wealthy Posted April 17, 2009 Share Posted April 17, 2009 Quote Link to comment Share on other sites More sharing options...
bearbullfence Posted April 17, 2009 Share Posted April 17, 2009 The average person should be able to afford the average house. It really is that simple. Doesn't work like this. Never has, never will. Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted April 17, 2009 Share Posted April 17, 2009 My Father was one of ten, born on a council estate. Him and each of his siblings have worked for their entire lives in jobs that pay well below the national average. Yet each of these 10 own their own house. Move to today. How many children born on a council estate will be able to afford a house in their lifetimes if prices stay as they are? All of them, if they buy their council houses at a discount as the previous council house estate generation did...... Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted April 17, 2009 Share Posted April 17, 2009 You feckers are funnnnnnnnny. And imagine, all that creative energy going to waste in a vain attempt to bait Hamish, when you could have been out finding a real job so you could afford a house. Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted April 17, 2009 Share Posted April 17, 2009 Doesn't work like this. Never has, never will. So true. And yet they still don't get it. Quote Link to comment Share on other sites More sharing options...
starsky Posted April 17, 2009 Share Posted April 17, 2009 When my dad first moved to London he bought a house within 2 years. I couldn't afford that same house now on 3.5 multiple even if I was on 50k and had a 50k deposit. And he was only at the start of his career. Quote Link to comment Share on other sites More sharing options...
Dr Renter Posted April 17, 2009 Share Posted April 17, 2009 Doesn't work like this. Never has, never will. It did until about 2001. Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted April 17, 2009 Share Posted April 17, 2009 It did until about 2001. Only in your dreams. Quote Link to comment Share on other sites More sharing options...
spivT Posted April 17, 2009 Share Posted April 17, 2009 Only in your dreams. that's right. Ignore all anecdotals that don't conform to your 1967-3bed-postwar-semi, starter-flat, DINK, no-hpc world view. Your guilty of the same one-eyed thinking you accuse others of. Quote Link to comment Share on other sites More sharing options...
spivT Posted April 17, 2009 Share Posted April 17, 2009 Doesn't work like this. Never has, never will. it never will, when those who champion the free markets setting house price value get the all important state intervention when the markets are demanding and trying to facilitate a correction, as an attempt to keep the party going just a little bit longer. Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted April 17, 2009 Share Posted April 17, 2009 (edited) it never will, when those who champion the free markets setting house price value get the all important state intervention when the markets are demanding and trying to facilitate a correction, as an attempt to keep the party going just a little bit longer. The free markets cannot set house prices when the supply of mortgages is being artificially restrained. Provide readily accessible mortgage funding to all employed people with a reasonable credit rating and a 5% deposit and then you will see the free markets set prices. At a level substantially higher than todays. I'm curious. Do you even know what the price of a pint of milk is? Or a loaf of bread? Edited April 17, 2009 by HAMISH_MCTAVISH Quote Link to comment Share on other sites More sharing options...
Peter Hun Posted April 17, 2009 Share Posted April 17, 2009 (edited) All of them, if they buy their council houses at a discount as the previous council house estate generation did...... Another stupendously stupid comment. How will that happen exactly? Will the fixed £18K discount make 180K council house affordable to working class people? The free markets cannot set house prices when the supply of mortgages is being artificially restrained. rolleyes.gifProvide readily accessible mortgage funding to all employed people with a reasonable credit rating and a 5% deposit and then you will see the free markets set prices. At a level substantially higher than todays. rolleyes.gif Oh, deluded and stupid. Ok. Edited April 17, 2009 by Peter Hun Quote Link to comment Share on other sites More sharing options...
ccc Posted April 17, 2009 Share Posted April 17, 2009 Doesn't work like this. Never has, never will. Ok fair enough. Just add a few facts and stats to prove your point. Maybe you are right. I doubt it. However I know this country is seriously ******ed up. Maybe you are correct. So let's assume you are correct. Can I ask why this situation is true ? Can the average person today afford the average Car ? YES. Can the average person today afford the average bike ? YES. Can the average person today afford the average watch ? YES. Can the average person today afford the average holiday ? YES. Can the average person today afford the average pair of jeans ? YES. Can the average person today afford the average insurance policy ? YES. Can the average person today afford the average pint of beer ? YES. So why not the average house ? I don't think the average Joe should be able, at the age of 20, to buy a detached villa in the nicest area of Suffolk. That would be insane. However the average Joe buying the average wee dinky house for 3 times their annual salary - before tax ? Seems reasonable to me. Quote Link to comment Share on other sites More sharing options...
