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"Housing Market Slumps"
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You can try to muddle up the information as much as you like the 2013/14 data is available for all to see here. 2016/17 will be higher as asset prices are higher and savings bigger
Except they are not.
http://www.telegraph.co.uk/news/2016/03/31/ticking-time-bomb-as-household-saving-slumps-to-record-low/
What do you suppose emergency interest rates have done to people's appetites for savings this past decade or so? Shall we add another notch to your bedpost full of nonsense? I think we should!The net figure is £77.1 billion that year given out in 267,000 inheritances which will directly benefit 2.4x as many persons by way of a inherited pot of gold by your own assumptions and theory and even more than that indirectly.
So if you are going to go back to multiplying again then you need to also divide the value of these inheritances by 2.4 :wall: So, as has also been suggested by others, the actual value of the estates inherited is drastically reduced. Your 100k estate is now worth around 40k and that is before taxes etc etc.
Another post, another load of utter nonsense. Just give up. It's getting boring.0 -
Windofchange wrote: »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.
so are you saying not only should a nurse be able to afford a 1 bed flat in london but it has to be a really nice area? whats wrong with croydon?0 -
Why shouldn't a nurse be able to buy a 1 bedroom flat in a reasonable area?so are you saying not only should a nurse be able to afford a 1 bed flat in london but it has to be a really nice area? whats wrong with croydon?
That studio would require the nurse to get a 6x salary mortgage with 10% deposit would they get it?0 -
Why shouldn't a nurse be able to buy a 1 bedroom flat in a reasonable area?
she can buy it if she can afford to. if she cant afford to then she will have to compromise. or rent and save up until she can afford a 1 bed in a reasonable area. or better still retrain to do a higher paying job and then buy.
from what you and windofchange are saying everyone is entitled to a property in a reasonable area at least. so why dont we just socliase all housing and hand them out for free?0 -
Yes I know that is how it is now and has been for sometime, but that doesn't mean it isn't a reasonable if unrealistic aimshe can buy it if she can afford to. if she cant afford to then she will have to compromise. or rent and save up until she can afford a 1 bed in a reasonable area. or better still retrain to do a higher paying job and then buy.
from what you and windofchange are saying everyone is entitled to a property in a reasonable area at least. so why dont we just socliase all housing and hand them out for free?
I'm not saying that but I don't see it as unreasoned that people who work hard and do a demanding and neccasary job should be able to buy a home.0 -
Yes I know that is how it is now and has been for sometime, but that doesn't mean it isn't a reasonable if unrealistic aim
I'm not saying that but I don't see it as unreasoned that people who work hard and do a demanding and neccasary job should be able to buy a home.
Life is simply not fair. The nurse knew what she was getting f herself into and salary prospects so she could have chosen a more financially lucrative path if she really wanted to buy a one bed in a reasonable area (whatever that even means).0 -
Life is simply not fair. The nurse knew what she was getting f herself into and salary prospects so she could have chosen a more financially lucrative path if she really wanted to buy a one bed in a reasonable area (whatever that even means).
I bet you wouldn't make such a flippant comment to a nurse at the end of a long shift if it was you or one of your loved ones on a high dependency ward."Real knowledge is to know the extent of one's ignorance" - Confucius0 -
so are you saying not only should a nurse be able to afford a 1 bed flat in london but it has to be a really nice area? whats wrong with croydon?
No. I'm not. I'm saying as per your original question an average area. I lived in Croydon for 25 years and know the area inside and out. There are nice parts, and overall Croydon isn't terrible, but that area around west croydon and running down London road towards the hospital and Thornton Heath is not somewhere I would describe as average. It is a hole.
You really are quite a nasty person aren't you? Firstly your comments about 500k inheritances being 10 a penny in your social circle and that I will be forever poor unless I get a better group of acquaintances. Now as far as you're concerned, key workers can do one in terms of home ownership. Thank god there are people who want to be nurses. I work with a large number of them and they are the most incredible and kind hearted people you could ever meet. They are earning with London weighting between 25 - 60k per year depending on seniority, so are not exactly doing badly out of life. I'm not saying they should be able to buy a Kensington penthouse at all, but why not a small 1 bed flat somewhere that doesn't need a stab proof vest to walk home at night?0 -
So everybody takes your attitude and nobody gets cared for when they are ill. Society needs people doing all sorts of jobs some are well paid some are not, if everybody earns more the same amount of people would still not be able to buy as property is rationed by price, the only way more people could buy is if there was more property.Life is simply not fair. The nurse knew what she was getting f herself into and salary prospects so she could have chosen a more financially lucrative path if she really wanted to buy a one bed in a reasonable area (whatever that even means).0 -
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