Quote: cod'ead "People paid for "stuff" from money they had saved or sometimes through HP. The only real debt a household may have was a mortgage for those who decided to buy rather than rent. But at that time rents accounted for only around 20% of household income, so really were affordable.'"
lets have some actual figures, what was the rent compared to the mortgage?
in 1996ish i was paying around £220 per month on a mortgage with interest rates at 7% which was around 25% of my income. but i didn't get 33%-50% discount on the purchase.
so, you're a wage slave if you have a mortgage to pay but not a wage slave if you have rent to pay.
