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Debate House Prices
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Average house prices nearly 7x average earnings
Comments
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I suppose it depends where you look average house price 1997 (Nationwide) £55k to £62k average earnings ONS £16.3k = 3.4x to 3.8x.
Now £172k and £26.6k = 6.4x
You should also bear in mine that 1997 in relation to earnings house prices were at the lowest they have been since at least 1950.
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Egg and chips is a luxury, try beans on toast0
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For the average price of a house in London, you could buy 200,000 litres of unleaded petrol.
With 200,000 litres of petrol, I could drive 1.32 million miles.
If I drove those miles at an average 70 mph, it would take me 2.15 years.
How much, I wonder, would the same house cost me when I got back?
Also, I wonder how many other ridiculous statistics I could think up in my 2.15 years behind the wheel.
The average person in this country has 1 testicle. The average father in this country has 2 testicles. Hence the average person in UK cannot father a child.0 -
Loughton_Monkey wrote: »For the average price of a house in London, you could buy 200,000 litres of unleaded petrol.
With 200,000 litres of petrol, I could drive 1.32 million miles.
If I drove those miles at an average 70 mph, it would take me 2.15 years.
How much, I wonder, would the same house cost me when I got back?
Also, I wonder how many other ridiculous statistics I could think up in my 2.15 years behind the wheel.
The average person in this country has 1 testicle. The average father in this country has 2 testicles. Hence the average person in UK cannot father a child.
hilarious
average earnings to average wage is somewhat pointless chatter I guess, nothing is going to change so little point in complaining just buy what you can afford or rent its everyones choice0 -
hilarious
average earnings to average wage is somewhat pointless chatter I guess, nothing is going to change so little point in complaining just buy what you can afford or rent its everyones choice
First, we have to realise that the average wage of those who never buy are in that position because of low wages. The average wage of those who can buy a house is consequently significantly larger.
Even then, no average wage earner I know has ever bought a first house at average price. You simply buy the best house you can afford, which is typically a terrace. You then have a highly leveraged investment. A mortgage of 3½ X salary for a house at 4X salary gives average annual growth (at 5%) or about 20% of salary - not a million miles away from the mortgage cost. So it's already 'wiping its face'. Move every 5 years, or so, and it doesn't take long to get into an average house, and then a far superior one.0 -
My parents bought a 3 bed semi, so a so called average house, on one fairly average salary and not in a depressed area...albeit back in 1969!
They've not moved since.
As someone else has said, it is area dependent, the same house nearer London and it would have been too much of a push on their finances (although they did put in an offer on a house in Epping not too much before that - a little bit more than the house they bought but now worth oodles more!)We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.0 -
The house that my parents bought on the single salary of a junior lecturer at a university would certainly not be remotely accessible to a junior lecturer now, or even a couple who were both junior lecturers.
The salary of that kind of position has gone up by a factor of about 40 over the time. The house price has gone up by a factor of 250.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
The house that my parents bought on the single salary of a junior lecturer at a university would certainly not be remotely accessible to a junior lecturer now, or even a couple who were both junior lecturers.
The salary of that kind of position has gone up by a factor of about 40 over the time. The house price has gone up by a factor of 250.
That is certainly not the case everywhere though Lydia.
In the village I grew up in, my parents bought a house in 1967 as a teacher and engineer for the GPO.
They needed dual incomes to buy it, and got a partially gifted deposit as well.
Today, a teacher and engineer for BT could just about still buy the same property, albeit at a slightly higher multiple, but compensated for by lower interest rates.“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 -
UK average is pointless. The north is still cheap, and quite manageable pricewise. I did a quick look, and found a whole load of 2 bed houses for £100k around where I use to live in Lancashire.
Pop those houses down to where I live now and you'd be paying a minimum of £220k for them0
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