Buy to Let is the British subprime

m00m00

mr.broderick wrote: »

I'll tell you why moomoo because most of the punters on here have made it personal, they follow whichever belief suits them. I wasn't actually getting personal, you said they were too high in respect to salaries, you can't just say that can you? Cause we are all on different salaries.

my point was related to the average salary vs the average selling price.


that is how the ratio is traditionally worked out, and it got too high. It's that simple

mr.broderick

m00m00 wrote: »

my point was related to the average salary vs the average selling price.


that is how the ratio is traditionally worked out, and it got too high. It's that simple

Interesting, exactly how many on less than average salaries would ever be in a position to actually buy a house moomoo?

m00m00

depends on the area, and which definition of average you want to use (mean/median)

you will find the stats skewed somewhat using either and there will be more people below average than you realise.

I did a lot of research on this at close to the start of the 'boom' 2002/2003 and the findings were pretty shocking for the company I did the research for (massive insurance company). Basically 95% of their CS staff (wages 11k-18k) could not buy property in the locations the service (call) centres were based. In Q3 2002. How much worse must it be now.