£194,400 minimum wage

Windofchange

economic wrote: »

that describes me but im not crash cheerleader.

it must be the entitlement culture where everyone deserves an iphone, takeout coffee, nice property in a nice area all whilst having a child or two.

But hang on a minute, weren't you in the 99th percentile of London earners spooning it in with a few hundred k a year a couple of threads back?

Windofchange

GreatApe wrote: »

Why not give the kids a choice?
£50k for your education or £50k on a deposit on a house or £50k into a pension?

Take that £50k and compound it at a real return of 5% a year over 70 years (age 18-88) and its worth £1.52 million. For a couple of uneducated folk thats £3 million

How much do you think the university educated couple will earn in their 40 year working lives above and beyond the uneducated couple? More than £3 million extra?

And just when I think you can't possibly get more ridiculous you out do yourself. You are either a master troll or just simply insane. I would reply but to be honest I'm too busy wetting myself laughing at your threads on HPC.

(For anyone who wants a laugh / insight into how Great Ape works, check out the below - he posts as RushRoad over there)

http://www.housepricecrash.co.uk/forum/index.php?/topic/229858-what-can-the-median-full-time-male-wage-buy-in-your-area/&

Honestly - read this to the end, it is 5 pages and growing of comedy gold.

ukcarper

Windofchange wrote: »

Except I put up a link a few posts back showing that by the age of 30 53% of women had had at least one child. But don't let needing to check anything get in the way of your train of thought, you just carry on.

The point you seem to be missing or ignoring is that once you have a child it becomes more difficult to save so if you want to buy for the majority of people you have to save before you have children, that was the case when I first bought in the 70s as it is now.

Windofchange

Or if you want further in depth analysis you could read Great Apes'

"The mathematics of increased renting and migration"

http://www.housepricecrash.co.uk/forum/index.php?/topic/229859-the-mathematics-of-increased-renting-and-migration/

My particular favourite here from our very own Cilla Black is:

"Another bit of good news IMO is if you really want it you could opt to marry someone rich or from a rich family. For the avoidance of doubt I'm not saying young people should marry old people but by the simple athematic means it should not be impossible to find someone suitable that isn't poor."

I'm literally in tears...

westernpromise

Windofchange wrote: »

And just when I think you can't possibly get more ridiculous you out do yourself. You are either a master troll or just simply insane. I would reply but to be honest I'm too busy wetting myself laughing at your threads on HPC.

(For anyone who wants a laugh / insight into how Great Ape works, check out the below - he posts as RushRoad over there)

http://www.housepricecrash.co.uk/forum/index.php?/topic/229858-what-can-the-median-full-time-male-wage-buy-in-your-area/&

Honestly - read this to the end, it is 5 pages and growing of comedy gold.

The best bit of comedy gold in that thread is this post by the aptly-handled "Muddlehead":

More than 100% crash implies prices would become negative. I think you mean more than 50%.

That in a nutshell encapsulates why the echo chamber that is HPC is so bad for your financial health. As we have established here, it is entirely possible to need a price crash of more than 100%. Crashy Time, for example, needs a price crash of 130%.

That Muddlehead simply cannot imagine this explains why he will certainly die poor.

ukcarper

Windofchange wrote: »

And round and round and round we go. Yes, fine, two people on minimum wage with no children, no car, no phone, no social life, no clothes budget and saving at more than the average savings rate can afford a property after a few years. Great. Why is home ownership falling off a cliff amongst the young in this country? We've so far had new cars, Bulgarians, iPhones, holidays and children. I suppose next up is a diet of beans on toast for 5 years?

It's not a matter of no phone no car it's no children, it is perfectly possible to have a phone and a car and save on £25k a year. My phone costs £10 a month and a car doesn't need to cost that much. I know I could save a fair amount on £25k a year as I can save on what I get now which is considerably less.

Windofchange

ukcarper wrote: »

The point you seem to be missing or ignoring is that once you have a child it becomes more difficult to save so if you want to buy for the majority of people you have to save before you have children, that was the case when I first bought in the 70s as it is now.

This is exactly my point. You are trying to say that housing is affordable for a minimum wage earning couple yes? So, look at an average minimum wage earning couple. Don't look at what you did and what the morals of it all are, whether you should save in your 20's etc etc. Look at the average couple today.

At one of the scale you have Mr and Mrs I have saved everything I have ever earned and have a 20k deposit with no children at the age of 30. At the other end of the scale you have I've blown the lot and live off payday loans to support my six children. Then look to the middle where the majority of people sit. They will have done a bit of both.

I'm not disagreeing with you. A couple on minimum wage with no children, saving everything they earn can afford a house. My parents brought a house off just my father's accountant wage back in the 70's - 3 bed semi with a 200ft garden. Plenty of photos of them on the tiles, fancy dress parties, rugby tours, xmas parties.

I'll leave it here with you and let you no doubt have the final word.

Windofchange

westernpromise wrote: »

The best bit of comedy gold in that thread is this post by the aptly-handled "Muddlehead":

More than 100% crash implies prices would become negative. I think you mean more than 50%.

That in a nutshell encapsulates why the echo chamber that is HPC is so bad for your financial health. As we have established here, it is entirely possible to need a price crash of more than 100%. Crashy Time, for example, needs a price crash of 130%.

That Muddlehead simply cannot imagine this explains why he will certainly die poor.

You have a house worth £200k. Your house crashes by 100%. It is worth nothing. You have a house worth £200k. Your house crashes by 130%. It is now worth £-60k. Seems pretty simple maths to me.

GreatApe

Windofchange wrote: »

Or if you want further in depth analysis you could read Great Apes'

"The mathematics of increased renting and migration"

http://www.housepricecrash.co.uk/forum/index.php?/topic/229859-the-mathematics-of-increased-renting-and-migration/

My particular favourite here from our very own Cilla Black is:

"Another bit of good news IMO is if you really want it you could opt to marry someone rich or from a rich family. For the avoidance of doubt I'm not saying young people should marry old people but by the simple athematic means it should not be impossible to find someone suitable that isn't poor."

I'm literally in tears...

Here is my response to that which hasn't been approved by the mods there

'As if this is a legitimate idea.'

Its a very legitimate idea.

Its absolutely fine to pick a husband or wife for their attributes be it how tall they are how strong they are how smart they are and yes how much money they have.

What's your advocated method? Get drunk in a pub and pick someone there using the most primitive reptilian parts of the brain directing brief moments of lust?

For the avoidance of doubt I'm not saying 20 year olds should marry 80 year olds for their money (if they want to its upto them but I would not recommend it). What I'm saying is that while in your 20s you should aim to find someone who is also in their 20s who has a well paid job and ideally well off parents. That goes for both boys and girls in their 20s and early 30s.

That you feel that is not only bad advice but worth laughing at is the amusing part. But anyway I don't want to cross post on websites

Windofchange

GreatApe wrote: »

What I'm saying is that while in your 20s you should aim to find someone who is also in their 20s who has a well paid job and ideally well off parents. That goes for both boys and girls in their 20s and early 30s.

Hey baby. Let me see your bank account. Oh yeah, that is a lovely pair of balances. Ooooh yeah, let me see that will.

You've moved away from blaming Bulgarians at least, but now your solution to affordable housing is to give every school leaver in the UK £50k to spend on either education, a pension or property, or go on the pull in your local nursing home.

This is incredible. :rotfl: