never had it so good

[DrFilth]

are these people living on the same planet as me

http://news.sky.com/s...elegraph_On_Recession

[terambulan]

//....Most people with a mortgage who were paying a lot of money each month, suddenly started paying very little each month....//

How does that work ? My mortgage remains high while the property has devalued due the market slump.

[DrFilth]

i pay less now than i did 15 years ago , crazy

[B00]

So you're saying he's right then DrF with that last comment?

[jake-the-peg]

He has a point

This recession has benefitted some that still have a job and who have a mortgage.

However it's predicted these cuts will throw a million out of work and if you're retired living off of interest you're not benefitting from low interest rates.

Anyway on the radio just now he's reported as having written a letter of appology for the insensitivity of the comments.

Probably after a nice long lunch at the Ivy

[DrFilth]

yes for me, think how many people will be in the doggy muck if the interest rate goes up
as more and more jobs disappear abroad and the benefit line gets longer and longer

think vat goes up after xmas

people sat in cold damp unheated houses

and he says never had it so good :)

[youngmafbog]

If you listen to the tape he says that the majority of people with a mortgage have never had it so good.
This is true. Unpalitable but true.
It is also true the majority will not be greatly affected by this 'recession'. Again unpaliable politically but again true.

If you have an expenseve mortgage I suggest you change it. There are some very attractive deals arouns and for most with a mortgage
it is relatively easy to get a new one.

As for house prices dropping, this is a temporary dip, indeed in some areas it is already reversing.
Your house (that you live in) should not be treated as an investment.

[DrFilth]

is the ivy like the greasy spoon on ashton old road

[jake-the-peg]

//The house you live in should not be treated as an investment//

Probably the most ludicrous thing I've heard in ages.

For most people their house is the largest asset that they will ever have - and you're suggesting they shouldn't think of it as an investment!

Many many people in this country are normal famillies bringing up kids and will be planning to downsize their homes when their children leave.

Many like me make extra payments to pay off the mortgage sooner - those extra payments are investing in that asset.

Of course they could just get banks to invest their money - or they could set fire to it

[Booldawg]

low interest rates have always been good for a mortgage holder with no savings or investments.

House prices dropping? thats all relative. If you're hoping to move then yes, your house is worth less than it was 5 years ago but then again so has the one you're moving to.

[youngmafbog]

Sorry Jake for not spellin it out I meant to say short term investment as I was talking about temporary dip.

As for a million out of work, that is pure lefty wild speculation. You know very well that is not likely to happen in the dramatic way you put it since many loosing positions will find work in the private sector.

As for teh VAT hike meaning cold homes. Sorry that does not equate. Yet more scaremongering. The anmount of increas is minimal and is likely to be totally overshadowed by a hike in fuel prices.

[DrFilth]

youngmafbog some people are in cold damp houses now so when the fuel hike and vat goes up they will do what exactly

as for the people coming out of work they will find that there are no jobs in the private sector to go for.

[jake-the-peg]

No it is not "lefty speculation"

Unless you think PriceWaterhouse Coopers are a bunch of lefties

http://www.newstatesm...e-sector-jobs-500-pwc

Most in the South East and about half in the private sector

[youngmafbog]

Read it properly and read teh post I put up.

It says up to a million will loose their jobs but takes no account of how many will move into other work. Unless you are suggesting 1 million will sit idle and not bother. I doubt it very much somehow.

[DrFilth]

they will bother but the private sector are shedding jobs or should i say they are up here

[youngmafbog]

Dr what you are saying is true to a degree, but it does nto really relate to the thread wherby Young said those with mortgages have never had it so good. For the majorty (again which he said) it still remains true.

You can always find odd facts to argue against anything, but we a tlaking majorities here.

[DrFilth]

i am being honest i am one who has a cheap mortage but i have never ever had it so bad.

so i am not in the majority :)

[DrFilth]

when i think about this all the people i know are not in the majority either :)

[starone]

This man has obviously never been poor and does not know what it is like to struggle to pay a mortgage (or rent for that matter). Look at him for heaven's sake - born with a silver spoon in his mouth and never had to want for anything. I wish we did not have to hear such a load of rubbish from someone attached to the Government. Doesn't give me much confidence in them.

[youngmafbog]

Starbuck. It is not rubbish he stated the bleedin obvious. Unpalitable and politically a no nom but not rubbish,

//I wish we did not have to hear such a load of rubbish from someone attached to the Government. Doesn't give me much confidence in them.//

They (The Government ) gave him a bolloking so why dont you have confidence in them ?

Dr. most people I know and work with are not worse off. The saving on many mortgages is enormous. Of course for those unfortunate enough to be out of work there is a problem and they will not be worse off. But again that is not the majority.