"Housing Market Slumps"

economic

Windofchange wrote: »

Are you serious? Why wouldn't we want Mr or Mrs Average in London earning (Late 2015 stats) £48,023 a year to be able to afford an average London flat of now £484,716? Why wouldn't you want a worker outside of London earning on average £26 ish grand a year to be able to buy the average property of wherever else in the country?

https://www.gov.uk/government/news/uk-house-price-index-hpi-for-july-2016

You don't think that we should strive towards nurses, doctors, accountants, teachers, managers etc etc being able to afford somewhere to live? These people aren't smart or hard working? I love also how you have thrown lucky in there as in if you're not lucky then screw you. Special.

I reckon you've spent so much time with your sloaney friends talking about novel ways to spend your million pound inheritances that you've lost touch of all reality!

so whats your solution then/? because i can tell you whatever solution you have in mind will hurt someone else.

doctors, accountants, managers, nurses can all afford an average or if not a lower then average property if they save enough. it may take longer but it cn be done. and thats if they are single. when they buy with partner then it should not be a problem. the fault lies with the person who can not afford the property, no one else.

economic

also whats wrong with renting? if they cant afford it, then rent. no one is entitled to own a property. you are very deluded Windofchange if you think thats true.

seriously i would really start to think more before posting garbage.

GreatApe

economic wrote: »

so whats your solution then/? because i can tell you whatever solution you have in mind will hurt someone else.

doctors, accountants, managers, nurses can all afford an average or if not a lower then average property if they save enough. it may take longer but it cn be done. and thats if they are single. when they buy with partner then it should not be a problem. the fault lies with the person who can not afford the property, no one else.

the problem for him is that the average person does buy the average home only said average person earns or has a lot more than he does

If we take an accountant on £45k a year. In stoke he is King and in Kensington he is a pauper. The accountant should not cry whats wrong with the system why cant important respected people like teachers and accountants afford the average house in Kensington. He should see that he is less able than the average kensington buyer and accept he can not compete with them so he needs to up-skill or do something which will enable him to compete like marry into wealth

Now Kensington and stoke are the two extremes but it holds true if you replace Kensington wit London and Stoke with the Midlands.

economic

GreatApe wrote: »

the problem for him is that the average person does buy the average home only said average person earns or has a lot more than he does

If we take an accountant on £45k a year. In stoke he is King and in Kensington he is a pauper. The accountant should not cry whats wrong with the system why cant important respected people like teachers and accountants afford the average house in Kensington. He should see that he is less able than the average kensington buyer and accept he can not compete with them so he needs to up-skill or do something which will enable him to compete like marry into wealth

Now Kensington and stoke are the two extremes but it holds true if you replace Kensington wit London and Stoke with the Midlands.

exactly. its scary to think there are more people like Windofchange who think like him/her. completely deluded and simply does not think or does not have the ability to.

GreatApe

economic wrote: »

also whats wrong with renting? if they cant afford it, then rent. no one is entitled to own a property. you are very deluded Windofchange if you think thats true.

seriously i would really start to think more before posting garbage.

If someone can afford the rent they can afford the mortgage to buy, there are some problems in that mortgage regulations exclude some people from buying even though its the MSE long term better aim. A return of self cert would fix that problem and it is a real problem

The reality is that if you are below average earnings/wealth for a given area you wont be able to buy the average house there so you will likely have to rent a portion of a house with friends since you can not buy a portion of a house.

Personally if I were lowly paid relative to the area and had no money in the form of inheritances/gifts I would take a hard look at the situation and if I could not compete in London and earn good money there I would move to a pond where I was not the smallest fry

GreatApe

economic wrote: »

exactly. its scary to think there are more people like Windofchange who think like him/her. completely deluded and simply does not think or does not have the ability to.

The problem is they see it as an emotional issue, sometimes I re-read my posts and it sounds like I am perhaps insulting the individual for being poor without realizing it. That is not the case I am simply highlighting an economic reality in that there are richer people and these rich people will outbid you. This applies to most of us I can not afford to live in Z1 or Z2 in a house I would like but I understand the reasons is because people richer than I want to live there not because of some multiple conspiracies or crazy ideas

Since we operate in a free market system this is the norm, the only alternative is some sort of lotto or allocation by the state and that would be worse and lead to mass poverty.

If he and the other crash wishers want a better quality house he needs to pray for one of two things, either that many more high quality homes are built (lots more supply) or that his competition suffers misfortune while he does not (recession).

chucknorris

GreatApe wrote: »

If someone can afford the rent they can afford the mortgage to buy, there are some problems in that mortgage regulations exclude some people from buying even though its the MSE long term better aim. A return of self cert would fix that problem and it is a real problem

The reality is that if you are below average earnings/wealth for a given area you wont be able to buy the average house there so you will likely have to rent a portion of a house with friends since you can not buy a portion of a house.

Personally if I were lowly paid relative to the area and had no money in the form of inheritances/gifts I would take a hard look at the situation and if I could not compete in London and earn good money there I would move to a pond where I was not the smallest fry

I would move tomorrow to another area where property was cheaper (or a country with a better climate), but my wife has family ties in London (an elderly frail father and a mentally ill brother) who she needs to help care for on a regular basis. It was only a couple of days ago that she said to me that she would move to California with me when her brother passes away, but I pointed out that as he is 14 years younger than me, that just isn't going to happen.

GreatApe

chucknorris wrote: »

I would move tomorrow to another area where property was cheaper (or a country with a better climate), but my wife has family ties in London (an elderly frail father and a mentally ill brother) who she needs to help care for on a regular basis. It was only a couple of days ago that she said to me that she would move to California with me when her brother passes away, but I pointed out that as he is 14 years younger than me, that just isn't going to happen.

Have you considered a good quality care home.
They have bad public imagines but some of them really are good quality.

chucknorris

GreatApe wrote: »

Have you considered a good quality care home.
They have bad public imagines but some of them really are good quality.

He is in hospital now, and I said to my wife that we really need to try and encourage him to reconsider, up to now he has been very resistant about moving into a care home. It is difficult because he wants to be independent, but I think that he has now reached the stage where he needs care (actually I think that stage was about 2 years ago), not just for comfort, but because I think being alone is a serious risk for him.

GreatApe

chucknorris wrote: »

He is in hospital now, and I said to my wife that we really need to try and encourage him to reconsider, up to now he has been very resistant about moving into a care home. It is difficult because he wants to be independent, but I think that he has now reached the stage where he needs care (actually I think that stage was about 2 years ago), not just for comfort, but because I think being alone is a serious risk for him.

He may be worried about the cost more than anything else, if this is not an issue you and your wife should point out that it would not be an issue.