A Millennial Speaks out

chucknorris

triathlon wrote: »

I am very dubious about calling people trolls, though I do suspect you are one yourself, I just find it a cop out most of the time for people that say silly things and then try an get out of it. You personally post in a way that seeks approval and to impress in a "that's the type of guy I am" way.

By all means keep your distance from me as I suspect little of what you post is true, ironic a troll calling someone a troll, and you initiated the conversation with me :rotfl:

I just have a sneaking suspicion I hit a nerve with the HPC thing

I didn't realise that you were trolling when I first responded to your post.

You are way off the mark with the HPC thing. As I said before I really don't care if you don't believe whether I own multiple properties or not, they are an investment for my future, not to impress people that I don't even know.

triathlon

steampowered wrote: »

Once again, you are wrong. By today's standards, property was very cheap in the 70s and 80s.

I refer you to this graph which shows what has happened to house prices in real terms since the 70s.

As you will see, real house prices have doubled since the 70s.

Or to put it another way, someone who bought property in the 70s or 80s got 50% off.

Most people would describe getting something at 50% off as a bargain.

See you people just jump in without thinking or reading.

Going on what you are saying and if you are to be believed , even though you are excluding things such as high inflation and 3 day week etc, high interest rates, it falls into the category of being easier like I said and not easy, I personally would have picked the 1980's as the best ever years.

But it is all subjective and relative, every decade has it's issues and problems

ukcarper

triathlon wrote: »

We keep hearing that same message, for well over a decade me thinks, and yet houses keep on selling, in Surrey more than anywhere else I bet, know it well I used to live in SW19, as prices keep going up in value.

I think it's you that has missed something

That’s meaningless.

triathlon

chucknorris wrote: »

I didn't realise that you were trolling when I first responded to your post.

You are way off the mark with the HPC thing. As I said before I really don't care if you don't believe whether I own multiple properties or not, they are an investment for my future, not to impress people that I don't even know.

Look, you call me a troll, I am certain you are one, nothing else to talk about. Bye Bye!!

You keep saying you are going to ignore me, please do so

chucknorris

steampowered wrote: »

Once again, you are wrong. By today's standards, property was very cheap in the 70s and 80s.

I refer you to this graph which shows what has happened to house prices in real terms since the 70s.

As you will see, real house prices have doubled since the 70s.

Or to put it another way, someone who bought property in the 70s or 80s got 50% off.

Most people would describe getting something at 50% off as a bargain.

London property was also quite cheap in the 90's too, it was one of the main reasons that I came down to London. Last year I sold one flat for £440k that I bought for only £84k in 1999. I bought another 3 flats in Battersea in the 90's too, which i still own:

3 bed bought for £58k, currently worth approx £455k
3 bed bought for £70.5k, currently worth about £625k
2 bed bought for £68k, currently worth about £435k

triathlon

ukcarper wrote: »

That’s meaningless.

What you implied was that wages were too small and house prices too expensive, so nobody could afford them, am I right?

And yet people are buying them because they can afford them, fact.

ukcarper

Interesting graph

steampowered

ukcarper wrote: »

That doesnt take income account that earnings have outstripped earnings since 70s. According to measuring worth website 1 pound in 1971 was the equivalent of £13 in 2016 using RPI but using wage growth over the same period its £21.80.

OK, so here is a graph showing average earnings against average house prices.

As you will see, the average house price was about 3.75x average earnings in 1975. That has increased to more than 8x average earnings today.

chucknorris

These graphs can be useful, but they don't factor in mortgage rates, which has a significant impact on affordability.

[Deleted User]

ukcarper - in some areas of London you see 17x ratios - http://www.cityam.com/264575/london-borough-has-uks-worst-salary-house-price-ratio

It is obviously worth remembering that this ratio isn't a direct look at affordability - since interest rates and mortgage rates are at historic lows at the moment.