why do people complain about high house prices?

Doom_and_Gloom

My dad is on a good wage (far from minimum wage), owns a house outright that he rents and has a mortgage aswell. He complains about how high house prices are as he realises how difficult it will be for my sister and I to each eventually own a house of our own.

The house he bought around a decade and a half ago that has a mortgage was bought for not much more than 80K is 3 bedroom detatched house and is rather large with a large garden. The house he bought a few years ago outright was around 100k is a 2 bedroom terrace that is rather small with a modest garden. This is the difference of only a decade and a half (both houses in the SE)! It has nothing to do with low wages and not being able to afford a house. It has everything to do with house prices rocketing too far. Way beyond the percentage rise of wages over the same time period. To buy the house that my dad bought for 80K then would cost around 300K+ now. It is not as simple as you make out.

By the way my dad also complains about the cost of fuel, gas, electricity, public transport etc and as I've said he is not on a small wage .

Doctor_Gloom

Doom_and_Gloom wrote: »

Doom and Gloom.

hi bruv.

JamesU

Doom_and_Gloom wrote: »

It has nothing to do with low wages and not being able to afford a house. It has everything to do with house prices rocketing too far. Way beyond the percentage rise of wages over the same time period. To buy the house that my dad bought for 80K then would cost around 300K+ now. It is not as simple as you make out.:p.

Agreed. Thats why the differential between annual income and house prices has to come back to some form of normality as mentioned in my posts earlier.

JamesU

ukcarper

What is normality though 15years ago was the bottom of the last crash.

I bought my house in 1985 for £60k probably worth about £280k now

All_eBayed_Out

As a woman who was made redundant & can't seem to get back on the career ladder, I am looking forward to becomming impregnated and then what will follow is a free house and a possible visit on the jeremy kyle show.

I will then have no need to complain about house prices.

Euphoria1z

ukcarper wrote: »

What is normality though 15years ago was the bottom of the last crash.

I bought my house in 1985 for £60k probably worth about £280k now

do you reckon house prices as an average will be aprx 3-4 times what they are now in the next 15-20 yrs ?

ukcarper

Euphoria1z wrote: »

do you reckon house prices as an average will be aprx 3-4 times what they are now in the next 15-20 yrs ?

I've no idea and it’s not only house prices that have gone up wages have tripled since 1985.
I personally think that changing lending criteria has caused some of the difference between wage and house price inflation.

But even with the criteria in place now I would still be able to buy the house I bought in 1972 even though average wages have gone up 17x since then while the house has gone up 23x.

ukcarper

average house prices have gone up less than 3x since 1990

rumbaba

carolt wrote: »

I think you forget your capitals today, pickledpink.
HERE'S SOME FOR YOU.

Your style still stands out a mile dear.

At least some of us are capable of writing under just the one username.

I see your paranoia's still raging. Either that or you have a crush on PP.:o

Doom_and_Gloom

Doctor_Gloom wrote: »

hi bruv.

I'm a girl so not a 'bruv' :eek:.