Crash postponed?

Jennifer_Jane

Sorry, but WHAT housing ladder.

If things continue the way they are, the house you buy now is the one you're going to stay in.

Without a dramatic change of circumstances (for the better) most people will not be able to move to a more expensive place.[/QUOTE]

OK - if you don't like the word 'ladder', fine, but my point was that not all parts of the UK are massively overpriced. People are talking about FTB not being able to afford a house. But surely that really only applies to London and the South East. But generalisations are made that this is everywhere in the UK. Stoke is 1 1/2 hours from London by train and cheap! I'm obviously not suggesting that people commute from Stoke but it is in the centre of England and very affordable! And it has a cultural quarter :rotfl:(surprisingly perhaps). Went to the opera there this week.

Generali

Jennifer_Jane wrote: »

Stoke is 1 1/2 hours from London by train and cheap! I'm obviously not suggesting that people commute from Stoke but it is in the centre of England and very affordable! And it has a cultural quarter :rotfl:(surprisingly perhaps). Went to the opera there this week.

Hmm, so 90 mins on the train. Let's be generous and say 12 mins either end on top plus hanging around on the platform so 4 hours a day travelling. Not that attractive at the end of a 50-60 hour week. Perfectly possible for a weekly commute but I reckon I could do better for the same money in France if that was what I was after.

I put Stoke on Trent cultural centre into Google and it returned this. Give me the Royal Opera, ICA, Tate, ENO, Globe and so on any time.

RHemmings

Generali wrote: »

Perhaps I'm being slow.

Gross income = £50k

Borrow £50kx10 = £500k

£500kx6% £30k

£30k/£50k = 0.6 (or 60%)

My post was a joke. The same statistic was posted on another forum that I know that you read.

Generali

RHemmings wrote: »

My post was a joke. The same statistic was posted on another forum that I know that you read.

So I was right, I am being slow. I usual am. (Either right or slow, often both)

RHemmings

Generali wrote: »

Hmm, so 90 mins on the train. Let's be generous and say 12 mins either end on top plus hanging around on the platform so 4 hours a day travelling. Not that attractive at the end of a 50-60 hour week. Perfectly possible for a weekly commute but I reckon I could do better for the same money in France if that was what I was after.

I put Stoke on Trent cultural centre into Google and it returned this. Give me the Royal Opera, ICA, Tate, ENO, Globe and so on any time.

It's not just the extra time that's important. I looked up how much it would cost to commute from Leicester to London by train. The monthly ticket would cost about £650 or something. Per person so that's £1300 per month for a working couple. Might have changed now. That's a lot of money, and prices need to be a lot cheaper before you're financially better off moving that far away. And then you don't only have to worry about interest rate rises, but train fare increases as well.

Add the additional commuting time into the equation, and moving so far out doesn't look to be such a good deal.

A long time ago I read an article about firefighters. They said that when they had a convention they could tell who lived in London and the South East and who lived further north (or elsewhere). The London/SE dwellers had old cheap cars, the firefighters in other areas had flash new ones.

Gold_Shogun

Generali wrote: »

House prices gonna to rise - they're a blood sucking Rackmanite Landlord with a Vested Interest..

OI !! ... Leave me out of it, Squire !! :rolleyes:

Generali wrote: »

House prices gonna fall - they a green eyed ne'er do well slacker that wants to buy YOUR HOUSE for THREE QUID and are trying to talk the market down as they have a Vested Interest.

OI, OI !!! ... I TOLD you to leave me out of it, Squire ... You're Cruisin' now, mate ! :rolleyes:

I'm a middle-of-the-road kind of guy ... I plan on making money in the long term whichever way things go. :beer:

Generali

Gold_Shogun wrote: »

I'm a middle-of-the-road kind of guy ... I plan on making money in the long term whichever way things go. :beer:

Make money either way? You must be a banker. Or a bookmaker.

dannyboycey

The crash is already underway. Check out the land registry figures for last month. Next months will be even more revealing. Falls in many areas already and a levelling off in others.

That 10x salary report was very poor journalism. The BBC changes their stance from day to day. The rest of the media is not much better - one day last week, the daily Expres and the Mail both had opposing headlines on the front pages about 'booming house prices' and 'falling house prices'. An absolute joke.

hankfully Evan Davis is giving the voice of reason at the moment.

Gold_Shogun

Generali wrote: »

Make money either way? You must be a banker. Or a bookmaker.

People have been telling me I'm a Total Banker (or something like that ) for decades

Woby_Tide

dannyboycey wrote: »

The crash is already underway. Check out the land registry figures for last month. Next months will be even more revealing. Falls in many areas already and a levelling off in others..

erm page 2 of the land registry latest release

The data for this month
continues to show one of the
highest annual increases in
almost two years. A year ago, in
April 2006, the annual price
change was 4.1 per cent, less
than half the 9.1 per cent annual
price change in April 2007