I hope this country goes into a recesssion worse than the great depression

smcqis

It doesnt make a difference as much to those who have property as new property they will wabnt to buy will have increased as well, so sell for low and buy for low, therefore FTB get a chance, afteral this is who the price hike affects the most!!

smcqis

pelirocco wrote: »

Its all relative isnt it , if you cant afford to buy a house now , the chances are you wouldnt havent been able to afford a house , 10 , 20 30 40 years ago

Eh no, my parents house was bought 15 years ago for 50k, if they decided to sell it now they would easily get over 200k for it so I dont understand the basis of your agrument! House at the min may be low compared to last 5 years but are still expensive compared to 12-15 years ago

Pobby

pelirocco wrote: »

Its all relative isnt it , if you cant afford to buy a house now , the chances are you wouldnt havent been able to afford a house , 10 , 20 30 40 years ago

Not sure I would agree. I knew many singletons that bought in the South East in the 80`s. Lots of places in the 20k to 30k range to be had in the early 80`s.

PasturesNew

Pobby wrote: »

Not sure I would agree. I knew many singletons that bought in the South East in the 80`s. Lots of places in the 20k to 30k range to be had in the early 80`s.

In the early 80s, I was earning £5-6k/year .... so they would have still been unaffordable to me. Back then it was strictly 3x single income.

Pobby

Having said that, I bought a 2 bedroom bungalow in 1978 for £14,999. It had a good sized garden.

molerat

pelirocco wrote: »

Its all relative isnt it , if you cant afford to buy a house now , the chances are you wouldnt havent been able to afford a house , 10 , 20 30 40 years ago

A house I bought many years ago cost me £15K on a wage of £8K, less than 2x. The wage for the same position is now £35K and the house is now £130K, almost 4x.

Conrad

I want to buy the OP's car for 1/2 price - that's ok I presume

Blacklight

A couple of points some people seem to be missing here:

a) during the 90's we had about seven years where house prices did absolutely nothing (stagnation). What we saw in the first part of this decade were prices catching up to wage inflation as they were becoming dirt cheap (a correction)

b) You can't calculate anything based on 'average wages'. The bottom feeders on £12k don't buy houses. You need to look at skilled labour or career professionals and management who's wages generally increase about 8% pa in line with house prices (notice a trend?).

HAMISH_MCTAVISH

I like this thread.

It perfectly demonstrates the warped and sick mentality of housing bears.

Absolutely brilliant.:T

phil_b_2

On the basis of the OP's argument, nothing should ever increase in value? Everything should be bought for what it was originally purchased for?

Is the OP a 10 year old?