Panorama tonight: The Great House Price Bubble?

Road_Hog

kabayiri wrote: »

I remember feeling like a 2nd class citizen when renting way back when, and I don't think much has changed. This is a shame, when we know a lot more people will have to rent much longer.

The supposedly caring party NeoLabour had 13 years in power. I wonder how many council houses they built. That is the problem, we need more council houses for those that cannot afford to buy.

As a LL even I see private letting as a short term solution, it is not meant to be long term. Non of the governments seem to want to build council houses, which would give people security and affordability (perhaps allowing them to save up for a deposit).

chucky

grizzly1911 wrote: »

People often did it on one relatively small wage. Just shows how we have progressed - not.

The guy had to do 3 jobs and the wife working to buy a house, I hope you're not trying to tell me that was normal back then?

Because if you are it contradicts a lot of what people say that it was easy to buy a house in the past.

ukcarper

You only have to look at the average house price to earnings ratios to see that prices are cyclical and have almost reached what they are now when the lower earning multiplies applied.

I think it has not been possible to buy on single low income in London and the south east.

ukcarper

JencParker wrote: »

And only 50% of the second wage was counted when applying for a mortgage.
x3 main wage and 50% of second wage - does that still happen or are both wages considered equally?

I borrowed more than that in the 70s

MFW_ASAP

Pobby wrote: »

Just shows the overall insanity in my mind.

Indeed. :cool:

grizzly1911

chucky wrote: »

The guy had to do 3 jobs and the wife working to buy a house, I hope you're not trying to tell me that was normal back then?

Because if you are it contradicts a lot of what people say that it was easy to buy a house in the past.

I was not referring to pobby.

It wasn't easy but expectations were different. There was less to want.

It was still a massive sacrifice but there was less baggage carried.

MFW_ASAP

grizzly1911 wrote: »

I was not referring to pobby.

It wasn't easy but expectations were different. There was less to want.

It was still a massive sacrifice but there was less baggage carried.

So you're saying that it was just as hard in the past to buy a house?

I think you're agreeing with chucky and the stance of many on here.

ukcarper

Is the problem only confined to the southern half of country.
With average price £101k in North East , £110k in North West and £124k/£130k in East and West Midlands. It should still be possible to buy.

MFW_ASAP

ukcarper wrote: »

Is the problem only confined to the southern half of country.
With average price £101k in North East , £110k in North West and £124k/£130k in East and West Midlands. It should still be possible to buy.

And Southwest. What I find interesting is that very few of the usual suspects who moan about high house prices actually live in the South East and are therefore not subject to these said high house prices. Those people on here who do live in the south east are too busy enjoying full employment to care.

LesU

I wonder if some reluctance by builders to get on with the job comes from the recent, almost secret it seems, introduction by government of the CIL.
Here is a small clip from the official government description.

What is the Community Infrastructure Levy?

The Community Infrastructure Levy (the levy) came into force in April 2010. It allows local authorities in England and Wales to raise funds from developers undertaking new building projects in their area. The money can be used to fund a wide range of infrastructure that is needed as a result of development.
This includes new or safer road schemes, flood defences, schools, hospitals and other health and social care facilities, park improvements, green spaces and leisure centres

If you had to pay for the community infrastructure, as well as the houses, I'm sure you'd think twice about going in feet first to test the rising market by building 100's of houses + schools, community centres, play parks etc etc.
.