Earning the National Living Wage? Then you can’t afford a starter home in 98% of LAs

Rich2808

People on the equivalent of the living wage could afford property in 1996 - and then we elected a Labour government which saw prices quadruple and buy to let rise ten fold.

There clearly is a problem - but Labour isn't the answer.

cells

Rich2808 wrote: »

People on the equivalent of the living wage could afford property in 1996 - and then we elected a Labour government which saw prices quadruple and buy to let rise ten fold.

There clearly is a problem - but Labour isn't the answer.

not in Stoke-On-Trent, prices are lower now than 25 years ago in real terms. and its not alone

Average terrace in hartlepool costs £35,281 in Nov 2015 (most recent land registry data) and the price in Jan 1995 cost £29,657. Nominal Prices up a whole 19% in 21 years.....

MPD

cells wrote: »

Average terrace in hartlepool costs £35,281 in Nov 2015 (most recent land registry data) and the price in Jan 1995 cost £29,657. Nominal Prices up a whole 19% in 21 years.....

Have you been to Hartlepool? A relative of mine used to live there. I wouldn't live there even if you paid me £35,281 pa.

Perfect spot for a few nuclear power stations though.

kinger101

MPD wrote: »

Have you been to Hartlepool? A relative of mine used to live there. I wouldn't live there even if you paid me £35,281 pa.

ditto Stoke-on-Trent.

stator

Thrugelmir wrote: »

Why is absurd. When did it become a right for property to be affordable to all to purchase?

Our Dear Leader seems to think everyone should buy, that's why he's scrapping social housing and replacing it with private housing.

Blacklight

I think it's amazing that a single person on rock bottom wage can purchase a property in the 15th most densely populated country on the planet, with the 5th largest economy.

Still doesn't stop some whinging that they can't start off halfway up the ladder though.

regprentice

Op said living wage. Not minimum wage.

Depends on the definition of living wage...currently £8.50 ish for non london areas. However govt has 'stolen' the term living wage to describe a 50p top up to the national minimum wage they will be making for over 25s this year.

Generali

regprentice wrote: »

Op said living wage. Not minimum wage.

Depends on the definition of living wage...currently £8.50 ish for non london areas. However govt has 'stolen' the term living wage to describe a 50p top up to the national minimum wage they will be making for over 25s this year.

Companies and taxpayers will be making the top up, the Government is forcing them to do it.

The Government doesn't have any money beyond what it makes from seigniorage.

antrobus

regprentice wrote: »

Op said living wage. Not minimum wage.

Depends on the definition of living wage...currently £8.50 ish for non london areas. However govt has 'stolen' the term living wage to describe a 50p top up to the national minimum wage they will be making for over 25s this year.

OP said "National Lving Wage", which is the new name for the 'minimum wage' starting in April, and is clearly defined in legislation, thus there is no 'depends' about it.

burlington6

cepheus wrote: »

As Cat Smith MP (outnumbered 4 to 1 on BBC Question Time by right wing ideologues) said last night:



With this absurd situation, surely wages must rise or house prices must drop. Which is it to be?

What would Cat Smith know of earning a wage?

She's never had a job!