Debate House Prices


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"Housing Market Slumps"

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  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 3 March 2017 at 9:54AM
    No reason a nurse or anyone else can't buy in a reasonable area provided they can afford it.

    The same goes for a Ferrari.

    Things cost money and the price is determined by market conditions.
    Of course if a nurse earns £75k instead of £25k she would be able to buy but they don't so can't afford to buy, which is the case in many areas they can't because of market conditions.

    Have you read this thread the argument is about whether trying to get to a position where property is affordable to people on average earnings is reasonable.
  • economic
    economic Posts: 3,002 Forumite
    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?

    when did i say that about 500k being common and you should have better friends? please dont make stuff up.

    i provided an example of a property that a nurse may be able to afford. and now you are saying it has to be a better area and a nicer flat? how can you even think that like that? and now you are saying they can earn upto 60k. thats not so bad now is it? with a 60k salary that should be enough to buy somewhere in 10 or so years as long as the nurse saves enough. the nurse knew what she was getting herself into in terms of pay. and theres nothing wrong with renting. why are people entitled to own a property??? i just dont get you.

    seriosly its people like you who think the world should be divided equally amongst everyone. it doesnt work. you seem like a pure leftist socliast who would do so much damage if you even had the slightest control in the world.
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    Of course if a nurse earns £75k instead of £25k she would be able to buy but they don't so can't afford to buy, which is the case in many areas they can't because of market conditions.

    Have you read this thread the argument is about whether trying to get to a position where property is affordable to people on average earnings is reasonable.

    as windofchange says a nurse can earn upto 60k in london. not so bad now is it?

    i dont think building more property is the answer. its stamp duty and the btl tax changes that are the problem.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    economic wrote: »
    as windofchange says a nurse can earn upto 60k in london. not so bad now is it?

    i dont think building more property is the answer. its stamp duty and the btl tax changes that are the problem.
    Median earnings for a registered nursein London is £25k 90% percentile. Is £36k.

    Perhaps you can elaborate on your second point.
  • ukcarper wrote: »

    Have you read this thread the argument is about whether trying to get to a position where property is affordable to people on average earnings is reasonable.

    I have - and then it descends into some sort of nonsensical moral argument.

    I don't see why there should be any impetus to build affordable housing in upmarket areas. They are upmarket for a reason.

    Plenty of places I can't afford to live, I don't consider I have some divine right to live there just because I am a "good" person or do an "important job".
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    Median earnings for a registered nursein London is £25k 90% percentile. Is £36k.

    Perhaps you can elaborate on your second point.

    stamp duty has made movign costly to move. so people stay put meaning less supply throughout the ladder and prices remain high.

    i find it very very stupid arguing about how its unfair a nurse cant afford to buy. it really is silly. look - the nurse knew the salary prospects of being a nurse. london property has alwas been expensive in recent times. so she is not getting any sympathies from me. she is not entitled to own a property in a reasonable area. she needs to either save hard and make compromises on where to buy or retrain into another area with better pay prospects. or she can just be happy renting, which there is nothing wrong with. why dont you understand this????
  • I have - and then it descends into some sort of nonsensical moral argument.

    I don't see why there should be any impetus to build affordable housing in upmarket areas. They are upmarket for a reason.

    Plenty of places I can't afford to live, I don't consider I have some divine right to live there just because I am a "good" person or do an "important job".

    Its funny isn't it. I consider myself to be left leaning, but I get put off when people start demanding equality without any understanding of what equality actually is.

    They seem to think equality means take from one social group and give to the other, when in fact is should mean equal opportunities.

    Even living oop North there are areas that I couldn't afford to buy in, but that's life. I can't afford a mclaren either so I compromised and bought what I could afford.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I have - and then it descends into some sort of nonsensical moral argument.

    I don't see why there should be any impetus to build affordable housing in upmarket areas. They are upmarket for a reason.

    Plenty of places I can't afford to live, I don't consider I have some divine right to live there just because I am a "good" person or do an "important job".
    Nobody has a divine right to live anywhere, but to function society need people of all levels, I don't think it is unreasonable for those people to be able to live in reasonable accomadation. I don't think anybody is saying we should be building affordable houseing in Mayfair or that getting property prices to a level where it is affordable to people on median earnings is achievable, just that it is desirable.
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    Nobody has a divine right to live anywhere, but to function society need people of all levels, I don't think it is unreasonable for those people to be able to live in reasonable accomadation. I don't think anybody is saying we should be building affordable houseing in Mayfair or that getting property prices to a level where it is affordable to people on median earnings is achievable, just that it is desirable.

    the nurse can live in a reasonable area in london, she can rent!!
  • westernpromise
    westernpromise Posts: 4,833 Forumite
    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.

    You borrow property off a landlord, you failed to buy for cash at the bottom of a slump, are too old now ever to own and will die poor leaving nothing. What's your advice worth?
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