The rising cost of living

[Xela]

45 minutes ago, Genie said:

It’s a way around the high prices, spread it over longer to get the monthly payment down.

£250k @2% over 25 years, £1060 a month. Total cost £318k.

£250k @2% over 40 years, £757 a month, but total cost £363k.

 

People just want to get a foot on the ladder and will take 40 years if that means the difference between a mortgage and no mortgage. Especially if they are buying on their own.  

Most people would bank on themselves earning more and reducing that term in due course. 

[Craigyh74]

13 hours ago, Xela said:

Have you spoken to any specialist mortgage brokers mate? 

Tried West Brom who are meant to do special products for Mortgage Prisoners but computer said no. In a better frame of mind as the wife has just reminded me that there is nothing that can't be fixed.....well apart from murder

[tonyh29]

14 hours ago, snowychap said:

Upper end of the fan has CPI at 12%+ by October - when the next expected price cap increase comes in for gas & electric. Not sure about the subsequent quick fall to 9% by March 2023.

Blimey, I remember starting a thread on here a fair few years ago with the title 'CPI 5% by Christmas?' (Thread mainly populated by @Gringo(late), @tonyh29, @bickster, @blandyand a few other fellow saddos/geeks ).

The worry of those times looks very tame.

I doubt I understood CPI any better all those years ago  tbh !! 

sounds like the next increase for gas / electric will be from 1st October ? 

Ofgem announced the cap levels for the period from 1 April to 30 September 2022 on 3 February. They said that “Those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 per year (difference due to rounding). Prepayment customers will see an increase of £708 from £1,309 to £2,017. The increase is driven by a record rise in global gas prices over the last six months, with wholesale prices quadrupling in the last year”. This latest change does not affect the consumer price indices for March. Its impact will be included in the April figures scheduled for release on 18 May 2022.

 

the quick fall by March 2023 maybe suggests they think fracking will be given the go ahead  later in the year ?  there were a  couple of wells were due to be filled with concrete and they were given a stay of execution to allow further studies , allegedly the technique has been refined since they explored it before  ..either that or they think Ukraine will have taken control of Russia by then and we are first in line for cheap gas !! 

[Genie]

On the news last night prediction was that the energy cap would be going up another 40% in October. Absolutely brutal right when people start putting the heating on, and lighting needed most of the day.

 

[lapal_fan]

11 minutes ago, Genie said:

On the news last night prediction was that the energy cap would be going up another 40% in October. Absolutely brutal right when people start putting the heating on, and lighting needed most of the day.

 

A lot of people will die if they aren't helped out. 

[Genie]

Just now, lapal_fan said:

A lot of people will die if they aren't helped out. 

And the answer is staring them in the face.

1) Tax some of the billions of profit and give it to people who need it.

2) Suspend or cancel VAT on home energy.

It’s ridiculous just how obvious some solutions are, but instead they’ll lie about nothing they can do.

[lapal_fan]

1 minute ago, Genie said:

And the answer is staring them in the face.

1) Tax some of the billions of profit and give it to people who need it.

2) Suspend or cancel VAT on home energy.

It’s ridiculous just how obvious some solutions are, but instead they’ll lie about nothing they can do.

It's more so because they're incompetent's and don't know what they're doing. 

[Genie]

Just now, lapal_fan said:

It's more so because they're incompetent's and don't know what they're doing. 

It’s worse than that, they’ve even been supplied with the answers to the current test and still lie that the answer sheet is wrong.

[The Fun Factory]

15 hours ago, Mandy Lifeboats said:

Turkish inflation is now 70% with interest rates at 14%.  

I suppose that's COVID and Russia/Ukraine devastating their tourist industry?????

It's because Erdogan does not want to raise interest rates as he wants Turkey to remain strong in exports. However it is ruining the populations quality of life as the cost of living has apparently increased by 70% in the last year according to  a bbc article I read the other day.  They will still probably re-elect him.

[Genie]

There’s a couple of options for these unexpected billions.

