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Debate House Prices
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I done to show that if you disregard the last boom and the previous bust the figure is almost the same.
People seem happy to disregard the last boom when trying to talk down average but never mention the 90s when prices were lower than any time since the 50s.
It's funny that people keep quoting 3x as long term average when it was only below 3x for a few years in 90s
I did realise that.
I was being facetious in order to portray the 3x house price mentatlity flaw.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I done to show that if you disregard the last boom and the previous bust the figure is almost the same.
People seem happy to disregard the last boom when trying to talk down average but never mention the 90s when prices were lower than any time since the 50s.
It's funny that people keep quoting 3x as long term average when it was only below 3x for a few years in 90s
I guess 3x one income is different to 3x joint income."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I guess 3x one income is different to 3x joint income.
I suppose it does but the published figures have always used one.0 -
It's funny that people keep quoting 3x as long term average when it was only below 3x for a few years in 90s
It's important to note the context of that 3x income though.
In the times you reference it was 3x one income. Indeed, the other income had a specific multiplier on it. Was it 1 or 1.5x?
When you talk about 3x income now, you are talking 3x dual incomes.
Two very different scenarios.0 -
Graham_Devon wrote: »It's important to note the context of that 3x income though.
In the times you reference it was 3x one income. Indeed, the other income had a specific multiplier on it. Was it 1 or 1.5x?
When you talk about 3x income now, you are talking 3x dual incomes.
Two very different scenarios.
The graphs have always shown one average income to average house price so I'm not sure what you are on about.0 -
IveSeenTheLight wrote: »It shows the House Price compared to Average Earnings as being slightly higher than the long term average
However the same data file also shows that the Mortgage Repayments as a percentage of income is below the long term average
Yep/
Average (typical) house price, average (one person) 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 -
HAMISH_MCTAVISH wrote: »Yep/
Average (typical) house price, average (one person) income.
The problem being, that this average one person income now comes out as being £36,504
Thats NOT average income. Indeed. That figure is in the higher rate income tax band ignoring the allowance. That's clearly not average! Even if you include the allowance, it's just 5k off the higher rate tax band.
You can say that the same wage has been used throughout which is true.
But what is also true is that that average wage figure is increasing in the size of it's discrepancy from the median average wage.
Therefore, as the discrepancy grows and grows, it shelters the average house price to average wage multiplier.
Median average wage is 26k. Thats 28% lower than the age figure used by the halifax.
Look back into the 90's and the median average wage was around 10% lower than the one used by the halifax.
The very fact that the average wage the Halifax is using is now in the higher rate tax income band shows up the growing issue at play here. It's not average by any means. It may be using the same dataset, but that dataset has an obvious flaw in it.0 -
Graham_Devon wrote: »The problem being, that this average one person income now comes out as being £36,504
Thats NOT average income. Indeed. That figure is in the higher rate income tax band ignoring the allowance. That's clearly not average! Even if you include the allowance, it's just 5k off the higher rate tax band.
You can say that the same wage has been used throughout which is true.
But what is also true is that that average wage figure is increasing in the size of it's discrepancy from the median average wage.
Therefore, as the discrepancy grows and grows, it shelters the average house price to average wage multiplier.
Median average wage is 26k. Thats 28% lower than the age figure used by the halifax.
Look back into the 90's and the median average wage was around 10% lower than the one used by the halifax.
The very fact that the average wage the Halifax is using is now in the higher rate tax income band shows up the growing issue at play here. It's not average by any means. It may be using the same dataset, but that dataset has an obvious flaw in it.
But the big increase in part time work is pulling the mean down0 -
HAMISH_MCTAVISH wrote: »Yep/
Average (typical) house price, average (one person) income.
But its all pure luck anyway isn't it, just fluctuations in pure luck we see there... isn't it?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 -
Graham_Devon wrote: »The problem being, that this average one person income now comes out as being £36,504
Graham, it's not a problem.
It's the same data-set that has ALWAYS been used.
Here's the link to the ONS
http://www.ons.gov.uk/ons/rel/ashe/annual-survey-of-hours-and-earnings/2012-provisional-results/2012-provisional-table-1.zip
See table 1.7a (Prov - Annual Pay Gross)
The data-set has ALWAYS used the Full Time Male Mean average which according to the link is £36,156.
It may not be to your liking, but the graphs have a CONSISTENCY in the use of the data-set which allows us to compare across the years.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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