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Debate House Prices
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Fantasy house prices
Comments
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stueyhants wrote: »But income distribution has become more unequal and skewed, so taking the mean is flawed.
Similarly, the ability to use the wifes income is different from the 50's
In the 50's, the average household only had one income
In modern times, the average household has two incomes:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
stueyhants wrote: »But income distribution has become more unequal and skewed, so taking the mean is flawed.
Do you have a source that shows this to be the case?
Specifically comparing income distribution in the early 1950's to income distribution today.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
This only shows data back to 1994 but it shows on income distribution has gone in thw wrong direction.
[IMG]file:///C:/Users/Stu/AppData/Local/Temp/moz-screenshot.png[/IMG]
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Also this graph
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So you can see taking the mean is flawed. I'm trying to find out what the historical medium full time male salary was to make the proper comparision but finding it difficult to get the data.0
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stueyhants wrote: »Also this graph
How about this data?
http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp
(See Regional affordability link)
It shows that in the UK the mortgage repayments as a percentage of income is 30.1% while the 27 year average is 37.2%
For house prices to earnings ration is currently 4.43 as opposed to the 27 year average of 4.02:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
stueyhants wrote: »So you can see taking the mean is flawed. I'm trying to find out what the historical medium full time male salary was to make the proper comparision but finding it difficult to get the data.
Well, you can see that there is a difference between the 90's and now from the graph you provide, but it only shows income after deducting housing costs????
And the other one only seems to show disposable income, not earnings?
And neither go back to the early 50's.....
A simple median full time male income in the early 50's would probably do for comparison, if you can find it.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
In English, the noun mathematics takes singular verb forms. It is often shortened to maths, or math in English-speaking North America. ...'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
you don't have the remotest clue do you Brit - the average age of an FTB has fallen since 1992 from 33 years old to 32More spin to try to justify overvalued house prices. No people use to quite happily buy houses on there own on lower wages. It was greed, lowering interest rates to much, loose lending conditions and fraud that rose the prices so much. Not some new marriage thing.
http://www.communities.gov.uk/documents/housing/xls/141293.xls0 -
Ok, think I have an answer.
Average weekly wage 1950 was about £7.08 (http://www.thisismoney.co.uk/pensions/article.html?in_article_id=427290&in_page_id=6)
so yearly was £368.16
Average house price was 1.9k (http://www.wwwk.co.uk/culture/housing/index.htm)
So I make that about 5.16 times, so less than the 6.1 today.0
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