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TV Expert

man-in-the-street
Posts: 9 Forumite
I had to laugh out loud this morning watching a 'money saving expert' on television discussing house prices. He was attempting to argue that houses might not be a good investment over the life of a mortgage as prices might drop. Has anyone ever come across a normal house that is now cheaper than it was 25 years ago, even allowing for inflation? Thought not.
He then went on to discuss the plight of the first time buyer, saying the average house price in the UK was £180,000 (it isn't - it is currently £193,000), and that a first-time buyer would therefore need to be earning £50-60k. Well DUHHH!! Mr Lewis, first-time buyers with low incomes don't buy an 'average' house, they buy at the cheaper end of the market!
I hope not all the advice on this site is this poor.
He then went on to discuss the plight of the first time buyer, saying the average house price in the UK was £180,000 (it isn't - it is currently £193,000), and that a first-time buyer would therefore need to be earning £50-60k. Well DUHHH!! Mr Lewis, first-time buyers with low incomes don't buy an 'average' house, they buy at the cheaper end of the market!
I hope not all the advice on this site is this poor.
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Comments
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LOL - GET READY TO BE ATTACKED LEFT RIGHT AND CENTRE.
I'm assuming you're just doing this to try and cause trouble, your IP address probably matches up with an existing user ID, hoping your "proper" user name doesn't get banned!
but anyhow welcome to the site!0 -
man-in-the-street wrote:I had to laugh out loud this morning watching a 'money saving expert' on television discussing house prices. He was attempting to argue that houses might not be a good investment over the life of a mortgage as prices might drop. Has anyone ever come across a normal house that is now cheaper than it was 25 years ago, even allowing for inflation? Thought not.
House prices are at their highest real (adjusted for inflation) values pretty well ever. If you asked your question in 1996, house prices would be most likely cheaper in real terms than they were 25 years earlier in 1971. When was the early 70s house price crash?
Here's a question for you. We're now at more or less the highest real house prices ever. Historically they've always been cheaper in real terms. Why should house prices from now on in always be higher than now? Surely taking lessons from history, they should be cheaper much of the time.0 -
I agree with the point at what is the point of quoting the average house price when it would be more useful quoting the average price of houses purchased by first time buyers - ie. what is the cost of the first step on the ladder.0
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CB1979 wrote:LOL - GET READY TO BE ATTACKED LEFT RIGHT AND CENTRE.
I'm assuming you're just doing this to try and cause trouble, your IP address probably matches up with an existing user ID, hoping your "proper" user name doesn't get banned!
but anyhow welcome to the site!
I never try to cause trouble!!
I don't have a 'proper' username, just this presumably 'improper' one. I only joined today after seeing the tv interview. But would getting banned the same day as joining be a record, or is that a subject for another thread?0 -
man-in-the-street wrote:I never try to cause trouble!!
Why not? Isn't that what the internet is for?0 -
I saw this so called 'money saving expert' on the BBC this morning. looks oddly like a fellow i see at the top left corner of this website...
I do agree that first time buyers would rarely buy the 'average' house - however, someone on an 'average' salary should hope to be able to afford the 'average' house.0 -
Man in the street is a plonker - wake up and smell the coffee! By the way there's another thread on the go about this0
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backtomum wrote:Man in the street is a plonker - wake up and smell the coffee!0
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man-in-the-street wrote:Ah yes I just loved a reasoned debate.
:rotfl:
welcome to the "housing" section of the boards :rolleyes:0
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