1) The government divert some of it to people who desperately need help

or

2) The government allow it to be distributed to shareholders of these companies who will be getting a huge dividend. 

One option helps them, their families and the generally wealthier parts of the population who are better placed to survive the cost of living crisis already. One helps the poor who are in deep trouble. 

[blandy]

16 hours ago, snowychap said:

Upper end of the fan has CPI at 12%+ by October - when the next expected price cap increase comes in for gas & electric. Not sure about the subsequent quick fall to 9% by March 2023.

Blimey, I remember starting a thread on here a fair few years ago with the title 'CPI 5% by Christmas?' (Thread mainly populated by @Gringo(late), @tonyh29, @bickster, @blandyand a few other fellow saddos/geeks ).

The worry of those times looks very tame.

Found it.

(I didn't post in it at all!, therefore am not a saddo after all)

[Xann]

1 hour ago, lapal_fan said:

A lot of people will die if they aren't helped out. 

Think about the market for a minute, will you?

Unfettered capitalism rules.

[chrisp65]

4 hours ago, lapal_fan said:

A lot of people will die if they aren't helped out. 

 

2 hours ago, Xann said:

Think about the market for a minute, will you?

Unfettered capitalism rules.

 

Only the weak will die.

 

[Xann]

1 hour ago, chrisp65 said:

Only the weak will die.

Tory Brexit Eugenic Britain FTW.

[sidcow]

So The Economy shrank in March. It's expected to shrink further, if that happens next quarter it's official recession

A. Johnson actually repeated his ludicrous "fastest growing economy in Europe" claim only this week. When is he going to be called out on this? 

B. The economy is shrinking because people are spending less. How does this then feed in the the interest rate increase? I said the other day prices are increasing primarily due to The Ukraine War and energy prices, not because of out of control spending so I really don't understand how the traditional method of increasing rates is going to help control Inflation. People are already reigning in regardless. 

Edited May 12, 2022 by sidcow

[StefanAVFC]

It's madness over here.

Inflation is at 11%. I have literally no idea how people earning average salary (around 900 quid a month) are surviving.

[Genie]

Its fair to say the cost of living hasn’t really bitten yet, people using savings and things to get by. In a few months time its going to be really bad, especially as we head into winter.

[Mandy Lifeboats]

A post from and old git……………

I have used Pizza Delivery companies and ordered Indian food to be delivered.  But I really don’t understand why the food delivery companies are seemingly growing so fast? Surely they should be one of the first costs that people will cut?   

If your Tesco shop is increasing by £10 per week,  isn’t it logical to fetch it yourself?  Surely the huge surge in food delivery caused by COVID must start to decline?  

In my day I would walk 500 miles to the local supermarket to get a pint of dog’s milk. Then I would walk 500 more.  
 

 

 

 

[sidcow]

1 hour ago, Mandy Lifeboats said:

A post from and old git……………

I have used Pizza Delivery companies and ordered Indian food to be delivered.  But I really don’t understand why the food delivery companies are seemingly growing so fast? Surely they should be one of the first costs that people will cut?   

If your Tesco shop is increasing by £10 per week,  isn’t it logical to fetch it yourself?  Surely the huge surge in food delivery caused by COVID must start to decline?  

In my day I would walk 500 miles to the local supermarket to get a pint of dog’s milk. Then I would walk 500 more.  
 

 

 

 

A thing you commonly see is people claiming thet eat fast/processed food because real food is too expensive. 

Surely nothing is cheaper than fresh vedge? OK meat can be expensive but that can be eked out. 

Even cooking costs surely wouldn't swing it to more expensive? 

[StefanAVFC]

24 minutes ago, sidcow said:

A thing you commonly see is people claiming thet eat fast/processed food because real food is too expensive. 

Surely nothing is cheaper than fresh vedge? OK meat can be expensive but that can be eked out. 

Even cooking costs surely wouldn't swing it to more expensive? 

It’s portioning and wastage more often than not. People who don’t usually cook often don’t have any idea. Processed/ready stuff is no waste, no portioning. 
 

Give an inexperienced cook a bag of carrots and half would rot.