Quote Originally Posted by 0james0 View Post
I see people's incomes daily and EVERYONE has at least one form of debt (not including mortgage).

Imagine if this country returned to the days of the late 80's where interest rates rose to 16%. All of those credit cards and loans and of course the mortgages would break everyone.
Most of the credit cards etc are already on rates of way above 16%, it's just the balance transfer 0% deals and other discounts that are making them seem artificially low to some.

A one bedroom flat in my area is six times my annual income. I'll need to be promoted another two levels before I will be in a position to even get a mortgage on the most basic and downtrodden apartment in the area, and that's if I can scrape together nearly double my annual wages for a big fat deposit.

I think I'm renting for life.