Cost of living squeeze in 2022
Discussion
nickfrog said:
Throttlebody said:
The Govt is now deleveraging after years of debt fuelled growth and consumerism.
The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
I guess those who still live with their parents don't have much to lose in the short term, illusory or not, although their inheritance, if any, will be affected. But given that your predictions are systematically wrong, things might not actually be that bad. The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
Plenty are doing really well out of this, others will struggle to different degrees. It's mutli faceted. Perspective.
Terminal bitterness clouds judgment.
emicen said:
Totally off topic but I don’t really understand all the ire for the DVLA. Last few times I’ve sold cars they were very prompt with document changes and the same for my last photocard renewal.
That's because they are totally automated processes.They've decided that the Slovakian police posting them my U.K. driving license means I wanted a Slovakian one, without contacting me.
I now have the cluterf
k of trying to sort this out when they can't find a record of me. After I finally managed to get through to them (as I couldn't get a code for a test drive and couldn't change the address either), I learnt the above and that they want me to send the license in (physical) but it's all I have and needed for hiring cars abroad etc. Not happening as my current classes would likely expire and I'm travelling most months. Thankfully my photo card still has 6 years left so may consider it in a few years time if the turn around times normalise (unlikely!). Not looking forward to the next time I'm pulled over and they come back with "no license held".number2 said:
bhstewie said:
hstewie said:Throttlebody said:
The Govt is now deleveraging after years of debt fuelled growth and consumerism.
The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
Tasteless gloating aside what does that even mean?The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
Everybody watching it slowly roll out but preferring not to acknowledge the implications. The price of Weetabix is much more comforting.
Throttlebody said:
number2 said:
bhstewie said:
hstewie said:Throttlebody said:
The Govt is now deleveraging after years of debt fuelled growth and consumerism.
The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
Tasteless gloating aside what does that even mean?The slow burn of reality is gathering pace after years of feeding on the illusion of feeling richer through cheap finance and asset acquisitions.
People that have nice properties, nice cars but own nothing. The illusion of wealth is slowly unwinding. The duration of this correction process hasn’t registered yet, many hope it’s going to be short lived. Wrong, gotta get with the new program.
Everybody watching it slowly roll out but preferring not to acknowledge the implications. The price of Weetabix is much more comforting.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.And you can't point to a single example where your assertions have come about.
Dunning-Kruger is strong in you.
Sway said:
tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.And you can't point to a single example where your assertions have come about.
Dunning-Kruger is strong in you.
tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.
survivalist said:
tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.Square Leg said:
survivalist said:
tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.Sure, some younger folk will at home for longer than they had wanted / planned.
Fundamental issue is a lack of homes in area where there are decent jobs and rocketing inflation rates that mean property investment is still a better option than a savings account.
survivalist said:
Square Leg said:
survivalist said:
tannhauser said:
survivalist said:
Define huge.
In reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
BullsIn reality this will hit those who have high levels debt and large mortgages. It’s not nearly as many people as some think, as at least a 3rd of UK homes are owned outright. Another 3rd can easily ride out increased interest rates. The vast majority of the remaining third will sit tight and ride our the pain.
Sadly the harder the crash, the more unobtainable property ownership will become for those without large amounts of capital. Banks will withdraw low deposit mortgages and favour investors (who are happy to pay higher interest rates because their tenants are paying the mortgage .
Those with significant capital to invest will do well if we enter recession, just as they have every other time.
The misguided think that a drop in property values will benefit the lower earners, in reality it widens the wealth gap and rewards those with capital.
te.Sure, some younger folk will at home for longer than they had wanted / planned.
Fundamental issue is a lack of homes in area where there are decent jobs and rocketing inflation rates that mean property investment is still a better option than a savings account.
survivalist said:
Plenty of options. Lower rents for those who have been invested for a while, government support for those who are unable to meet their commitments.
Sure, some younger folk will at home for longer than they had wanted / planned.
Fundamental issue is a lack of homes in area where there are decent jobs and rocketing inflation rates that mean property investment is still a better option than a savings account.
And where does the money from this government support come from? How is this ethical?Sure, some younger folk will at home for longer than they had wanted / planned.
Fundamental issue is a lack of homes in area where there are decent jobs and rocketing inflation rates that mean property investment is still a better option than a savings account.
And oh yeah, let's f
k over the younger generation even more. They won't mind.I really do hope all you rentier types lose your shirts.
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