saying "well the government will just blah blah blah and look after top 1%".  Well the  hands of the Tories are slowly being tied behind their backs, a lousy present Labour party are nearly neck and neck in the polls with the Tories right now and the economy when it resumes is going to lay off jobs like this country has never seen before in living memory.

It's no longer a case where they just skim off the poor, more poor will soon by added to the jobless pool and there is only a s*** economy to pay for the added jobless in a welfare system that will need topping up with even more £Billions.

It is as good as impossible to direct money at a property bubble when so many people are struggling to pay basic bills

A lot of people with hosues worht £500k plus have been looked after too.Pensioners on triple lock.The top 30-40% have done very nicely and a fair chunk of the indebted too.

AS discussed in the deflation threrad ,once inflation runs,the pritning will stop and we'll realise how screwed we are.,

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Frank Hovis
28 minutes ago, sancho panza said:

Absolutely.However,I suepct when food prices rise here they will do so rapidly.A 1% drop in sterling plus a rise in oil price would ahmmer a lot of people who are living up to the max.

Record levels of mortgage and non mortgage debt etc etc

If it does rise massively who however will it hit?

Not the benefits classes, including those on state pensions, who would receive matching rises.

But the the "just about managing" and the overstretched low wages with the PCP car.

Essentially: the workers, the tax payers. Boxer the horse.

These people won't riot; they will keep quietly working themselves into an impecunious and short old age.

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haroldshand
2 hours ago, Frank Hovis said:

If it does rise massively who however will it hit?

Not the benefits classes, including those on state pensions, who would receive matching rises.

But the the "just about managing" and the overstretched low wages with the PCP car.

Essentially: the workers, the tax payers. Boxer the horse.

These people won't riot; they will keep quietly working themselves into an impecunious and short old age.

It's quite often rightly said that the bottom of the food chain always get hit the hardest, well the size of the bottom of the food chain has risen rapidly where people suffering  maybe even as high as 60% with it possibly risen even higher in the near future, it's not easy to pander to the top 1% when most of the population cannot pay the bills

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