spivT Posted April 17, 2009 Share Posted April 17, 2009 The free markets cannot set house prices when the supply of mortgages is being artificially restrained. Provide readily accessible mortgage funding to all employed people with a reasonable credit rating and a 5% deposit and then you will see the free markets set prices. At a level substantially higher than todays. I'm curious. Do you even know what the price of a pint of milk is? Or a loaf of bread? ergo, the free markets cannot set fair house price values when real interest rates are artificially restrained. what part of, the house price bubble was driven by speculative investment do you not understand ? credit ratings and 5% deposits had f*** all to do with the monstrous levels the bubbles reached. Fine, call for equitable access to mortgage finance, but then don't play down the role of central bank and govt. intervention in your free markets during the era of no money down mortgages, and speculative mania. the price of a loaf of bread varies considerably aswell you know. And i don't buy pints of milk, i pay 6pint containers. pints of milk are for childless couples such as you and your missus. now must go to bed, otherwise i'm doing exactly what's described in that cartoon at the bottom of your post. Quote Link to comment Share on other sites More sharing options...
ccc Posted April 17, 2009 Share Posted April 17, 2009 ergo, the free markets cannot set fair house price values when real interest rates are artificially restrained. what part of, the house price bubble was driven by speculative investment do you not understand ? credit ratings and 5% deposits had f*** all to do with the monstrous levels the bubbles reached. Fine, call for equitable access to mortgage finance, but then don't play down the role of central bank and govt. intervention in your free markets during the era of no money down mortgages, and speculative mania. the price of a loaf of bread varies considerably aswell you know. And i don't buy pints of milk, i pay 6pint containers. pints of milk are for childless couples such as you and your missus. now must go to bed, otherwise i'm doing exactly what's described in that cartoon at the bottom of your post. I know Hamish is a grade 'A' knob. But that is a bit too far. IMO. I am sure in the boozer he may be a decent enough cant. Quote Link to comment Share on other sites More sharing options...
uptherebels Posted April 17, 2009 Share Posted April 17, 2009 The free markets cannot set house prices when the supply of mortgages is being artificially restrained. The free market cannot set house prices when the supply of mortgages is being artificially inflated either Quote Link to comment Share on other sites More sharing options...
ccc Posted April 17, 2009 Share Posted April 17, 2009 The free market cannot set house prices when the supply of mortgages is being artificially inflated either Very good point. Quote Link to comment Share on other sites More sharing options...
MississippiJohnHurt Posted April 17, 2009 Share Posted April 17, 2009 The free markets cannot set house prices when the supply of mortgages is being artificially restrained. it's called a credit cycle. Was it artificial expansion between 2003 and 2008? Anyway if there's any artificial intervention now, it's exactly the other way round, the government are trying to interfere in the "free" market's appetite for giving credit through unprecedented measures: historically low interest rates, QE, getting lending commitments from nationalised banks, etc etc. But the banks clearly don't want to go anywhere near the lending practices of the last 5+ years. One day, they will again. Both situations will greatly influence house prices. Aside from government attempts to intervene, what's artificial about it? Quote Link to comment Share on other sites More sharing options...
Dr Renter Posted April 17, 2009 Share Posted April 17, 2009 Only in your dreams. I'm sorry, I was under the impression that average house prices were 3 times the average income at this point. I'd call that affordable. Or maybe I did dream it Quote Link to comment Share on other sites More sharing options...
Dr Renter Posted April 17, 2009 Share Posted April 17, 2009 (edited) The free markets set house prices when the supply of mortgages is sensible : I couldnt agree more Hamish! Edited April 17, 2009 by Dr Renter Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted April 17, 2009 Share Posted April 17, 2009 (edited) The free markets cannot set house prices when the supply of mortgages is being artificially restrained. in what way is the supply of mortgages being artifically restrained? (apols if it was meant as a joke - don't get it) Edited April 17, 2009 by newdman Quote Link to comment Share on other sites More sharing options...
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