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Latest Peice Of "genius" From Some "think" Tank!
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So us older folk who have worked and saved all our lives must bale out the kids because the little darlings are finding it too difficult? Life is difficult life is unfair, get on with it.
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Already mugged of savings income due to unfairly low interest rates, they now want the generation who have had it better than previous ones, due to accumulating wealth in the country over time, to be able to grab even further finance from the older prudent generation to gift to themselves. The property ladder may be a little more difficult to get onto now, but...
09:06 Tue 08th May 2018
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“The issue is you're doing multiplications, not looking at the difference in % increase of the housing prices VS the % increase in the wages received.”
Er…er…Let’s have a look at sunny-dave’s numbers and, as they say “do the maths” instead of blindly rattling off unfounded “facts”:
“Terrace house in my small town now £125,000. 1976 - same house about £11,000,” (Increase is 1,136%).
“starting salary for a teacher £25,000 (now) starting salary for a teacher about £2,300 (1976).” (Increase is 1,087%).
It’s blindingly obvious (except perhaps to Dianne Abbott) that if the “multiplier” is about the same then the percentage increases of the component parts must be about the same. Back to school for you, spathi.
The difference in percentage increases demonstrated by Dave indicate that in many places the percentage increase in salary and the increase in house prices is much the same. Only when you look at places like London does it become skewed. When taking account of the fact that mortgages are considerably cheaper now and tax rates in the main considerably lower, today’s first time buyers are somewhat better off.
“The most obvious one is demand outstrips supply, so build more houses.”
Er, no. Building more houses will simply encourage more demand. The answer is to reduce demand by restricting immigration and discourage people already here from having children.
“…petrol now just over £1 per gallon,”
Tell me where, bhg, and I'll be round to fill up! :-)
Er…er…Let’s have a look at sunny-dave’s numbers and, as they say “do the maths” instead of blindly rattling off unfounded “facts”:
“Terrace house in my small town now £125,000. 1976 - same house about £11,000,” (Increase is 1,136%).
“starting salary for a teacher £25,000 (now) starting salary for a teacher about £2,300 (1976).” (Increase is 1,087%).
It’s blindingly obvious (except perhaps to Dianne Abbott) that if the “multiplier” is about the same then the percentage increases of the component parts must be about the same. Back to school for you, spathi.
The difference in percentage increases demonstrated by Dave indicate that in many places the percentage increase in salary and the increase in house prices is much the same. Only when you look at places like London does it become skewed. When taking account of the fact that mortgages are considerably cheaper now and tax rates in the main considerably lower, today’s first time buyers are somewhat better off.
“The most obvious one is demand outstrips supply, so build more houses.”
Er, no. Building more houses will simply encourage more demand. The answer is to reduce demand by restricting immigration and discourage people already here from having children.
“…petrol now just over £1 per gallon,”
Tell me where, bhg, and I'll be round to fill up! :-)
//Maybe because (with the exception of parts of London and a few other hot-spots) it is absolute rubbish - repeating a falsehood a thousand times doesn't make it any less false. //
That statement is absolute rubbish.
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That statement is absolute rubbish.
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IMO if the young didn't live above their means...( credit cards and we can have what we want) then like us in our younger days...we only got what we could afford, went without TV because household appliances needed to be bought when we could... Nowadays, they see summat, want it, get it and pay over 4 or more years!
Sorry folk..... It's maths... Can't afford NOW... Can't have. Also IMO if the man and woman didn't both work....(sometimes for extras such as holidays et al rather than necessities) then house prices would be as they should...not exorbitant and unaffordable now because people live beyond their capability of paying for a mortgage.
Surely this all makes sense...well it did in my day and one valued everything we got and felt proud we achieved our goal. Not cloud cuckoo land...it's called reality.
Sorry folk..... It's maths... Can't afford NOW... Can't have. Also IMO if the man and woman didn't both work....(sometimes for extras such as holidays et al rather than necessities) then house prices would be as they should...not exorbitant and unaffordable now because people live beyond their capability of paying for a mortgage.
Surely this all makes sense...well it did in my day and one valued everything we got and felt proud we achieved our goal. Not cloud cuckoo land...it's called reality.
we had it easy did we, look at the interest rates back in the 80's
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this place sprung up in Bristol and ended up being called sadly broke.
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this place sprung up in Bristol and ended up being called sadly broke.
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//Tax on profits on your main residence...its only around the corner. //
You may well be correct there Ryzen. Oh how the Snowies will clap and skip. But....but.....We oldies have not got to long to endure it. No tax, once introduced, has ever been cancelled. The ones who are calling for it the loudest will end up paying it the longest. :))
You may well be correct there Ryzen. Oh how the Snowies will clap and skip. But....but.....We oldies have not got to long to endure it. No tax, once introduced, has ever been cancelled. The ones who are calling for it the loudest will end up paying it the longest. :))
//No tax, once introduced, has ever been cancelled. \\
Not quite true, Togo.
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Not quite true, Togo.
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Quite right, Spath. I thought it was a well known fact that average houses cost 3x annual average salary in 70's, 12x today.
Anyone who earned £20 a week in the 70's was either an apprentice or a lazy bludger.
All these tales of hardship, lol. Ask them about their 100% mortgages. (even 120%) Like that, wouldn't you, Spath? Not only move into a house with no downpayment. They give you £40 or £50,000 to spend on disgusting coral pink bathroom sets & similar trash they used to spend their(your) money on.
And now you're paying their feather-bedded pensions. Youngsters like you will either work until you're 90 or just get put down like an old cart-horse when you're worked out.
Anyone who earned £20 a week in the 70's was either an apprentice or a lazy bludger.
All these tales of hardship, lol. Ask them about their 100% mortgages. (even 120%) Like that, wouldn't you, Spath? Not only move into a house with no downpayment. They give you £40 or £50,000 to spend on disgusting coral pink bathroom sets & similar trash they used to spend their(your) money on.
And now you're paying their feather-bedded pensions. Youngsters like you will either work until you're 90 or just get put down like an old cart-horse when you're worked out.
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