hello steemians
disclaimer ---- these are all my opinions and views based on who i am and what i do --------
so April 2017, 9 years after the great recession aka the credit crunch. Well the UK has not changed much since then. Initially credit dried up as the banks stopped lending money on mortgages and credit cards so people felt the pinch for the first few years
then came bailouts and Quantative Easing (printing money)
so immediately the big fish who got access to all this newly printed money started buying up all the assets in the country again at a discounted price from the misfortune of those who were going bankrupt (foreclosures)
when i say assets being bought up i mean everything from property, stocks, classic cars, classic arts etc. Now the property price - official figures are showing rises of 5-6% outside of London. I dont know about anyone else but i have started to get plenty of mail forcing me to get a credit card and letters telling me i can now get a mortgage...... So this means that all that new money printed in 2008 - 2014 is finally making its way down to the masses.
In my view this is good for the ordinary joe however i think within 5-7 years the bubble will pop again as eventually this credit bubble will fall into the hands of people whom cannot afford to pay it back or more importantly they have no one to sell the credit on to as they are at the bottom of the food chain
Average property price in the north west out side of the city centres
victorian 2 bed terraced house £70,000 (you can get one in Darwen for £50,000)
3 bed semi £140,000
average earnings for a couple with 2 children and good jobs is approx £2000- £3000 per month after tax combined! by the time they have paid their bills, credit cards and debts they are left with zero!
I personally know couples who are doctors, pharmacists, teachers who earn £5000 per month combined and they are left with zero by the end of the month
clearly for the millennials getting on the housing ladder is getting harder and harder. Its quite depressing to be honest however millenials seem to be very happy snapchatting away..... as long as they get paid on friday and they can party on saturday they are happy! work hard play hard keep partying like its you're job!
While the corporates are eating up all the wealth, effectively enslaving the masses in debt for future generations to come. Until the millenials wake up and illuminate themselves and understand whats going on they have no chance but to be slaves monday - friday, saturday party and sunday recover and get ready to be a slave on monday again
the future of the UK is bright for those who are enlightened and understand how to climb the pyramid, however for those who stay at the bottom feeding on debt its very very grim. the sad thing is the debt feeders at the bottom are required for the System to work other wise there is no-one to roll all the crap down to
my comments may seem harsh but they are true and i try to educate the 18-19 year olds however they laugh and snap a picture of me with funny ears on and post it online ......
to be continued