I can't stand the doom crew anymore

beecher

Well my job's always been badly paid, and I was on £11,000 in 1993 at the bottom of the scale - no way would I have been able to afford a £40,000 flat at that point in time.

boyse7en

carolt wrote: »

How long did it take for you to realise a reasonable salary? (As a graduate, it must have been pretty depressing, especially if you had friends from uni working in London, or in the professions etc, where salaries were much higher, even in Devon.)

What was your line of work, if you don't mind my asking?

Well, don't know if you'd consider it reasonable but I was up to £14k after 4 years. Doesn't sound a lot an extra £5k, but that would have pretty much doubled my disposable income.

I was a designer for a swimming pool equipment company - brochures, technical manuals, websites, advertising etc. Fortunately I didn't know anyone in London with a similar job (funnily enough, most of the people I graduated with couldn't get a job at all - darn recession)

You should move to Devon - teachers are actually on a good salary compared to the local average due to the national pay structure

moggylover

carolt wrote: »

Gosh - high high price at the time, I agree, and low wage - though if London paid say 16K for someone in your position, can easily believe Devon paid 9K. Did you put down a deposit, as it sounds a highish salary multiple for that time - I thought 3.5 times multiple was the maximum then?

And out of interest, do you have any idea what the equivalent salary/house price would be now?

I'm beginning to get a bit confused here! Carol, just which planet were you on in the 1990's! I was a bit confused when you talked about good sized family houses (not in London) at around £50K - now you think £40K in Devon at that time was a lot - you would have paid that in THIS area, Ceredigion, in the 90's!

My own last three bedroom house in Slough (not huge, and not much garden, and not in a particularly exclusive area) was worth (at its' lowest drop - around £85K - one or two similar ones in poor condition struggled to make the £80K. Pre 89/90 it had risen to around £99/100K. I originally paid £40K for it in mid 1985.

Just WHERE did you see houses that low in price during the 90's?

Just as a matter of interest - if you bought so easily during the 90's - why do you not still have that property, and why are you so keen on price drops?

I ask becuase I actually have two properties (both on the market) at the moment, my own and the one I inherited from my mother. I am not bothered by the drop in market prices as they are both paid for - and as the kind of properties I would now want to move up to are also coming down in price it will be swings and roundabouts for me. I DO, however, believe that the prices needed to reduce and rationalise for the benefit of first time buyers, and ESPECIALLY the lower paid ones.

However, I feel the glee is unpleasant as not every buyer in the last 10 years was a greedy BTL! Ordinary people who just wanted a home, just one home, also managed it - and if they face difficulties because of the price drops then I feel great sympathy for them.

I also find it difficult to understand why in one post you are knocking the BTL crowd - and in another finding "private rental" perfectly acceptable and the best some people are worthy of! I mean me: when I complain about BTLs it is because I believe that not one single person should be allowed to own more than one home until every working person that wants to own one can and does - so dissaproving of BTL is on a moral basis. However, if you do not believe this on such a basis, and do not believe that making huge profits from exploiting other peoples needs (not wants - they are acceptable profit sources;) ) then I cannot see that these people have done anything other than try to be "successful" as seen by the criteria of a Capitalist Society?

I'm afraid that with regard to your earlier post I could never agree with your last point. If the right to buy is there for one single person in this Country - then it should exist for every single person! That some would not wish to - is fine, but the equal opportunity should be there - and sub-prime does not necessarily mean people that will not pay their mortgage - looking back my own was probably sub-prime (in fact all three of the ones I took out probably were on 3 different homes) - but I paid my mortgage, and went without to make sure it was paid. Many poorly paid, or sub-prime borrowers also do - and just as many "middle-class" or "graduate" mortgagees do not! Two of my closest friends lost their home during the 89/90 crash - both had degrees - both had too much "stuff" on tick, and both were totally useless at balancing their accounts, or paying their bills! When mortgage rates rose dramatically to 15% - they were sunk, despite parents who tried to bale them out and by late 1989 they were being repossessed as they refused to sell a year earlier when I advised them it was their only hope of straightening their finances out!:rolleyes:

moggylover

beecher wrote: »

Well my job's always been badly paid, and I was on £11,000 in 1993 at the bottom of the scale - no way would I have been able to afford a £40,000 flat at that point in time.

I have NEVER had a mortgage calculation of less than 4x salary;) . First flat was £27K - early 1984 - salary was £6K, mortgage was £25K.

Second home - 40K - salary £8K - 1985 - mortgage £32K.

Third home - 42K (but a totally different area) - income 5K - mortgage £20K - the rest of equity from second home used for renovation.

Answer to making them viable was to get another job on top of my basic (and in fact at one time I also had part-time work coming in from an old friend who needed a researcher as well as a job from 8.30 to 5.00 and another from 6pm - 1.00am + weekends).

I also took lodgers at the first two - so whilst it may have been easy for some in those days - take my word that it was not for the vast majority!

justpurchased

moggylover wrote: »

I'm beginning to get a bit confused here! Carol, just which planet were you on in the 1990's!

Bitter poor me land!

WTF?_2

justpurchased wrote: »

Bitter poor me land!

Still here after announcing you were off ? :rolleyes:

pizzagirl

He'll be back later on today no doubt in spite of claiming he's left for good about 10 times so far. I reckon he must be an Estate Agent because his word is obviously mud.

WTF?_2

I wonder which regular bull is using the identity as a sock puppet?

Anyone recognise the writing style?

WTF?_2

Dithering_Dad wrote: »

Blimming hell! Another 'newbie' with only 22 posts, joined in Spetember yet 'she' is already sla gging off the regulars. Interesting how 'she' is sandwiched between !!!!!!, who is widely rumoured to have multiple personalities (as well as other personality disorders!).

This is getting absolutely ridiculous and the MSE bods should look at restricting usernames by IP addresses. It's getting so bad that whenever a real newbie joins up you look at them with a large amount of distrust.

Would the people who are doing this (and you knwo why you are !!!!!!?, etc) please stop because you're ruining the forum. It's almost to the point where one wonders if there are only 10 'real' people who log onto the Housing forum! :rotfl:

More abuse from Dithering Dad. Reported.

pizzagirl

justpurchased only joined last month so is hardly a regular. I'm not the only one who got sick of his constant attention seeking and his claiming "I'm off for good this time" every 5 minutes. He's worse than a petulant teenager.