House prices, according to Mum and Dad

linlin_3

Affordability of housing is also influenced by changing attitudes to lifestyle.
Not much of a life when we paid 14.75% mortgage interest.

dougk_2

whambamboo wrote:

what a lot of rubbish.

When I earned £25k I had zero disposable income after food, clothing, council tax and £850/month rent.

Tax is also 33%: 22% income tax, 11% NI.

You had £850 of disposable income - The rent which could have paid £850 of mortgage! Thats circa £200k Interest only mortgage at 5% interst rates. Remember IO mortgate is a direct replacement for rent as at the end of the day in neither case do you own the house, but in the case of buying your house proably would have doubled or trebled in value over a 25 year period.

On £25k a year take home pay is somewhere around £1500 per month - so food , clothes and council tax (and heating i assume) came to £650 per month then??? I could halve that amount no probs.