"Housing Market Slumps"

GreatApe

BikingBud wrote: »

And so the deluded love in continues.............
This is not only a London problem:
Wetherby
Bristol
Peterborough - 40% of a property for £72k:eek:
There are more but what is the median salary in those areas? Do you know? Do you care?

As to your other "random points"
1. Blah - no added value.
2. Blah - no added value.
3. Describe wealth in that context and reaffirm your consideration of comfortable.
4. So separation and divorce, confirm where this wealth goes? Solicitors? Additional housing and living costs, cars, food bills etc? Remarried couple having their own children? Or not able to because they are already paying for the divorce. Is that the kind of wealth and comfort you are thinking of?
5. Blah - what? Like which caviar to buy or wether they really need the Aston, the Range Rover and Tesla, not a real problem, not interested.
6. Blah - A lot of people are in very respectable jobs adding a great deal to the progression of the UK as a whole, let me think doctors, nurses, police, school teachers, engineers, shop workers etc. Please let me know what might be better and also the reality of how they can aspire and then progress to these "better" jobs.
7. Affordable at what rate of pay? And with what bonuses? And with what contribution from BOMAD. Not on low wages or zero hour contracts and without job security?
8. So how many kids mid 20s-30s are still anchored to their parents whereas the parents themselves with quite ordinary yet worthy jobs could buy at the same point in their lives?

Keep going with your delusions.

As per another thread on this forum. 8 of the 12 regions a REPAYMENT mortgage is cheaper than renting similar social housing which clearly shows that homes in those regions are very CHEAP

GreatApe

BikingBud wrote: »

Keep going with your delusions.

This is the great illusion of the crash wishers
You are arguing that I am deluded for accepting what exists as reality right now

For about 10 years I've been saying to the crash wishers the same thing and for a decade they have been telling me I am delusional things are a bubble and will soon come crashing down. 10 years on and London is twice the price. Now they pray for a 50% crash which would take them back to a point in time when they were crying that things were delusional and a 50% crash was on the way.

Now think this though. What if you are wrong. If if you and your buddies confirmation bias is wrong? How will you feel in 10 years time if there is no crash. And who would you rather believe someone who has been right for 10-20 years or a group that has been wrong for 10-20 years?

BikingBud

GreatApe wrote: »

This problem does not exist there is no problem recruiting people in London in fact the opposite is true if you want a large pool of skilled and unskilled people go set up a business in London

It is true an unskilled low paid worker in London wont be able to buy a house but its also true that most of the 9 million people in London do not pay 31st March 2017 prices but pay anything from £0 upwards


PS the solution to improving infrastructure and well being in London is for the zone 2 councils to sell their council stock by the block, after giving themselves planning permission to rebuild at 2-3x the density with no social housing commitment. What that would do is 1: bring in a huge amount of money to the government and 2: take places like inner east London from over 50% social towards 10% social and thus zone 2 can be home to workers who work in westminster city docklands rather than retired nurses who got a council flat in 1975 and now plans to live for 30 years in that flat next to the big employment hubs while the workers need to travail 400 miles weekly to and from Luton

So the problem doesn't exist in London? So tell me why there are people travelling 400 miles per week to get to work?

Draw the curve between zero and 2017 house price contribution for the 9 million people in London, let's see what it looks like. Top end heavy? Mid heavy? Then compare those points with multiples of median London wage.

The fact is that low interest is masking the affordability gap.

Seems you want the serfs to live elsewhere shall we put some ghettos up for them?

BikingBud

GreatApe wrote: »

This is the great illusion of the crash wishers
You are arguing that I am deluded for accepting what exists as reality right now

For about 10 years I've been saying to the crash wishers the same thing and for a decade they have been telling me I am delusional things are a bubble and will soon come crashing down. 10 years on and London is twice the price. Now they pray for a 50% crash which would take them back to a point in time when they were crying that things were delusional and a 50% crash was on the way.

Now think this though. What if you are wrong. If if you and your buddies confirmation bias is wrong? How will you feel in 10 years time if there is no crash. And who would you rather believe someone who has been right for 10-20 years or a group that has been wrong for 10-20 years?

Who said anything about crash wishing? I stated that houses are fundamentally overpriced. And still people think that is great.

As a basic principle what percentage of your wage is it reasonable to pay for housing?

Pick any number between 0% and 100%?

economic

BikingBud wrote: »

Who said anything about crash wishing? I stated that houses are fundamentally overpriced. And still people think that is great.

As a basic principle what percentage of your wage is it reasonable to pay for housing?

Pick any number between 0% and 100%?

you say house prices are fundamentally over priced. then what should the price be?

dont think anyone in this debate is saying tis great to have high house prices. of course those looking to sell and downsize or just sell or own many properties and looking to sell would think its great. but whats wrong with that? its only human nature to be happy about something when it works in your favour.

if you are dating a good looking girl/boy do you think thats fair or unfair? why cant someone else who is dating someone not as attractive not get someone like you have? its the same concept as being able to buy.

economic

or another example. do you think if person A has cancer and person B doesnt thats fair? who decides who should have cancer and who should not?

westernpromise

I earn more than the people who work in the mail room downstairs yet I am charged the same for a Tube ticket as they are. How is that fair?

When I go to M & S to buy socks I am charged exactly the same for them as the gardener. How is that fair?

When I buy a coffee from Costa I am charged the same as my cleaner. How is that fair?

BikingBud

economic wrote: »

or another example. do you think if person A has cancer and person B doesnt thats fair? who decides who should have cancer and who should not?

Pathetic and insensitive:(

economic

i dont have a job at the moment yet i pay council tax. how is that fair?

i have some chronic injuries, how is that fair?

i am able to live rent free at my parents place, how is that fair?

i paid £1000 tuition fees a year at a top 5 uni, how is that fair?

i invested in overseas and US stocks prior to brexit and have returnned in excess of 30% whilst having a property and enough cash to see me through a very long time, how is that fair?

Out,_Vile_Jelly

GreatApe wrote: »

This problem does not exist there is no problem recruiting people in London in fact the opposite is true if you want a large pool of skilled and unskilled people go set up a business in London

http://www.bbc.co.uk/news/uk-england-london-30988883

I have mentioned this several times before; I work at a top London university where there is a specific problem being discussed at the highest level. This is academics in their 30s/40s leaving for less prestigious institutions where they can afford a family house within reasonable commuting distance (often in Germany). It is also a problem in Oxford and Cambridge apparently. A sustainable research group needs a range of ages and experiences; not just recent postdocs in their mid-20s and senior professors approaching retirement.