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Debate House Prices
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How much should the average house price be?
Comments
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Graham_Devon wrote: »As so many people suggest the FTB should buy FTB houses, howcome it's ok to suggest the average earner should buy a small terrace and not the average house? Who then buys the average house? The high earner?
I'm sure we've had this discussion quite a few times? I don't know the answer though.
I guess if 30% don't own, and you assume that around this percentage never will due to earning nothing or very little, then you only need to look at the earnings of the other 70% of the population. Mind you, that is taken in to account with average wages I guess. Isn't it?
Oh I don't know. Ignore me.0 -
This about 2 earners, surely it would be better if it was an option?
I say this as my mum worked part time so she was always around, they has the choice of her not working but it wouldn't leave many spends.
No I can already say once we own a home and have children (fingers crossed) I would love for one of us to stay home or cut hours to be there for our children more, but it just isn't an option, basically people return to work quicker because they have to.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
where does that leave single earners?
Buying a cheaper than average house.....
Why should all single earners be able to buy as expensive a house as two earners?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
This about 2 earners, surely it would be better if it was an option?
I say this as my mum worked part time so she was always around, they has the choice of her not working but it wouldn't leave many spends.
No I can already say once we own a home and have children (fingers crossed) I would love for one of us to stay home or cut hours to be there for our children more, but it just isn't an option, basically people return to work quicker because they have to.
I live in the Southeast and where I am the median full time male wage is £40k £2463 a month. A reasonable 3 bed Semi is about £230k so with a 10% deposit you would need a £207k mortgage £1225 a month (5% 25 years). That’s £1200 a month after mortgage you would need to earn £18k a year to get that.0 -
Graham_Devon wrote: »As so many people suggest the FTB should buy FTB houses, howcome it's ok to suggest the average earner should buy a small terrace and not the average house? Who then buys the average house? The high earner?
Simple!
In very general terms, you have to agree that the bottom 30% percentile earners tend not to buy houses. The top 70% of earners do tend to buy houses.
What's the average salary? £25K? So what's the average salary of the bottom 30%? £13K? That means the average of the top 70% must be around £30K.
So if you must look at the average price of any commodity that sells, then look at the average salary of people who are in the market to buy them. Otherwise, you might just as well factor in the average wages of Burmese waitresses. These people 'could' buy a house down your road, but very probably wont.0 -
someone with two brain cells
Well that would be one brain cell more than someone that hasn't realised the crash is over. :rotfl:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Well that would be one brain cell more than someone that hasn't realised the crash is over. :rotfl:
It hasn't up north, it just getting started.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120
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