The house 'earnings' award goes to ....

economic

ukcarper wrote: »

I suppose it depends how complaining impacts on your earnings. I think some people complaining about house prices have very little chance of earning and saving enough to buy but others do but are not prepared to make the sacrifices they need to. Personally I see the barrier to buying is not saving deposit but earning enough to get the mortgage.

no its both. but there are some where one is more a problem then the other. even city workers in their 30s get a good wage (100k) but not saved enough over the years for a decent deposit.

ukcarper

economic wrote: »

no its both. but there are some where one is more a problem then the other. even city workers in their 30s get a good wage (100k) but not saved enough over the years for a decent deposit.

It depends how much you are prepared to sacrifice if you are earning £100k I can't see why you couldn't save £50k probably more a year. I live a comfortable life on much less than £50k.

Windofchange

economic wrote: »

no its both. but there are some where one is more a problem then the other. even city workers in their 30s get a good wage (100k) but not saved enough over the years for a decent deposit.

So, you are going to inherit more than £500k from your parents, you know loads of people who will do likewise, you earn six figures working in banking, and you lived rent free for 8 years to save a deposit for a house. You aren't really a shining example of sacrifice and grit. After tax you could spend half your salary on beer and holidays and still have saved around £300k in those 8 years.

Then there's the other 99.99% of the population...

economic

Windofchange wrote: »

So, you are going to inherit more than £500k from your parents, you know loads of people who will do likewise, you earn six figures working in banking, and you lived rent free for 8 years to save a deposit for a house. You aren't really a shining example of sacrifice and grit. After tax you could spend half your salary on beer and holidays and still have saved around £300k in those 8 years.

Then there's the other 99.99% of the population...

actually im in the top 4-5%ile in terms of net worth distribution. so its actually the other 95% of the population of uk. but then london is like a different country.

does anyone know where i stand in terms of %ile net worth for london alone? my net worth is around 750k.

ukcarper

economic wrote: »

actually im in the top 4-5%ile in terms of net worth distribution. so its actually the other 95% of the population of uk. but then london is like a different country.

does anyone know where i stand in terms of %ile net worth for london alone? my net worth is around 750k.

Don't know about net worth but median earnings for London is £35k and £53k for city.

Windofchange

economic wrote: »

actually im in the top 4-5%ile in terms of net worth distribution. so its actually the other 95% of the population of uk. but then london is like a different country.

does anyone know where i stand in terms of %ile net worth for london alone? my net worth is around 750k.

Around the 96th percentile:

https://www.ifs.org.uk/publications/8239

economic

Windofchange wrote: »

Around the 96th percentile:

https://www.ifs.org.uk/publications/8239

but thats all of uk, so nothing special about being in top 4% for wealth.

Windofchange

Yup but other than pockets of the UK, I think you'll find that most of the wealth is in London, so it's probably not too far off. You maybe slip 1-2% to account for the footballers of Manchester and the retirees of sandbanks...

economic

Windofchange wrote: »

Yup but other than pockets of the UK, I think you'll find that most of the wealth is in London, so it's probably not too far off. You maybe slip 1-2% to account for the footballers of Manchester and the retirees of sandbanks...

no, if you did my net worth compared to only london then its gonna be a lot lower percentile. i guestimate around 80th percentile.

ukcarper

economic wrote: »

no, if you did my net worth compared to only london then its gonna be a lot lower percentile. i guestimate around 80th percentile.

In 2013 22% of households in London had a total wealth of over £1m, that's everything including pension pot.