This deficit situation is obviously quite complex.
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jenray
- http://www.jenniferhunter.co.uk
- 2011-01-30 @ 20:33:49
I think we've a very long way to go before we're out of the woods...depressing isn't it when you see the bankers swanning about with their wealth in tact and their bonuses expanding...deep sighs....
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oldjimbob
- 2011-01-30 @ 21:32:49
I've replied in the 'general' comments jen.
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oldjimbob
- 2011-01-30 @ 21:31:11
D'you think the present approach to the problem will make it better or worsen the situation, jen? Some commentators (Nicola Horlick is one) think the government's plan won't help.
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jenray
- http://www.jenniferhunter.co.uk
- 2011-01-30 @ 22:15:27
Heard an interesting prog today on the Housing Market...mortgage lending has dropped by 67% for those wanting to buy houses prices between £60,000 and £125,000 and by 50% by those around a quarter of a million, but only 5% for those properties over £500,000...even a doctor with a £25,000 deposit wanting to buy a house for £210,000 couldn't get a mortgage she could afford...the banks were going to charge her so much interest she would have little money left to live on each month!...one couple trying to sell their house for £139,000 have dropped it down to £134,000, and had one viewer in six months even though it's in excellent condition after they spent £20,000 when they bought it bring it up to an excellent standard...they bought it for £120,000 so they're already in negative equity if you include their expenditure on it...This will have an effect of forcing people to either save their money madly for ever more larger deposits or give up trying to own their own houses ever, but that will give landlords greater power to increase rents so caught in a catch 22...if jobs are going to go as well how does this government expect the economy to pick up? It can only sink it ever greater recession if people find the cost of living rising, their jobs at risk, they're homes are at risk as well if they lose their jobs, so no, I don't think the situation is going to improve...this year and probably next one as well is going to be very hard indeed for many people...
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oldjimbob
- 2011-01-31 @ 09:10:53
You're right jen. The thing is, the Coalition seems set on sticking with its current plan regardless of any warning indicators. Let's see where we are by March. As Harold Wilson once said, 'a week is a long time in politics'.
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jenray
- http://www.jenniferhunter.co.uk
- 2011-01-31 @ 09:41:39
up the Swanny probably...
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