> Indeed, if someone spends everything they earn, they can neither invest nor save up a downpayment to buy a property.
This is, at a first approximation, everyone in the UK right now who does not already have a mortgage. A majority of people in the UK are spending more than they earn at the moment (for at least some months this year). And almost no mortgage holders are saving in anything other than employer pensions.
Just shy of 10% of UK mortgage holders will even have missed a mortgage payment at least once this year.
This is, at a first approximation, everyone in the UK right now who does not already have a mortgage. A majority of people in the UK are spending more than they earn at the moment (for at least some months this year). And almost no mortgage holders are saving in anything other than employer pensions.
Just shy of 10% of UK mortgage holders will even have missed a mortgage payment at least once this year.
4% above inflation? Put it in this context.