Is this just the way it is now

[bijouxtt]

I'm just sat here thinking 🤔 is this it now or will there be an end will things even out in the long run ?

House prices have obviously increased a lot but rental prices seem ridiculous compared to just a couple of years ago.
Food has increased massively along with fuel. So it has a knock on effect that luxuries are more expensive too.

There are many people who are wiser than me that study economics and have been around a lot longer and been through hard times before.

So in your opinion will things get better will it be affordable for people on a normal wage to live comfortably again or is this it now will everything just keep going up ?

We've cut back on beauty, eating out, leisure and activities. I imagine plenty of others are in the same boat. Thankfully can put the heating on and manage food shops but it's a terrible standard of living just managing the basics. I have a fairly decent job but still receive a small
amount of universal credit. I hope things do eventually swing the other way but I just don't know how they will

I think that some price rises have been opportunistic and shops are seeing what the market will support.

It is possible we have seen big price rises now but that inflation will reduce. Over time incomes will catch up.

However there are likely to be lean times for a while.

I'm not an economist just I am old and have cycled round this paper round before. We will go through some time where it all feels a bit crap for a lot of people then it will feel a bit better.

It’ll take 10 years to see progress in this country again. We are seriously up shit street.

It's been shit in terms of salary growth & house prices vs salaries for years. Low interest rates just hid it.

Sadly I think this makes it clear what we should expect now:

https://amp.theguardian.com/business/2023/apr/25/britons-need-to-accept-theyre-poorer-says-bank-of-england-economist

I personally think it will be years before people feel they’re in a steady state again.

As for rental prices, the government changing the tax/expenses rules for landlords has meant that some of those still in the sector have had to increase the monthly rent (if a property is mortgaged, the lender will set a minimum rent that can be charged, depending on the owners circumstances, and interest rates have gone up recently). It’s in the hands of the governing party to make new changes to relieve the situation.

I often wonder this.

When I compare our situation now to even 12 months ago we are worse off and our standard of living has declined, despite us both having pay increases in the last 12 months.

We don’t eat out or get regular takeaways any more, we don’t drink or smoke, we don’t really have a social life go to cinema or pubs etc.

We can afford to heat our homes and we both have a car but we don’t live extravagantly by any means.

Maybe we do have to accept this is just the way it is?

I really do not think future times will ever get really good again. Not just owing to the pandemic and Brexit but now the cost of living crisis. At least the economy is moving again though and the cost of living crisis is supposed to be finishing the end of next year. We just have to accept many things are now a lot more expensive and we must try to adapt out lifestyle accordingly. I think the main issue here is post pandemic.