Household Income...

michaels

PasturesNew wrote: »

I am richer than 1%.

PN not member of 'the 1%' shock!

Joanthebone

I guessed that 15% would be poorer than me, I was way out, only 5% are poorer! ooh err!

the_flying_pig

my guess was a single percentage point out.

Idiophreak

I guessed 3% would be richer, actually 6% are. Interesting.

Linton wrote: »

Surely "the rich" are by definition those who earn or own significantly more than you do.

I don't think that's really a measure of it.

If someone earns twice as much as you, but their house costs three times as much, and there's a much higher cost of living, are they really that much "richer" than you?

I think quality of life or disposable income are better measures of "richness".

the_flying_pig

HAMISH_MCTAVISH wrote: »

...Pretty sure you're already aware that the average income of all people is not the same thing as the average income of the house buying population, and never has been.

The bottom third or so of earners have rarely been able to afford to buy a house....

yeah, but, i mean, i'm not sure why you're saying that.

if in 2014 the average house looks by historical standards expensive relative to the average wage then chances are that said average house is also by historical standards expensive relative to the income of the seventh decile or whatever.

besides, don't you always at least try to claim that buying is cheaper than renting?

ukcarper

The whole thing is pretty stupid it only takes into account council tax and number of children. Although my income is low especially compared to the results people have posted here I have no mortgage or rent to pay so am obviously better off than someone who does.

Idiophreak

the_flying_pig wrote: »

besides, don't you always at least try to claim that buying is cheaper than renting?

Perhaps he should have put
"The bottom third or so of earners have rarely been able to raise a deposit for a house".

michaels

My position has changed a lot since last night - are the results compared to all the others who have done the test rather than the population at large?

Idiophreak

michaels wrote: »

My position has changed a lot since last night - are the results compared to all the others who have done the test rather than the population at large?

Hmm...mine are still the same.

In_For_A_Penny_2

michaels wrote: »

My position has changed a lot since last night - are the results compared to all the others who have done the test rather than the population at large?

It's based on ONS data so it should be static. You must have in input something differently. A few hundred pounds a month cold make a big difference depending on where you are on the curve.

I'd be more interested to see the distribution of incomes to see how skewed it is but can't seem to find it on the ONS website.