NewBrit

The worst time to have a big fat mortgage is when inflation is negative.

The problem is not private sector house building, the problem is the government enforced planning laws.

Surely any extra tax collected will go towards old peoples pensions and medical care.

So they are asking 8830 pounds per square meter. That is insane. So the average UK worker can only buy 3 square meters of this house with a year's worth of wages. That can't be right.

Generally don't do stupid things financially. 1. Stay away from credit 2. Pay off your house early. 3. Don't take out a mortgage that costs more than 25% of your take home pay on a 15 year fixed. 4. Only buy a house if you are going to live in it for at least 5 years. 5. Don't buy investments (shares/property, etc) because the price has recently gone up. 6. Don't buy cars on credit, cash only. 7. Don't buy timeshares 8. Don't buy gold or other commodities. 9 Don't do day trading. 10. Don't buy single stocks, much better to buy index trackers, for example FTSE 100 index tracker. 11. Don't lend money to friends and family. 12. Don't own cars worth more than 50% of your annual salary when added all up. 13. Only buy investments that puts money in your pocket every month. 14. Stay away from pyramid schemes 15. If it is too good to be true, it is. 16. Have at least 3 months of living expenses in a savings account for emergencies. 17. Spend less than you earn every single month. 18. Suck up to your boss. 19. Save a minimum of 15% of your pay towards your pension.

Democracy is life having to pick random strangers to do grocery shopping for you without being allowed to tell them what to get. In this case all three (Libby, Labrador and Conny) buys sour milk (government house planning monopoly) and you cannot do anything about it. They will promise to get broccoli, but instead gets you dog food. And quite frequently they will "forget" half of the groceries in their cars.

If this was an actual democracy, we could have voted out the party that endorses the state planning monopoly.

Housing is definitely not a human right. If you say you have a right to housing, you are violating the right of the person owning the house. So which one is correct? The right of ownership of property or the right to housing? Houses are too expensive, but that does not give you the right to one.

I said England, not UK!!! Scotland is, em, part of the UK and is basically empty...

Indeed, governments should NEVER run a deficit. There is no reason to borrow today and repay tomorrow. Spending should be nice and stable.

I didn't threaten, I just left.

More than 10 times the local annual wage for 44 sqm, yeehaa!

Why is he selling, I thought his strategy was based on cash flow. Is he just getting rid of his bad apples?

Very few people are actually on the minimum wage and almost no-one stays on it for very long. For example in the USA, only 2.6% of the workforce is on the minimum wage: http://www.pewresearch.org/fact-tank/2014/09/08/who-makes-minimum-wage/ It is mostly young people who are on the minimum wage. Minimum wage restricts people from getting into the labor force by making it illegal for businesses to hire people with low skills on low wages. Very sad. Another way to look at the minimum wage: If you want to reduce the amount of cheap alcohol people buy, put a minimum price on alcohol. If you want to restrict the number of low skilled workers businesses hire, put a minimum wage in place.

The purpose of the tenant is not to make any money for the landlord, it is to take care of the property. That is why they have inspections every 6 months, it is to make sure the tenant is doing their job properly.

It is exactly because it is a charitable company that is HAS to spend all the money they make. They are not allowed to make profit...

I could possibly understand a 100k or so, but 288k, no way.

It includes women...

Em, another word for negative equity is BANKRUPT. Just a thought.

No, quite possible actually, growth comes through better technology and better use of resources.

Corrected.

When calculating inflation they take how much a TV costs for example, not how much it costs to rent it. Same for the rest of the stuff in the inflation basket. Why then, when calculating the contribution of housing to inflation do they use the cost to rent a house instead of how much the house actually costs? Surely inflation is the rise in the cost of things? If I understand it correctly, most people actually own their house in the UK, so instead of working out imputed rent, they should actually be calculating imputed house price (for the few people that rent) and use that in the inflation basket.

Home theater room, hobby room, spare room, home office, gym room, lodger room, etc. A single person could easily use a 5 bedroom house.

+1. In countries where house prices are currently reasonable (price-to-rent and price-to-income ratios are at long term averages) you can buy a mansion for £400k.

Similar 3 bed houses in the area are renting for around £1600 a month, so a PE of 15 means it should cost around £288k, or at a PE of 20, it should cost around £384k. Definitely not £625k.