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Debate House Prices
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Mainstream media article says it's not lending, its prices.
Comments
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ultrawomble wrote: »Or 6X the salary of a single income couple.
the year is 2011 - the 60's was a long long time ago0 -
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ultrawomble wrote: »That right, I forgot that there are no stay at home mums these days - they're all working to pay the mortgage and and nursery fees.
i'm not saying that there are no stay at home mums (or dads)
however if only one partner is out working and on only £26k then imo the other partner should also be out working
ok there may be say 2-3 years that this is difficult (until kids start pre-school / school) but this is only 2-3 years0 -
Here is the real elephant in the room, if only people could get the credit to buy those houses
Buying a house is cheaper than renting
Renting a home now costs an average of 10.5pc more than paying interest on a mortgage for a comparable property, up from a premium of 8.7pc in the middle of last year, according to property website Zoopla.co.uk.
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8356972/Buying-a-house-is-cheaper-than-renting.html'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Here is the real elephant in the room, if only people could get the credit to buy those houses
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8356972/Buying-a-house-is-cheaper-than-renting.html
I should hope it was cheaper Steve, base rate is at 0.5%. Apart from people not able to get credit, it might also be dawning on the ones that can, just how much will they be paying on a mortgage when rates go up, 25 years is a long time to have large debts with the economy in it's current predicament, with little light at the end of the tunnel.
TBH, I feel blessed to be in the position I'm in, neither owning with a large mortgage for decades nor renting and hoping/waiting seems a particularly good place to be.Have owned outright since Sept 2009, however I'm of the firm belief that high prices are a cancer on society, they have sucked money out of the economy, handing it to banks who've squandered it.0 -
i'm not saying that there are no stay at home mums (or dads)
however if only one partner is out working and on only £26k then imo the other partner should also be out working
ok there may be say 2-3 years that this is difficult (until kids start pre-school / school) but this is only 2-3 years
So the other partner who currently doesn't work, goes to work.
Earns some wages, and hands them all over for childcare.
Were no further forward. It's not just 2-3 years. 4 year olds can't walk themselves home from school and let themselves in, while cooking a slap up meal for when mum and dad get home.0 -
Graham_Devon wrote: »So the other partner who currently doesn't work, goes to work.
Earns some wages, and hands them all over for childcare.
Were no further forward.
If you're a couple with two kids and your combined income is £26k, how the hell do you ever expect to buy your own home?
Either work and buy someone or don't and don't. Complaining the price of something is too high for the amount your earn isn't going to make it cheaper.0 -
Blacklight wrote: »If you're a couple with two kids and your combined income is £26k, how the hell do you ever expect to buy your own home?
Yes, that proves that prices are too high today.
Think back. It was perfectly possible to buy a house on average wage and one earner back in the day. Hell, my dad did it as a lorry driver. Sure, was a struggle, and no ones suggesting any different. But I'm sure many of us were bought up in a one average wage earning family, in a home that was bought.
Again, you have proven the point, probably without realising it.0 -
Graham_Devon wrote: »Yes, that proves that prices are too high today.
Think back. It was perfectly possible to buy a house on average wage and one earner back in the day. Hell, my dad did it as a lorry driver. Sure, was a struggle, and no ones suggesting any different. But I'm sure many of us were bought up in a one average wage earning family, in a home that was bought.
Again, you have proven the point, probably without realising it.
back in the day
the point is that in most families today both parents work
you will be saying next that women shouldn't have the right to vote0 -
the point is that in most families today both parents work
I don't kniow if it's most, but a lot more, certainly.
And those with one working person are still competing in a market where a lot of couples are both prepared to work, tough titties really.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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