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Debate House Prices
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What's your Household Income?
Comments
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Just out of interest how is disposable income defined, is it adjusted for housing costs, energy, food commuting etc?
My understanding is that disposable income is defined as after tax and benefits.
And discretionary income is defined as after essential living costs.“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 -
Going4TheDream wrote: »Just curious as to what this will all prove?
Someone earning £15/20k a year but having bought a house many years ago with a small mortgage could well be in a better financial situation than someone who earns 3 or 4 times that who bought a home (or rents and yet to buy a home).....
Are earnings directly related to quality of life, or is it disposable income that is directly related to quality of life?
Exactly, that's the position I'm in. My income is well less than £15k but I have a beautiful home that I've paid for outright and I'm mortgage free. So that gives me lots of disposable cash as I have no rent/mortgage for a few holidays each year and luxuries.
I'd still like to see house price decreases so others today get the lucky opportunities I had to buy their own home.
I see my category of less than £15K a year is currently leading the poll which I'm not suprised about to be honest.0 -
But as for disposable income, it rose non-stop between 1997 and 2007.
My job as was in 1997 no longer exists.
In fact I would say that in general, people working in finance earn far lower salaries than 15 -20 years ago. Technology has seen to that. Many roles have been dumbed down. As can be seen by Corporate companies moving their financial processing centres to Eastern Europe.0 -
My income is well less than £15kI pay a huge amount of tax .
Cognitive dissonance? Or just forgetting what this socky has said elsewhere....
It must be hard to keep track of all the different fairy stories.
“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: »Cognitive dissonance? Or just forgetting what this socky has said elsewhere....
It must be hard to keep track of all the different fairy stories.
I do pay a huge amount of tax, I'm not a tax avoider. You too dim to know that low earners pay tax too?0 -
Many people are on some form of benefits, child credits, etc etc ... and they always forget to tot those up as income.HAMISH_MCTAVISH wrote: »Mildly curious to see if MSE is representative of wider society.
Anonymous poll.
UK graph below....
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My income is sliding by the day ..... yesterday it was £5, so if I did that every day it'd be about £1800/year .... with rent and basic bills costing me £7500/year... luckily it's a little over £5/day at the moment on average... this month probably annualises at about £5k. So I dip into my savings for any shortfalls....0
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Where's the option that says "I can't trust disclosure of anything financial to Hamish" ?
Or would the score for that column be off the scale? 0 -
PasturesNew wrote: »Many people are on some form of benefits, child credits, etc etc ... and they always forget to tot those up as income.
They do indeed.
I'd bet most of those ticking the box for under 15K have forgotten to include at least some, if not all, of their benefits.
Or are pensioners, etc, with a paid for house and capital behind them but no need for much income.“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 -
Is this another I earn more than most of you question. Hamish comes across on many of his posts that he believes he is better than most of us. He certainly believes he knows more about houses, the economy , gold and silver etc.
I don`t care how much he earns compared to me. I am happy with my life..0
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