C4 Dispatches - The British Property Boom

ukcarper

TickersPlaysPop wrote: »

I've posted about my background extensively before .... I'm 38 BSc development scientist by trade musician by night, owner occupier in kent and still on a mortgage but a low loan to value compared to most my age.

Wage stats need to be treated with caution, they need to be looked at regionally, and also you need to know the distribution of salaries across the range and whether median is a better figure rather than mean. Also, the age and wage is relevant for our discussion. So I doubt whether 2004 is the same as now considering all of these factors.

Just had a look at ONS figures for full time


2004 median £22,056, 10% percentile £11,930
2013 median £27,011, 10% percentile £14,666

So as you can see wages quite a bit higher even for lowest 10%.

Cornucopia

TickersPlaysPop wrote: »

Thank you for answering.... it is not BTL'ers themselves that are under discussion from me it is the rise of this type of housing... It is the system not the individuals involved...

I'm not sure it's a particularly useful distinction, and it's certainly not one shared by other anti- posters.

... but the discussion is about whether that is a healthy system for our country.

The problem that you have is that it's the default for our country to have a mix of OO, BTL/Private LL and Social Housing. I've not seen a cogent argument for walking away from any of those options, merely incoherent whinging about the costs and proportions.

Please can you clarify what you mean by "what kind of housing to chose"?

There is a market out there. You cannot buy Buckingham Palace for £50k, and you cannot rent it for £50/week.

Personally, I'm not interested in paying £400k for a 2-bed house in Walthamstow. But as long as that house has a queue of interested parties 50 or 100 long, someone will. That is a market.

At the other end, there is a market for properties you can pick up for £15k-20k.

There are choices. And unless you've exhausted all of those choices, and a few "thinking outside the box" options, there is no justification to claim to be priced out.

Even a couple of pages in, we have yet to have any cogent argument as to why BTL is even an issue in that debate...

... still waiting.

ukcarper

Crashy_Time wrote: »

Learning to spell might lend some credibility to your ramblings, but then again, maybe not.....:money:


If you meant STATS then I would take much of the nonsense trotted out on here with a large pinch of salt.

I don't think there is anything that could add credibility to your posts.

TickersPlaysPop

ukcarper wrote: »

Just had a look at ONS figures for full time

2004 median £22,056, 10% percentile £11,930
2013 median £27,011, 10% percentile £14,666

So as you can see wages quite a bit higher even for lowest 10%.

Thanks for looking and letting us know the figures. But as I said to have a productive discussion about it we would need to split the data into regions of the country for wages and properties. Also, real terms in the pocket money after all living costs... I.e. The cost of living crisis that Labour keep banging on about.... energy, food, council tax, clothes etc...

CLAPTON

TickersPlaysPop wrote: »

Thanks for looking and letting us know the figures. But as I said to have a productive discussion about it we would need to split the data into regions of the country for wages and properties. Also, real terms in the pocket money after all living costs... I.e. The cost of living crisis that Labour keep banging on about.... energy, food, council tax, clothes etc...

presumably you will be providing that information as you think it so essential for a productive discussion


just like you haven't (to date) provided that equally essential data for a productive discussion about new builds and percentage of landlord purchases.

TickersPlaysPop

Cornucopia wrote: »

Personally, I'm not interested in paying £400k for a 2-bed house in Walthamstow. But as long as that house has a queue of interested parties 50 or 100 long, someone will. That is a market.

At the other end, there is a market for properties you can pick up for £15k-20k.

There are choices. And unless you've exhausted all of those choices, and a few "thinking outside the box" options, there is no justification to claim to be priced out.

Even a couple of pages in, we have yet to have any cogent argument as to why BTL is even an issue in that debate...

... still waiting.

I see the current situation with BTL as a symptom of the broken housing market. We need to consider what has been happening over the past 10-15 yrs, not just look at what is happening today.

We have reached a crazy situation with housing inflated, properties are in short supply, and when up for sale potential owner occupiers are competing against BTL'ers

We need more houses being built, for renters and for owner occupiers....

We need to put measures in place to stop destructively high inflation.... so why have a system where there is high demand to allow potential owner occupiers to compete with BTL'ers?

Many things need to be fixed and many things need to be done at once to slowly move the housing market into a better situation that is better for all. We cannot have a system where a generation is locked out of buying.

ukcarper

TickersPlaysPop wrote: »

Thanks for looking and letting us know the figures. But as I said to have a productive discussion about it we would need to split the data into regions of the country for wages and properties. Also, real terms in the pocket money after all living costs... I.e. The cost of living crisis that Labour keep banging on about.... energy, food, council tax, clothes etc...

But the ons figure for earnings and the land registry figures for house prices show that house prices are really only a problem in London and to a lesser extent the south east. As I have said young people face many problems and in my opinion the lack of good jobs with good prospects is the major one.

sharnad

antrobus wrote: »

Public sector workers are paid on average 14.5% more than those in the private sector, according to the Office for National Statistics (ONS).

http://www.bbc.co.uk/news/business-26512643

Don't forget a lot earn less than those in similar
jobs in the private sector

antrobus

sharnad wrote: »

Don't forget a lot earn less than those in similar
jobs in the private sector

And yet public sector workers are paid on average 14.5% more than those in the private sector.

antrobus

TickersPlaysPop wrote: »

Thanks for looking and letting us know the figures. But as I said to have a productive discussion about it we would need to split the data into regions of the country for wages and properties. ..

That data is available, you know.

TickersPlaysPop wrote: »

...Also, real terms in the pocket money after all living costs... I.e. The cost of living crisis that Labour keep banging on about.... energy, food, council tax, clothes etc...

Shop prices fell for the 18th consecutive month in October, according to the British Retail Consortium

http://www.telegraph.co.uk/finance/economics/11208299/Fall-in-fresh-food-prices-fuels-high-street-deflation.html