Thursday 27 February 2014

Back to the future

From the BBC:

The weekly earnings of full-time workers in the UK fell, in real terms, each year between 2008 and 2013, official figures show.

The Office for National Statistics (ONS) says in cash terms earnings grew, by only 2% a year, from 2009 to 2013. But after taking inflation into account the purchasing power of those earnings suffered an overall fall of 8%.

This means that the real value of the UK's average weekly earnings are now back to the level of 2002.

From the BBC:

The Department for Communities and Local Government (DCLG), which publishes the [English Housing Survey] each year, said:

"The proportion of all households in owner occupation increased steadily from the 1980s to 2003 when it reached a peak of 71%. Since then, there has been a gradual decline in owner occupation to the current 65%."

It pointed out that private renting in England had been steady at about 10% of all households during the 1980s and 1990s, but had since grown sharply, nearly doubling in size.

From the BBC:

The number of tenants in England and Wales forcibly evicted from their homes last year after court action reached a record high.

Some 37,739 private and public sector tenants had their homes repossessed by court bailiffs in 2013, according to figures from the Ministry of Justice. That is the highest number since records began in the year 2000.


However, the number of homes being repossessed by mortgage lenders at the end of 2013 was the lowest in a decade.

In cases that involved court action, 12,147 people had to hand back the keys to their home between October and December last year. The Ministry of Justice put that down to low interest rates and a "proactive approach from lenders in managing consumers in financial difficulty".

1 comment:

  1. Quite right. Excellent useful stats thank you.

    Property is the only thing that rises in value. Always - in all times and all places. Are we making ourselves clear?

    During recession, which ended beginning 2012 - real property value rises EVEN more than in boom periods despite 'nominal property prices' falling. Because wages, salaries and profits fall EVEN more than property during recessions.

    Recessions are when the biggest wealth transfers take place, and when property owners make the most gains. This is counter intuitive but perfectly true. It is forbidden knowledge no one is allowed to talk about. Especially foolish market traders in commodities and stocks.

    So investment in anything other than property is for fools. Property always rises in value compared to everything else. So why trade anything else?