"Housing Market Slumps"

ukcarper

westernpromise wrote: »

So the state should build houses and sell them cheap to midwives, paramedics, mental health workers and social workers?

Shouldn't the state actually build starter homes, 2-bedroom flats, houses with gardens that they can buy at different career points?

Should they be forced to sell them back to the state as well when they move?

They could be for rent, it would make it easier to recruit and retain staff.

Windofchange

economic wrote: »

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.

About 4 pages ago:

economic wrote: »

i will get >500k in gift/inheritance. i know many more who will too. either you need to know people who are smarter or wealthier or lucky then maybe someday you will becime financially wealthy if not already?

As for the rest of your gibbering...

You were up in arms a while back at the thought of an average person being able to afford an average property. My point is that you have taken the average person (our nurse) and you have not found the average property. Do you get it now? You have taken an average person and to try and prove a point have found the cheapest possible property, which funnily enough she still can't afford other than with one of great apes imaginary pots of gold. Do you get my argument now? Probably not, you haven't got anything since this thread started - you've infact probably not bothered to read my post but know I am wrong anyway hey?

As for the 60k salary, I am giving you a range. 60k p.a. represents about 25 years of being a nurse (Senior Matron, Band 8b, or director of nursing at a large London hospital), so pretty much 45 years old and above. the starting salary for inner London is around 25k with a few k more for extra shifts etc. You then say they can save for 10 years (takes them to at least 55) and then do what? Get a studio?

When have I said I think the world should be divided equally? It's again a sign of ignorance in that instead of formulating an argument you have to resort to name calling and assumptions. People aren't entitled to own a property but myself and many others on this thread would at least like it to be a realistic option.

It is quite topical at the moment within the NHS - we are having to recruit from abroad to London because there are not enough nurses. We are paying locums millions to entice them to the capital. Believe me, things are really bad. And actually homes do exist for nurses - key worker schemes, but there are not enough and they are still not cheap / attractive enough to entice people to move. If you have a shortage of window cleaners in the capital we can live with some dirty windows. What are you going to do about a shortage of medical personnel at 2am when you've perforated your bowel and need emergency care? But hey sod it, why should you care.

Windofchange

In_For_A_Penny wrote: »

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.

Oh here we go, another pointless comment. How is buying somewhere in a reasonable area comparable to buying a Ferrari?

If myself or anyone else here was saying I demand a nurse be able to afford a penthouse in 1 Hyde Park then you would have a point. I am saying I would like a nurse / Mr or Mrs average to be able to afford a Ford Mondeo to use your analogy. Not a bad car, not an exotic car. Not a BMW (i.e. a slightly upmarket 1 bed flat). Just somewhere that is OK.

The debate on market conditions and supply / demand is something for another thread.

Crashy_Time

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.

No, that is the solution, plus higher interest rates, building more property is neither here nor there.

economic

Windofchange wrote: »

About 4 pages ago:



As for the rest of your gibbering...

You were up in arms a while back at the thought of an average person being able to afford an average property. My point is that you have taken the average person (our nurse) and you have not found the average property. Do you get it now? You have taken an average person and to try and prove a point have found the cheapest possible property, which funnily enough she still can't afford other than with one of great apes imaginary pots of gold. Do you get my argument now? Probably not, you haven't got anything since this thread started - you've infact probably not bothered to read my post but know I am wrong anyway hey?

As for the 60k salary, I am giving you a range. 60k p.a. represents about 25 years of being a nurse (Senior Matron, Band 8b, or director of nursing at a large London hospital), so pretty much 45 years old and above. the starting salary for inner London is around 25k with a few k more for extra shifts etc. You then say they can save for 10 years (takes them to at least 55) and then do what? Get a studio?

When have I said I think the world should be divided equally? It's again a sign of ignorance in that instead of formulating an argument you have to resort to name calling and assumptions. People aren't entitled to own a property but myself and many others on this thread would at least like it to be a realistic option.

