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Debate House Prices
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Are house prices now affordable
Comments
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Local to me - yes.
A 2 bed terrace can be had for 55-65k,and 3 bed semis 75-100k,not some of the most desirable areas,but life is what you make it,plenty possible to move up if you have the desire.Official MR B fan club,dont go............................0 -
YesGraham_Devon wrote: »Average house price vs average wage tend to use the mean wage.
Which makes no sense to me, but that's how we come to the conclusion that house prices are now 4.5x the average wage, as the average wage is something like 36k on a mean basis. Yet most people earn 26k.
One more time, LR calculate the house prices as a MEAN Average House Price. this is why it is calculated against MEAN Average Wages.
You cannot "cherry pick" to use Median wages because they are lower or the 50th percentile, when house prices are not calculated on average with the Median or 50th percentile:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
YesGraham_Devon wrote: »See, trouble!
Why is she trouble? Becuase she understands that you need to compare like for like?
Sounds like she understands to me and certainly not trouble
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
NoGraham_Devon wrote: »See, trouble!IveSeenTheLight wrote: »Why is she trouble?
:silenced:IveSeenTheLight wrote: »Sounds like she understands to me and certainly not trouble
lol. so gd! We cannot change anything unless we accept it. Condemnation does not liberate, it oppresses. Carl Jung
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Graham_Devon wrote: »Don't you just love the innocence
some people have no shame
some advice for you...
http://www.socyberty.com/Relationships/Does-Internet-Relationships-Ever-Work.191670 -
Nosome people have no shame
some advice for you...
http://www.socyberty.com/Relationships/Does-Internet-Relationships-Ever-Work.19167
I'll have some of what your having.
What the pheck are you on about now?0 -
No
didnt you link?Graham_Devon wrote: »I'll have some of what your having.
What the pheck are you on about now?
its about 'making friends on the internet'
:A
very good chucky, i did laugh. emphasis was on compatability, me and gd have none of that im afraid. so no need to buy a hat or nuffin We cannot change anything unless we accept it. Condemnation does not liberate, it oppresses. Carl Jung
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Graham_Devon wrote: »Averages have 2 different types two.
Mean and median.
The mean is the average of all wages across the spectrum. So if 100 people earn 20k each, but 10 people earn 100k each, the average salary ends up at 27k. yet 90% of the people in these figures earn 20k.
The median works out what most people earn, so in the same example, the median would be approx 20k, as thats what 90% of the people earn.
Average house price vs average wage tend to use the mean wage.
Which makes no sense to me, but that's how we come to the conclusion that house prices are now 4.5x the average wage, as the average wage is something like 36k on a mean basis. Yet most people earn 26k.
No, no, NO!
You've had this explained to you before! And I know it was done correctly as it was done by many people including myself.
The Mode is what most people earn.
The median is the middle value when all the values are arranged in order.
eg 99 people. Place them in order of their wages. The median is what the 50th person earns.
In your example both the mode and the median are exactly 20k whereas yes, the mean would be £27,272.720 -
I'm getting really bored of this average/mean/median argument now.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
to you! 
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