Housing Affordability has peaked, now decreasing

The_White_Horse

rumbaba wrote: »

Yes, you're right. I think you'll find tghat throughout time ALL lowly paid staff have had to rent, or been housed by the council or local housing association.

Supermarket cashiers have never been able to afford a mortgage - ever. It isn't a God-given that all and sundry are entitled to buy a house of their own you know! This isn't Utopia.

You have the 'have's' and you have the 'have nots' - that may seem unfair - but it's the way of the world. If people aren't born into money, or inherit it, then the only way for them to make a success of their lives is to study and work hard so they can earn a decent salary to enable them to buy their own home. After all, that's what most Englishmen aspire to - owning their own home. Beinf king of the castle and all that.

It is sad that low-paid people can't afford a mortgage, although even they could possibly get a small one with interest rates as low as they are now (they could always go on to a fixed rate). But it's also sad that some people live in tin huts with no running water in countries all around the world. Should we all stop treating ourselves on account of their hardship? Cos that's what you're implying.

It's not my fault that the supermarket cashier chose that profession!

the problem is, in London at least, is that it is not the cashier who is struggling, but the accountants and lawyers and decently paid workers.

for people to afford a three bedroom semi in a decent suburb, they need the best part of 350k. that is a large multiple for those earning 60-70k plus.

when people on 70k are struggling to buy a three bedroom semi, then there is a problem.

nearlynew

rumbaba wrote: »

Supermarket cashiers have never been able to afford a mortgage - ever. It isn't a God-given that all and sundry are entitled to buy a house of their own you know! This isn't Utopia.

3 or 4 years ago these people would have "got" a mortgage.

Now, when it turns out that those same people who bought back then can no longer "afford" it, do you think they should be repossessed?...

chucky

nearlynew wrote: »

Now, when it turns out that those same people who bought back then can no longer "afford" it, do you think they should be repossessed?...

here we go :money:

ukcarper

The_White_Horse wrote: »

the problem is, in London at least, is that it is not the cashier who is struggling, but the accountants and lawyers and decently paid workers.

for people to afford a three bedroom semi in a decent suburb, they need the best part of 350k. that is a large multiple for those earning 60-70k plus.

when people on 70k are struggling to buy a three bedroom semi, then there is a problem.

You can always commute a lot of people where I live Surrey/Hants border do. In fact I worked in outer London and moved here when I got married as I couldn’t afford a house any nearer.

nearlynew

nearlynew wrote: »

3 or 4 years ago these people would have "got" a mortgage.

Now, when it turns out that those same people who bought back then can no longer "afford" it, do you think they should be repossessed?...

Once again the HPI cheereleaders are unable to answer this question.
It really is a conundrum for them.


I call it "the paradox of bullsh1t"

rumbaba

leveller2911 wrote: »

Really well come the 4th of Jan my two will be back at school so I would research a bit more before making yourself look like a bit of a know all.:rolleyes:..

Never mind we all make mistakes.;)

Yeah - and you've just made another one -- you thicko! No wonder you're a loser, you uneducated oaf!

I'll educate you shallI? :money:In the Christian tradition of the Church (naturally the origin of the holiday or holy-day we know as Christmas), Christmas begins at sundown on December 24 (Christmas Eve) and ends on January 6, the Feast of the Epiphany, when the Church commemorates the visit of the Magi (Wise Men) to Jesus. Christmas is twelve days, not one!
From this tradition comes the song "The Twelve Days of Christmas." The idea that Christmas begins just after Thanksgiving is an idea brought about by popular/consumer culture. Likewise the idea that Christmas ends by December 26.
Churches that follow this tradition do not decorate until December 24 and leave decorations up until at least January 6. Before Christmas Eve, the Church observes approximately four weeks of Advent, a penitential time of preparation for Christmas.


But I suppose YOU think Christmas ends when your kids go back to school!!!!!! YOU ninkapoop!!!:rotfl: D'oh D'oh D'oh!!!!!!!!!!!:D

rumbaba

Generali wrote: »

Especially in the latter day Eden that is Purley I suspect.

You've obviously got what Carolt's got - not a lot!:rotfl: Except a sack of King Edwards on ya shoulder.......................

Your paranoia that everyone is PP is pathetic. Do you seriously think only one person out of the thousands of members on here don't find you a boring old prig?!! One who , er, exaggerates just a wee bit??????:o

Pobby

What has happened to some of my friends, remember we don`t live in a great wage area but house prices are second to the South East, is they are now locked into say a grand a month mortgage. What`s that, about £1,350 before tax. So to my calculations, if jointly they earn about £40k a year, all is fine bit if a job goes Pete Tong it`s not a case of being able to take any old job at minimum wage without a struggle.

rumbaba

The_White_Horse wrote: »

the problem is, in London at least, is that it is not the cashier who is struggling, but the accountants and lawyers and decently paid workers.

for people to afford a three bedroom semi in a decent suburb, they need the best part of 350k. that is a large multiple for those earning 60-70k plus.

when people on 70k are struggling to buy a three bedroom semi, then there is a problem.

What YOU seem to be forgetting is, that, most FTBs don't buy 3-bed semis! They start off buying a one or two-bed flat, keep it for 5 years or so, make a whopping profit on it, and then move up the ladder! Many FTB's who have bought 2-bed flats have made 100 or even 200% PROFIT on it after 5 years......so their mortgage on their £350k semi could be as little as £150k or £200k.

FEW, if any, FTBs buy a 3 bed semi as their first property.

It seems that many of you on here are under this illusion that you deserve a nice spacious house as soon as you've reached your 20s! Most FTBs in their 20s start off small (and are grateful for it) and work their way up the ladder until by the time they're reaching their 40s they have a 4 bed detached .

rumbaba

nearlynew wrote: »

3 or 4 years ago these people would have "got" a mortgage.

Now, when it turns out that those same people who bought back then can no longer "afford" it, do you think they should be repossessed?...

I'm not convinced they would have got a mortgage 3 years ago. I know banks were irresponsible then, and lending 5/6/7 times one's salary, but ultimately the blame lays with the person taking out the mortgage! They should do their sums, and if they know they can't afford the repayments they shouldn't be so darned greedy!