House Prices, Interest Rates and Affordability

silvercar wrote: »

But when we bought twenty-four years ago we didn't also run mobile phone contracts, broadband and sky TV, so we did save some of our income to have a deposit.

And we started off by buying a boring flat and staying in to afford the mortgage because interest rates had risen to 13%.

Our first mortgage was 2.5 x our joint salary and we had saved a 15% deposit. That got us a older style 2 bed flat in North London.

You can't have it all from day 1.

THis is such hoop, back in your day, clothing, white goods etc cost so much more. As a fraction of take-home, mobile contracts dont even register. My monthly bill doesnt account for 0.5% of my take home. My TV license costs me more per year, or didnt you have one of those 'back in the day'? How will cutting out another 0.5% of my salary make a difference? It wont, and you know it. I dont enjoy any of the things you mention (sky tv etc), I have a 40% deposit, yet despite being in the top 6% of earners, can still only afford a !!!!!! 3 bed semi.

We are where we are because the 'older' generation are a bunch of filthy self serving greedy c*nts and have borne little thought for later generations in their decisions. They were (and are) the most spoilt generation in history.

lostinrates wrote: »

I certainly don't fly over uk often but when I do I always think quite the opposite...I think its hard to find somewhere really peaceful. I also hat the amount of light pollution. I'd like to live somewhere like we are in now where we can see the stars.

It is interesting flying over places and seeing how the pattern of habitation/development changes though. Its my favourite part of journeying in fact...:o

Move to greenland then (we flew practicaly through the northern lights, 3 miles above us the other month and it was, without exception, the most amazing thing I have ever seen). I own a 12" celestron, doesnt mean that I would be willing to forgo my familys future for a little light pollution.

To be honest, the level of light pollution from surrounding towns and villages makes DECENT stargazing in the uk an impossibility. Viewing the milky way and numerous galaxies over somewhere like the stan without any viewing aids is one of the pirks of my job.

sss555s wrote: »

I used to think that and i'm sure silvercar did too.

Think what the next generation will think of the cwap going on just now with the "hardness" of the recovery being put back and back.

We've been in a mess for 2 years now yet the paying for it hasn't really started yet and we still borrow zillions per month.

All this bickering and insulting people who have a different view isn't really solving anything and one phrase sums it up....

It is what it is!

Show me the time that yours and sivers generation was so comprehensively priced out of housing for such a prolonged period of time and I will give you that one.

I just hope the boomers know that when they get to elderly care stage, the current generation of 20 year olds will be in parliament and wont have much sympathy.

sss555s wrote: »

I can only speak for my situation and i found if i had the same % deposit i could now buy my house on the same 3x salary multiple i did in 1990.


Maybe someone else will pop in with a graph

You mean the fact that despite record low interest rates, and nationwides screwed definition of a First time buyer, salary multiples for First time buyers on the nationwide index are still higher than they were during the 1991 peak?

And how can you compare your salary multiple TODAY with the one you had back in the 1990s? Or doesnt all that extra experience at work count for anything?


Do you live somewhere grim like Hull?