Average house prices vs household income.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Oh dear....

Poor Graham still hasn't realised how badly he screwed up. A bit humiliating really.

I'd almost feel sorry for him if it weren't for this....



Which, all things considered, was the icing on the cake.:rotfl:

Although, if it's any consolation Graham, it seems you're not alone on the "doesn't understand percentages" front.

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Percy1983 (Today)

Seriously, explain it.

Judging by your response, and how stupid I am, apparently, for picking you up on it, why on earth did you use the paragraph yourself for comparison? If gas was up 56% (instead of 46%), would it have totally undone the point you were trying to make?

Think about it.

You blithering fool.

ukcarper

Graham_Devon wrote: »

Seriously, explain it.

Judging by your response, and how stupid I am, apparently, for picking you up on it, why on earth did you use the paragraph yourself for comparison? If gas was up 56% (instead of 46%), would it have totally undone the point you were trying to make?

Think about it.

You blithering fool.

If gas had gone up 56% it wouldn’t have made much difference unless you spend most of your income on gas.

I can’t see why Percy keeps thanking your posts I though he was an accountant.

HAMISH_MCTAVISH

Graham_Devon wrote: »

Seriously, explain it.

Seriously? You still don't understand?

Mate, you should have just pretended to get it and quietly left the thread.

But OK, if you insist.... It's your funeral.:D

22+32+17+46% = 117% rise ---- Epic Fail. :rotfl:

I'll keep this to easy round numbers, because we're illustrating a principle here and it doesn't change with actual figures.

Take four categories of essential expenditure and assign a number to them.

Food = £100
Water = £10
Gas = £50
Electricity = £90

The total is £250

Now add percentage increases to the original amount.

Food 22% = £122
Water 17% = £11.70
Gas 46% = £73
Electricity 32% = £118.80

The total is £325.50

So the increase between £250 and £325.50 is not 117%.

It's a 30.2% increase. Versus an average household income increase of 55%.

Do you get it yet?:)

wotsthat

Graham_Devon wrote: »

Seriously, explain it.

Judging by your response, and how stupid I am, apparently, for picking you up on it, why on earth did you use the paragraph yourself for comparison? If gas was up 56% (instead of 46%), would it have totally undone the point you were trying to make?

Think about it.

You blithering fool.

If you're in a hole stop digging.

Let's say you spend £1000/ month only on the categories below to keep it simple and additionally to keep it simpler still it's an equal split of £250.

Therefore..

food +22% = £305/ month
water +32% = £330/ month
electricity +17% = £292.50/ month
gas +46% = £365/ month

New monthly cost = £1292.5 i.e. an increase of £292.50. A weighted increase of 30%. Clearly the point is made even if one of those has risen by 56%.

EDIT: Hamish beat me to it.

HAMISH_MCTAVISH

ukcarper wrote: »

If gas had gone up 56% it wouldn’t have made much difference unless you spend most of your income on gas.

Exactly.

I can’t see why Percy keeps thanking your posts I though he was an accountant.

No freaking way.....

How does someone that doesn't understand percentages get to be an accountant????:eek:

HAMISH_MCTAVISH

Graham_Devon wrote: »

Think about it.

You blithering fool.

I did.

And I came to the conclusion you're making yourself look even more stupid than usual.

Which is an absolutely spectacular achievement. :T

HAMISH_MCTAVISH

Graham, there are 4 items of shopping in my basket. Each one has risen by 10%.

Did the cost of my shopping increase by 10%, or 40%?

Percy1983

I was thanking the sentiment rather than the maths.

Don't worry I do understand percentages, I am 110% sure of that.

HAMISH_MCTAVISH

Percy1983 wrote: »

Don't worry I do understand percentages

Could you explain it to Graham then, I think he's in need of professional help.:D

pwllbwdr

Carol_Vorderman wrote:

In my view, it is pointless for most 14-year-olds starting their GCSE courses, to be force-fed mathematical topics which they will never use, when what they desperately need is to become more comfortable with numbers including percentages and fractions used in the world of finance

As seen in today's headlines.