'We're Just Running To Stand Still':
http://news.sky.com/skynews/article/...287344,00.html
"[USwitch] personal finance expert, Mike Naylor, said: "Our pay cheques may be getting fatter, but the chunk that we have to hand over to pay taxes, bills and other living costs is growing even faster.
"We are working harder, but we are not getting any wealthier - we are just running to stand still."
"231% average increase in house prices and a 44% average increase in rent costs over the past decade."
The last bit blows the myth of 'restricted supply' causing the house price bubble out of the water. We've actually had an era of inflation offset by importing deflation from China. This is Gordon's miracle economy.
Codicil: Apart from being back to 1997 levels of disposable income we additionally have the benefits of: (1) Massive private debt (2) A Labour government and (3) Vast differences in wealth
http://news.sky.com/skynews/article/...287344,00.html
"[USwitch] personal finance expert, Mike Naylor, said: "Our pay cheques may be getting fatter, but the chunk that we have to hand over to pay taxes, bills and other living costs is growing even faster.
"We are working harder, but we are not getting any wealthier - we are just running to stand still."
"231% average increase in house prices and a 44% average increase in rent costs over the past decade."
The last bit blows the myth of 'restricted supply' causing the house price bubble out of the water. We've actually had an era of inflation offset by importing deflation from China. This is Gordon's miracle economy.
Codicil: Apart from being back to 1997 levels of disposable income we additionally have the benefits of: (1) Massive private debt (2) A Labour government and (3) Vast differences in wealth
Comment