House Prices, Interest Rates and Affordability

ukcarper

Mr.Brown wrote: »

No I wouldn't expect them to drop to their lowest ever level. I would expect a fairly severe correction after a huge bubble though.

I must admit I would have expected a reasonable drop especially with the tighter lending restrictions and was quite surprised that prices in my area started to increase . But after trying to buy in the seventies when house prices really did rocket with the tight lending criteria in place then I suppose I shouldn’t have been.

ukcarper

Originally Posted by ukcarper
I joined BT or should I say GPO in 1966 and the £1000 salary was for the highest technical grade and they do get about £30k now. Back then you would probably have to been in your mid twenties to earn that.

nutrisse wrote: »

Abuse Report Received [#734520]

I know you are keen on reporting people but can you please explain what is wrong with my post, as I don’t understand why you have reported me.

LydiaJ

ukcarper wrote: »

Originally Posted by ukcarper
I joined BT or should I say GPO in 1966 and the £1000 salary was for the highest technical grade and they do get about £30k now. Back then you would probably have to been in your mid twenties to earn that.



I know you are keen on reporting people but can you please explain what is wrong with my post, as I don’t understand why you have reported me.

nutrisse has reported several posts today that I can't identify as in the slightest bit abusive. I shouldn't worry about it if I were you. The abuse team will see that your post is fine when they look at it.

(I wonder if he/she/it will report me for this??)

IveSeenTheLight

Graham_Devon wrote: »

The problem with this, is it only measures those who can afford houses in the first place.

You could have had 85% owners in the 80's, compared to 10% owners today (due to people not being able to afford homes) and the numbers would still suggest that houses were affordable. Simply because it only looks as that who were able to secure a house.

I understand what you are trying to say.

You are let down by using figures which are grossly inaccurate and a reversal of what you are trying to say.

In fact there is a higher percentage of owner occupiers, with greater number of properties in recent years than back in the 80's.

If it was far more affordable in the 80's why was the owner occupancy percentage not higher than today?

phil_b_2

ukcarper wrote: »

I know you are keen on reporting people but can you please explain what is wrong with my post, as I don’t understand why you have reported me.

Quick piece of advice, just put that troll on your ignore list like everyone else. It makes things easier.

IveSeenTheLight

Graham_Devon wrote: »

And this is where the 2 people earning a wage thing falls completely. It's either going to have to be one person bringing in a wage, and maybe, at a push, another bringing in a part time wage. Or both bringing in a wage, but avery large percentage of those wages paying for childcare.

Please think of the children

We did.
My wife and I paid heavily into our mortgages before we decided to have children.
My wife was 31 when we had our son and had been working for 9 years after leaving Uni before we had our first child.

That's a lot of years of being able to build up a decent deposit and pay off a huge chunk of the mortgage before children come along.

Now I work and the wife stays at home.

Why do people expect to be able to buy property, have children, have everything all at once?
Maybe we should all be Lizzy Bardley's

Sometimes it's best to plan ahead and make decisions accordingly

IveSeenTheLight

Nutrisse wrote: »

[SIZE=+1]Abuse Report Received [#365831][/SIZE]

Ever hear of the boy who cried wolf?
You seem to report the same people time and time again yet nothing appears to be happening to them.

You also fail to report others who have used equally as bad or worse abuse.

I sense that if you really are reporting these people, that the abuse team have your e-mails redirected to the trash can

IveSeenTheLight

Mr.Brown wrote: »

After inheritance tax it's more like 60% 'success' rate...

Not exactly.
Inheritance tax only kick in after the estate value exceeds £350,000.
With the average property value well below this, the majority of inheritance tax will be tax free.

Indeed it appears that this level ensures that 94% of estates are not affected by inheritance tax
http://www.fairinvestment.co.uk/News/tax-news-Chancellor-increases-Inheritance-Tax-threshold-94.html

Rolling forward I envisage that more and more funds will be gleaned from inheritance though

Entertainer

Glad it only took until page 2 before someone mentioned real interest rates and inflation's effect on principal.

nembot

Clearly affordibility is still in question, even with historically low interest rates.

http://forums.moneysavingexpert.com/showthread.html?t=2369681