At some point in the near future, its impossible for this country to continue.
If you look at house prices, my mums flat when she put it up for sale 9 years ago was struggling to get 72 grand. Now she put her house back on the market and its asking price is 140 grand. Almost double.
In that time, the money that people get for working has not went up by the same amounts.
So for an average standard 3 bed flat its 140k notes, so say in 10 years at this rate, the same flat may cost 280k notes.
Its a run away train because these days most parents both work. How can it be possible for a kid out of school to get a house in 20 years time, the minumum wage is 10.96 and the average flat is going for over 3 quarters of a million pounds?
The UK has over 1 trillion pounds of consumer debt. it will NEVER be paid, just continue to rise.
Is the economy going to collapse or does a change NEED to be made? It cannot continue to rise like this.
2007-01-01
01:00:41
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9 answers
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asked by
clarky
2
in
Economics