60% of Mortgage Applications Refused

HAMISH_MCTAVISH

ukcarper wrote: »

I got over 3x joint in 1972 with a 10% deposit

Indeed.

There seems to be a complete misconception amongst our resident bear cubs as to what actually went on in the days before hpc was formed.;)

100% mortgages in 1982, 6 times salary mortgages in the 1970's, 5% deposits in the 1960's.

All perfectly normal.

HAMISH_MCTAVISH

ukcarper wrote: »

Therefore 1973 6.8x now 6.6x.

That's pretty much bang on the percentage price difference up here too, although at a lower multiple.

But mortgages as a percentage of income are far lower today.

Road_Hog

ILW wrote: »

I did look for a defintion of rationing and they all seemed to be connected with a shortage of a particular item. You seem to be saying that there is no shortage in your definition.

Don't swerve the subject again, just for you:

Road_Hog wrote: »

Now, let me explain the difference between rationing and cherry picking.

The mortgage lender can only ration mortgages and only cherry pick customers. So when talking about mortgages you use the word rationing and when talking about customers you use the phrase cherry picking.

The phrase use was "Mortgage rationing continues". So it is correct.

Now respond to that and if you want, I'll respond IN ANOTHER POST ABOUT THE DEFINITION OF RATIONING, but in another post, not this one or your reply post.

Once you understand and have agreed the difference of rationing Vs cherry picking then we can discuss the definition of rationing.

And since you are being obtuse, I'm going to pick you up on your spelling. It's 'semantics' by the way.

Graham_Devon

HAMISH_MCTAVISH wrote: »

So in my families area of Scotland, an "average" house was 3.9 times an above average wage at the time for the area, closer to 5 times a teachers wage, and mortgage interest rates were in double digits.

I do love how you make up your own averages to make your point.

But rely solely on the median full time male salary today to make you point about house prices today.

Graham_Devon

ukcarper wrote: »

Telephone engineer was earning £1.6k and is now earning £30k. Therefore 1973 6.8x now 6.6x.

You sure?

One of my closest friends is a telecoms engineer and earns a lot less than what you suggest.

Earns more that what is offered on this page, but £8.66 an hour for these jobs on a 37 hour week equates to £16,661. You seem to have overestimated quite a lot.
http://www.jobisjob.co.uk/s!!!!horpe-south-humberside/temp-team/telecommunications-engineer/job-offer-qcuey46gx3a4rsujpqh5rr3vz4

Or this, £11.25. But you require your own van.
http://www.telecomsjobsource.co.uk/job/telecoms-engineers-own-van-940030098?src=search

ukcarper

Graham_Devon wrote: »

I do love how you make up your own averages to make your point.

But rely solely on the median full time male salary today to make you point about house prices today.

http://www.housepricecrash.co.uk/graphs-average-house-price-to-earnings-ratio.php

Shows that average house prices were almost 5x earnings in 1973, which I believe is higher than now.

ukcarper

Graham_Devon wrote: »

You sure?

One of my closest friends is a telecoms engineer and earns a lot less than what you suggest.

Earns more that what is offered on this page, but £8.66 an hour for these jobs on a 37 hour week equates to £16,661. You seem to have overestimated quite a lot.
http://www.jobisjob.co.uk/s!!!!horpe-south-humberside/temp-team/telecommunications-engineer/job-offer-qcuey46gx3a4rsujpqh5rr3vz4

There are telecoms jobs and telecoms jobs the example I gave is a direct comparison.

Graham_Devon

ukcarper wrote: »

Shows that average house prices were almost 5x earnings in 1973, which I believe is higher than now.

Fraid not.
http://www.nationwide.co.uk/hpi/historical/Aug_2011.pdf

You keep picking that spike. It's worth noting you keep picking the absolute top of the spike. A spike which lasted not very long at all and came flying back down again over a couple of years.

House prices have been higher than the spike you keep pointing out for 8 years now.

1973 isn't that great a comparison to say people were worse off, if you look at it that way.

robmatic

Graham_Devon wrote: »

You sure?

One of my closest friends is a telecoms engineer and earns a lot less than what you suggest.

Earns more that what is offered on this page, but £8.66 an hour for these jobs on a 37 hour week equates to £16,661. You seem to have overestimated quite a lot.
http://www.jobisjob.co.uk/s!!!!horpe-south-humberside/temp-team/telecommunications-engineer/job-offer-qcuey46gx3a4rsujpqh5rr3vz4

Fook me. My lodger earns more than that as a waitress in a restaurant.

Graham_Devon

ukcarper wrote: »

There are telecoms jobs and telecoms jobs the example I gave is a direct comparison.

Not even possible to have a direct comparison today. Telecoms have changed massively. You can't even begin to suggest the same job exists in telecoms today as it did 30 years ago.