A UK balance sheet recession?
Inspired by Stephen Gordan’s post at Worthwhile Canadian Initiative, I decided to create some similar series for the UK. At present, after trawling through the utterly user-unfriendly ONS site (what’s up with that, by the way?), I’ve only managed to put together series for UK net worth. I plan update this post as I pull together more data.
Total net worth in current prices shows a slight decline beginning in 2007:
Scaling this series against the population and the price level (CPI) makes the decline look more noticeable:
But still not as steep as the decline in the early 1990s, and nothing on the scale of the losses in the US, where real per capita net worth shrank back to 1999 levels.