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Debate House Prices


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15 ways in which I am paying for a house for everyone except me

24

Comments

  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 20 August 2012 at 9:51AM
    leveller2911 wrote: »
    Choosing to risk taxpayers money to prop up the local housing market is a "Jolly good idea"......

    Could it just be that house prices in the area are unaffordable? Average earnings in the Rother District are £17,945-00 pa average houseprice is £162,422 and around £160k for a small terraced house thats 9x average earnings .....

    When was the last time Local Councils stood as guarantors for mortgages Hamish?.

    Its the same old same old from you "its all down to banks refusing to lend 95%,100%,125%, 200% mortgages". Affordability eh?



    http://www.hastingsobserver.co.uk/news/local-news/48-council-staff-on-double-the-average-hastings-wage-1-2757403


    http://news.bbc.co.uk/1/shared/spl/hi/in_depth/uk_house_prices/html/21ud.stm

    There are 32 houses on rightmove in hastings between £100k and £125k

    Median full time male earnings Hastings £23.7k ONS ASHE £22.6k full time all
  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    ukcarper wrote: »
    There are 32 houses on rightmove between £100k and £125k


    If I had posted 32 houses between £450k-£500 k you would say thats not a true picture of the state of the housing market.


    Average prices compared to average earnings gives an accurate comparison.
  • ILW
    ILW Posts: 18,333 Forumite
    leveller2911 wrote: »
    If I had posted 32 houses between £450k-£500 k you would say thats not a true picture of the state of the housing market.


    Average prices compared to average earnings gives an accurate comparison.

    No it does not. That would assume all workers are housebuyers.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mystic_trev wrote: »
    Remember Kids - Don't do drugs!

    I must be way more sober than I usually am at this point on a Saturday night, because it really does seem like an awful lot of people are very confused around here this evening....
    “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”
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    leveller2911 wrote: »
    If I had posted 32 houses between £450k-£500 k you would say thats not a true picture of the state of the housing market.


    Average prices compared to average earnings gives an accurate comparison.

    So house prices are compared to local earnings in Hastings are just under 7x local full time male earnings but they were 5.5x in 1999 when over the whole country they were 3.5x.

    Also you can clearly buy a small terrace for £120k
  • Loughton_Monkey
    Loughton_Monkey Posts: 8,913 Forumite
    Part of the Furniture Combo Breaker Hung up my suit!
    leveller2911 wrote: »
    .....Could it just be that house prices in the area are unaffordable? Average earnings in the Rother District are £17,945-00 pa average houseprice is £162,422 and around £160k for a small terraced house thats 9x average earnings .....


    People with at least an average IQ know that (a) the average salary of house buyers is higher than the average salary of non house buyers, (b) the average first time buyer has never been able to afford an average house, and (c) an average couple would be expected to earn double the average wage if they are both working.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Loughton_Monkey wrote: »
    People with at least an average IQ know that (a) the average salary of house buyers is higher than the average salary of non house buyers, (b) the average first time buyer has never been able to afford an average house, and (c) an average couple would be expected to earn double the average wage if they are both working.

    All very true....

    Explains a lot really.
    “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”
  • robmatic
    robmatic Posts: 1,217 Forumite
    brit1234 wrote: »
    Anyway as prices fall the banks pot of money will be able to lend to more people.

    How will that work? I'd hazard a guess that they would be more likely to stop lending.
  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    edited 19 August 2012 at 10:47AM
    Loughton_Monkey wrote: »
    People with at least an average IQ know that (a) the average salary of house buyers is higher than the average salary of non house buyers, (c) an average couple would be expected to earn double the average wage if they are both working.


    Can you please post evidence of the above for specific areas including Hastings and the Rother District?.

    I don't mean national averages as any person with an average IQ would know that the housing market is area specific.

    Thanks in advance..........
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    HAMISH_MCTAVISH wrote: »

    What a steaming pile of rubbish....
    Says 2 Homes Hamish
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