House Price Crash

MSE_Martin

FOR INFO I HAVE NOW WRITTEN A BLOG ON THIS SUBJECT

VISIT http://www.moneysavingexpert.com/blog/

Martin

RHemmings

MORPH3US wrote:

Who on earth starts off in an "average house"? Thats the problem, single people loving on their own want 2 - 3 bedrooms, couples want 3 - 4 bedrooms. And they all want it with a tiny mortgage. Our parents had it tough when they started out and as things go on it gets easier!

Our parents had it much, much, easier than people do today. And I don't see any evidence that people want bigger, more impressive, properties than their parents did. Just look at all the people queuing to buy "affordable" homes which are basically the size and made of the same materials as a garage. Look at all those trying to buy poorly made cramped newbuild flats with no storage. And how much does a tiny newbuild flat in London or the SouthEast cost?

£80,000 would require two salaries of £16,000, hardly big money is it. Oh sorry, I forgot, a couple each earning £16,000 could never afford a 40-inch HD -Plasma tv, a brand new car each, exotic holidays AND a mortgage, so lets all moan about house prices instead!!

A combined salary of £80,000 requires two salaries of £40,000. And I think you'll find a very small percentage of the population has a combined salary of £80,000.

And three bed semi? Thats what my parents are in now aged 50 (ish). Why should someone be able to jump straight into one now when they have worked hard their whole life to get where they are!

People aren't saying there is an affordability problem because people cannot just leap into buying a 3 bed semi. People are saying there is an affordability problem because lots of people cannot afford to buy a two bed flat with two salaries.

Sorry, did you think I was trying to impress people, I wasn't! I was trying to give the wingers something else to moan about!

I think you'll find that many of those "whingers" have a very valid case for complaint.

aderbyshirelad

MORPH3US wrote:

Good shout!!

Cheers, and sorry if my last reply to you was a bit cheeky, but it was too good to miss - hope you agree. :rotfl:

I find the discussions here informative and entertaining. Especially the ones which employ a bit of common sense!

MORPH3US

RHemmings wrote:

A combined salary of £80,000 requires two salaries of £40,000. And I think you'll find a very small percentage of the population has a combined salary of £80,000.

Eh??

It was an £80,000 mortgage I was on about, which requires two salaries of £16,000!!

M

MORPH3US

aderbyshirelad wrote:

Cheers, and sorry if my last reply to you was a bit cheeky, but it was too good to miss - hope you agree. :rotfl:

I find the discussions here informative and entertaining. Especially the ones which employ a bit of common sense!

No worries mate, "loving on their own" sounds like something best not talked about on a family message board :rotfl: :rotfl:

aderbyshirelad

RHemmings wrote:

Our parents had it much, much, easier than people do today.

What's your evidence for this statement?

RHemmings

MORPH3US wrote:

Eh??

It was an £80,000 mortgage I was on about, which requires two salaries of £16,000!!

M

I thought that Martin wasn't talking about a £80,000 mortgage, but a combined salary of £80,000. I may have to listen to his talk again to check.

RHemmings

aderbyshirelad wrote:

RHemmings wrote:

Our parents had it much, much, easier than people do today.

What's your evidence for this statement?

aderbyshirelad

Ok, I can see that. What interests me, and I honestly have no idea what the answer is, so please don't think I'm trying to be clever (your next figures will probably prove that all on their own!!), but what happened to wages over the same period?

RHemmings

aderbyshirelad wrote:

Ok, I can see that. What interests me, and I honestly have no idea what the answer is, so please don't think I'm trying to be clever (your next figures will probably prove that all on their own!!), but what happened to wages over the same period?

The graph is adjusted for inflation.