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Debate House Prices
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Moneyweek: Why this housing crash could be worse than the 1990s
Comments
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OMG I am reading Hamish and nodding in agreement.
OMG.
I only had 2 glasses of wine too....must be the endorphin rush...;-)
Endorphin rush???
Surely reading me isn't that painful...
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Noooo :rolleyes:..the endorphin rush was from the 50 length fast swim...then the walk home up the cliff (very stee) against the wind...then the wine......then I read your post. It's a lethal combination.:DHAMISH_MCTAVISH wrote: »Endorphin rush???
Surely reading me isn't that painful...0 -
HAMISH_MCTAVISH wrote: »Then the average household income of the top 70% of earners (likely house buyers) is most likely right around 60K.
60K households are not uncommon at all.
That's a lorry driver and a senior secretary, !!!!!!.....
Or a pair of 35 year old teachers, not exactly renowned for being highly paid....OMG I am reading Hamish and nodding in agreement.
OMG.
:rotfl: I don't feel the same compulsion fc! Hamish is forgetting that we are talking about young couples hoping to get into property buying, not older middle earners already established in their careers!0 -
:rotfl: I don't feel the same compulsion fc! Hamish is forgetting that we are talking about young couples hoping to get into property buying, not older middle earners already established in their careers!
Double OMG...must be the goats cheese on toast with salad folowed by a strong, luxe coffee adding to the rush...my seratonin level's are sky high at the mo....and got the house to myself and the cats for 2 days too...so no skivvying either.......seratonin now off the scale... so much so....I agree with HM.:o:o But he does like to be right...so will lift his seratonin levels too.:D
HM does make a little error in judging using his own circumstances as a benchmark though...sorry HM....had to be said.
The biggest problem is no council places for young couples starting out...we can't all earn 60k+ household incomes..I accept that totally and also, acknowledge that what you earn doesn't always match the importance (to society) of the job you do.0 -
:rotfl: I don't feel the same compulsion fc! Hamish is forgetting that we are talking about young couples hoping to get into property buying, not older middle earners already established in their careers!
Look, I see what you're saying, but it just doesn't wash I'm afraid.
Young couples don't need a house as the first rung on the ladder.
They only need a small flat. And if they are smart, they will have two already by the time they settle down.;)
Aberdeen is one of the most expensive markets, with the highest average wage, in Scotland.
And even here, you can buy a 1 bed flat for £50K within a 45 min drive of the city centre, or for £75K in the city centre itself.
In England, you can buy a 2 bed terrace house for £60K within a 40 min drive of Manchester.
In at least 60% or 70% of the country, you can buy a small place on 20K or 25K a year...... It may be a stretch, but realistically, owning a home always has been, at least for the first decade or so.
Dual income households can obviously do better.
Nobody ever said owning houses is the right of the poorest people in society. It never has been, and never will be.
In 1964, only 48% of households were owner occupied. Today it's closer to 70%. The proof of the pudding is in the eating, as they say.....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Look, I see what you're saying, but it just doesn't wash I'm afraid.
Young couples don't need a house as the first rung on the ladder.
They only need a small flat. And if they are smart, they will have two already by the time they settle down.;)
Aberdeen is one of the most expensive markets, with the highest average wage, in Scotland.
And even here, you can buy a 1 bed flat for £50K within a 45 min drive of the city centre, or for £75K in the city centre itself.
In England, you can buy a 2 bed terrace house for £60K within a 40 min drive of Manchester.
In at least 60% or 70% of the country, you can buy a small place on 20K or 25K a year...... It may be a stretch, but realistically, owning a home always has been, at least for the first decade or so.
Dual income households can obviously do better.
Nobody ever said owning houses is the right of the poorest people in society. It never has been, and never will be.
In 1964, only 48% of households were owner occupied. Today it's closer to 70%. The proof of the pudding is in the eating, as they say.....
OK..I think I have worked it out.
HM...Have you ever considered altering your writing style a teeny tiny bit somtimes? Only say this as I read your posts now with a fierce scottish accent and and said with a grin...they work better then and the point isn't lost.
Just saying as it may work for you...a few niceties sprinkled in between the points you are trying to make? Why not give it a go? I'm not being rude or anything but sometimes, the written word can come over differently to spoken.0 -
HAMISH_MCTAVISH wrote: »In 1964, only 48% of households were owner occupied. Today it's closer to 70%. The proof of the pudding is in the eating, as they say.....
Not owner occupied Hamish - banks part own most of them and those banks are likely to be 'sole' owners of more and more of them as time passes by.
It's only govt 'fiddling' with our economy that's keeping a good deal of buyers still inside their homes.0 -
Not owner occupied Hamish - banks part own most of them and those banks are likely to be 'sole' owners of more and more of them as time passes by.
There are 22 million privately owned houses, and only 11 million mortgages.
Of the 11 million mortgages only 5 million have LTV's of more than 50%......
So technically, banks only own around a third of the UK's housing stock.It's only govt 'fiddling' with our economy that's keeping a good deal of buyers still inside their homes.
Only 2.87% of mortgages are in arrears. Less than 1% of mortgages get reposessed.
The government package in terms of help for the repossesed is certainly assisting tens of thousands of people avoid a personal calamity. Perhaps you'd prefer it if they were just left to rot?
As for interest rates, the BoE MPC is independant, and rates will not be going up any time soon.
RPI is negative and CPI is below target, and that's after the pound devaluation that should have caused massive inflation by now.:rolleyes:
The only "fiddling" going on that of misportraying reality by desperate bears trying to justify backing the wrong side.....:D“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »There are 22 million privately owned houses, and only 11 million mortgages.
Only 2.87% of mortgages are in arrears. Less than 1% of mortgages get reposessed.
The government package in terms of help for the repossesed is certainly assisting tens of thousands of people avoid a personal calamity. Perhaps you'd prefer it if they were just left to rot?
As for interest rates, the BoE MPC is independant, and rates will not be going up any time soon.
RPI is negative and CPI is below target, and that's after the pound devaluation that should have caused massive inflation by now.:rolleyes:
The only "fiddling" going on that of misportraying reality by desperate bears trying to justify backing the wrong side.....:D
I have a theory that most of the bears are secretly buy to let landlords.
They spread the bad news to encourage price falls so they may expand their empire.
Or perhaps I've been reading too many Asheron conspiracy theories.
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Have you ever considered altering your writing style a teeny tiny bit somtimes?...a few niceties sprinkled in between the points you are trying to make?HAMISH_MCTAVISH wrote: »The only "fiddling" going on that of misportraying reality by desperate bears trying to justify backing the wrong side.....:D
That looks like a "No", then.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0
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