It is quite topical at the moment within the NHS - we are having to recruit from abroad to London because there are not enough nurses. We are paying locums millions to entice them to the capital. Believe me, things are really bad. And actually homes do exist for nurses - key worker schemes, but there are not enough and they are still not cheap / attractive enough to entice people to move. If you have a shortage of window cleaners in the capital we can live with some dirty windows. What are you going to do about a shortage of medical personnel at 2am when you've perforated your bowel and need emergency care? But hey sod it, why should you care.

i read all this gibberish. the only thing i got out of it is if you really want a good property in a reasonable area, then just dont be a nurse. if your life passion is to be a nurse then you will have to sacrifice career for property or vice versa. whilst i feel some sorrow, it is what it is. maybe you have the time to complain about it but i dont and i just feel its another issue along with many others in this world. but there are also a lot of positives too. always has been and always will be.

Crashy_Time

westernpromise wrote: »

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?

My advice to you is to work out the difference between renting property, and renting money

Crashy_Time

economic wrote: »

i read all this gibberish. the only thing i got out of it is if you really want a good property in a reasonable area, then just dont be a nurse. if your life passion is to be a nurse then you will have to sacrifice career for property or vice versa. whilst i feel some sorrow, it is what it is. maybe you have the time to complain about it but i dont and i just feel its another issue along with many others in this world. but there are also a lot of positives too. always has been and always will be.

Nah, it`s just a credit bubble :rotfl:nothing more nothing less, you got out at the right time but then you jumped back in again! Stockholm Syndrome at it`s finest!

westernpromise

ukcarper wrote: »

They could be for rent, it would make it easier to recruit and retain staff.

But the claim was that there should be places they can buy.

westernpromise

Crashy_Time wrote: »

My advice to you is to work out the difference between renting property, and renting money

Why would I seek your advice? You have a BCR of 130%.

Windofchange

economic wrote: »

i read all this gibberish. the only thing i got out of it is if you really want a good property in a reasonable area, then just dont be a nurse. if your life passion is to be a nurse then you will have to sacrifice career for property or vice versa. whilst i feel some sorrow, it is what it is. maybe you have the time to complain about it but i dont and i just feel its another issue along with many others in this world. but there are also a lot of positives too. always has been and always will be.

And this pretty much sums up why you are incapable of having an educated debate with. Oscar Wilde said that imitation is the sincerest form of flattery. You're too lazy to read back 4 pages to see that you did actually say what I have pulled you up on, let alone formulate any sort of coherent argument / response to this.

Let me take you a page back this time:

economic wrote: »

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).

You have no sympathy at all, let alone grasp of the English language, and you're trying to save a bit of face now by saying oh but I do feel a little bit bad. Can everyone be an investment banker? Can everyone be Richard Branson? No.

So, let's take your side. What happens if property goes up forever more? No blips, no crash, no decrease, just forever inflation. To take my NHS example, what happens if wages increase by 1% per year - this is what our current contract gives us.

Newly qualified nurse in London - £21,692 + 20% London weighting = starting salary of £26,030.40p

Average asking price in London at the time of the Lehman Brothers collapse in 2008 £359,459.

http://www.rightmove.co.uk/viz/london-trendometer/

Average asking price in London today £624,953

Increase 73.85% over that point in time.

So, let's go 9 years down the line with these sums to 2026.

Nurse has seen an increase of 1% per annum on £26,030. This means she gets an annual pay rise of £260. 9 x £260 = £2342. Basic salary is £26,030 + £2342 = £28,372.

Average London property asking price = increase of 73.85% of £624,953 which is £1,081,168

The average asking price of a London property is now 38.11 times the nurse's salary. Now, the nurse's salary isn't quite an average London salary I will concede, but it isn't a million miles off. You're £175,000 room (sorry, studio) in a !!!! hole in West Croydon is now worth £302,750. This is now 10.67 times this nurses salary, let alone the zero hours workers, street cleaners, McDonalds workers etc etc for whom a salary approaching 30k per year would be a kings ransom!

Who on here in their right mind thinks that the property growth we have experienced is sustainable, particularly in London / South East?

I'm not complaining. I am more than happy with my lot in life. As I have stated a number of times, I am a mortgage payer. I would quite happily see a crash in house prices both for personal and philanthropic reasons. Thing is, I see this for what it is, which people like you don't. Pots of gold, unlimited wealth, 500k inheritances. For a small proportion of this country (yourself included it would appear) this is the reality. For a very very very large amount of people however it is not.

As I said in another thread, the only people left in London at this rate will be the very poor cleaning the pristine hallways of the very rich. I fail to see any positives out of the above scenario, other than perhaps for you and a few others who now own a property worth £600k x 73.85% = £1,038,000. Let's hope you never need a nurse.