"Housing Market Slumps"

GreatApe

Low paid workers in London like a nurse on £25k will only be able to claim a portion of a home so will have to rent in a shared property.

If a person thinks a nurse in London deserves more then there are only two options. Deport Londoners until such a nurse can buy a 3 bed house for £100k. You are probably looking at the forced deportation of ~2 million Londoners. or building some ~1 million additional homes.

Neither is at all likely so the low paid nurse either needs to accept they can only afford a fraction of a property or move to an area where their income can afford a full property like in the midlands or north.

What are your solutions Mr BagOfWind?

ukcarper

economic wrote: »

and how can we strive towards this happening? and why would we even want it to? we should only care about economic growth and making it a level playing field so those who are poor have a chance to prove themselves so they can become richer. however it should never be done at the expense of the middle class or rich. socialism is dangerous and we should only strive for a fair capitalist economy.

those that are not smart, lucky or hard working and find themselves with little or no money simply do not derserve anything but the most basic housing/food as humanely possoble and nothing else.

I don't see any reason why we shouldn't be aiming to get to a position where a couple on average earnings can buy an average home. I can't see it happening as the only way that I can see it happening is if we build enough houses, which I don't think is going to happen.

ukcarper

GreatApe wrote: »

she could be one of the 70,000+ individuals who gets a pot of gold this year worth >£300k or be married to said person.

Or she could be in one of the 840,000 social homes in London and not worry about buying

Or she could meet you and then acquire a hobby of just complaining that everything is too hard and that its a conspiracy she cannot afford a home in an expensive area all by herself and that the rules of economics must be changed so she can

How do you get 70,000 + individuals getting >£300k

As far as I can find the average at which someone inherits was 53 in 1999 and is increasing.

GreatApe

ukcarper wrote: »

How do you get 70,000 + individuals getting >£300k

As far as I can find the average at which someone inherits was 53 in 1999 and is increasing.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/541407/Table_12-3.pdf

ukcarper

GreatApe wrote: »

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/541407/Table_12-3.pdf

I don't see how you get that from that table.

Windofchange

ukcarper wrote: »

I don't see how you get that from that table.

You won't get a lot of what the great ape and economic spout unfortunately. I have spent a few pages of this thread trying to explain the most basic of concepts to no avail. He'll maybe explain it in a little bit by pulling a number out of his head, maybe doubling it, perhaps tripling it to account for something and then mention the phrase 'pot of gold' before concluding his teachings for the day.

Maybe you can have a go at explaining the concept of an 'estate' to them?

Windofchange

GreatApe wrote: »

Low paid workers in London like a nurse on £25k will only be able to claim a portion of a home so will have to rent in a shared property.

If a person thinks a nurse in London deserves more then there are only two options. Deport Londoners until such a nurse can buy a 3 bed house for £100k. You are probably looking at the forced deportation of ~2 million Londoners. or building some ~1 million additional homes.

Neither is at all likely so the low paid nurse either needs to accept they can only afford a fraction of a property or move to an area where their income can afford a full property like in the midlands or north.

What are your solutions Mr BagOfWind?

The thing is, throughout this I haven't been trying to offer any solutions. I have been trying to guide you towards enlightenment with your reasoning and mathematics. It really is more of a telling indictment on your character that you think people like nurses are below being worthy of a place to call their own. You seem almost pleased that they are too poor to own anywhere and need to just suck it up and share a shoebox with 5 others.

The studio in Croydon you have linked to above is another example of your inability to reason. Your buddy economic was up in arms at the thought that the average person should be able to afford an average property. The nurse is the average person. You have found the average person a studio in a shitheap - i.e. pretty much as low as you can go without sleeping under a bridge.

Find me a 1 bed flat in London for 4 x salary of 25k. Thing is she couldn't even afford the studio on that multiple without a 75k deposit - lucky she is guaranteed that due to there being 500,000 people getting more than 65k according to the school of great ape.

My personal feelings are that London at least has peaked. It is widespread knowledge that prime London is crashing hard at the moment - Kensington, Mayfair etc. Whether this ripples and how far who knows. I know one thing - nothing has ever gone up forever without blips. I agree, property in 50 years time will be worth more than today, but it's what happens in-between that is of interest to me. I speak as a mortgage payer too.

Windofchange

GreatApe wrote: »

What are your solutions Mr BagOfWind?

And thanks for the compliment. You have got slapped so bad on this thread that you need to resort to playground insults to try and claw back some dignity.

Crashy_Time

Windofchange wrote: »

The thing is, throughout this I haven't been trying to offer any solutions. I have been trying to guide you towards enlightenment with your reasoning and mathematics. It really is more of a telling indictment on your character that you think people like nurses are below being worthy of a place to call their own. You seem almost pleased that they are too poor to own anywhere and need to just suck it up and share a shoebox with 5 others.

The studio in Croydon you have linked to above is another example of your inability to reason. Your buddy economic was up in arms at the thought that the average person should be able to afford an average property. The nurse is the average person. You have found the average person a studio in a shitheap - i.e. pretty much as low as you can go without sleeping under a bridge.

Find me a 1 bed flat in London for 4 x salary of 25k. Thing is she couldn't even afford the studio on that multiple without a 75k deposit - lucky she is guaranteed that due to there being 500,000 people getting more than 65k according to the school of great ape.

My personal feelings are that London at least has peaked. It is widespread knowledge that prime London is crashing hard at the moment - Kensington, Mayfair etc. Whether this ripples and how far who knows. I know one thing - nothing has ever gone up forever without blips. I agree, property in 50 years time will be worth more than today, but it's what happens in-between that is of interest to me. I speak as a mortgage payer too.

The thing is, most people don`t actually have much cash, or inherit much cash, it is all tied up in property, paper wealth, so after they have wrangled with their brothers and sisters about how much to sell for and paid the care home fees and found a buyer who has haggled their price way down to the drumbeat of Brexit and Trump they get some money to divvy up that will buy them a holiday......big wow. Great Ape thinks this will save the housing market does he......?:rotfl: Economic actually got his hands on the "Pot of Gold", by selling at absolute peak bubble, so what did he do?..........bought straight back in that`s what... doing his bit to keep the bubble inflated! Go Bubble!

Crashy_Time

Zxcv_Bnm wrote: »

You sound like you're angry that other people are prepared to pay more than you are, and you need them to be stupid or irrational.

Most people "borrow" not "pay" to buy property, well they pay interest to the bank. At record low interest rates borrowing London bubble prices is both stupid AND irrational.