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Average Salary According To The Ons Is Now Exactly £24k

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

Yes, average property prices should be around 84k, but we are living in a country overun with dirty untalented f*cks who think HPI is their ticket to a better life. I wish we could dispense with most of the population of the UK and all the MP's.

Life would be so much more pleasent if we got shot of the filth.

Edited by Wait & See

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I wish we could dispense with most of the population of the UK.

I've often thought this myself. Life would be so much better without 80-90% of the population. Most of them are such dreadful chavs/oiks anyway.

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

Your an idiot. Everyone knows average house price should be £250K as it's good for the economy and there are no losers.

;)

I too look forward to the days when prices are like that, not sure they will be though as the Sheeple would all hang themselves if their pension fund was only worth that.

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I've often thought this myself. Life would be so much better without 80-90% of the population. Most of them are such dreadful chavs/oiks anyway.

It's not the chavs I hate, it's the middle class arseholes I can't stand. The grasping t1ts who think they can better themselves by shafting others. The BMW 318 drivers. Get them all ta fook. Wan*ers!!

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Your an idiot. .

Ha priceless ! Its you're not your - you're is a contraction of you are, your is a possessive pronoun. See me after class.

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Ha priceless ! Its you're not your - you're is a contraction of you are, your is a possessive pronoun. See me after class.

:P You must be over the age of 35 innit!

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

exactly right. But there has been over the last decade - the lunacy of low interest rates , liar loans, Interest only mortgages, two incomes @ 24K when deciding how much to lend, buy to let leveraging ......and on and on. If only the banks had been more careful and interest rates had not been kept so low, and the property ramping had not been so 'ramped' the average house price would be about 84k and we would all be a lot more content.

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It's not the chavs I hate, it's the middle class arseholes I can't stand. The grasping t1ts who think they can better themselves by shafting others. The BMW 318 drivers. Get them all ta fook. Wan*ers!!

Can you please explain your issue with BMW 318? Disclosure: I do not have a car.

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So with the long term trend of 3.5 x av income, the average house price should be £84K

Is that true?

20 years ago you could only get a mortgage for 3.5x your salary, but I'm not sure thath that equated to the average house price being 3.5x the national average wage. The way the housing ladder used to work was that FTBs bought an affordable home and then moved up the ladder because their salary increased plus they had equity in their property. The current bubble arose when the banks threw the rulebook out of the window.

Edited by Mark Uttley

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Can you please explain your issue with BMW 318? Disclosure: I do not have a car.

Also it would be funny to find out who thinks they are middle class now? I suspect the vast majority of people.

There was a recentish (few years back) survey that asked drivers if they thought they were average, below average or above average drivers. 60%+ said they were above average. Sorry off topic but I suspect everyone who is 'the same' actually thinks they are better than everyone else.

Anyway, it's Audi not BMW that has become the new w*nker drivers car hasn't it? Mondeo late 90's (and I have one) :lol:

Edited by Redcellar

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

"Average" earners don't buy "average" priced houses. Lots of earners rent; lots of non earners (pensioners) live in above "average" houses.

And I think 24k is the "median" wage, not the "mean" (average). So 50% of the population earn less than than 24k, but obviously no one earns more than 24k less than that (0k), quite a few people earn more than 24k more than that (48k).

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Is that true?

20 years ago you could only get a mortgage for 3.5x your salary, but I'm not sure thath that equated to the average house price being 3.5x the national average wage. The way the housing ladder used to work was that FTBs bought an affordable home and then moved up the ladder because their salary increased plus they had equity in their property. The current bubble arose when the banks threw the rulebook out of the window.

It was 3.5 x avergae income before the latest insane mega bubble. Currently, I think the trend is about 4 x av income - it's been skewed by said bubble.

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Article in today's Telegraph saying Salaries are falling at fastest rate ever ( can't find the link ) contains the information that the average salary is now just £24K precisely. So with the long term trend of 3.5 x av income, the average house price should be £84K , so about another 45% to go - thats assuming they dont overshoot on the way down of course - which they normally do. Long way to go yet.

I'll gently point out that you need to take away all the people who live in social housing, and so are 'out' of the housing market... ;)

This will probably mean that the average wage of people in the housing market is higher than 24K, how much I have no idea...

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Can you please explain your issue with BMW 318? Disclosure: I do not have a car.

The smallest capacity 3 series represents everything I hate about middle class attitudes.

Anyone who is into cars buys a BM with a proper engine, as a more powerful Ford Mondeo (a V6) costs less than a BMW 318. Why would anyone buy a BMW with an engine that can be outdragged by a Saxo. Simple, it's all about the badge (no one wants a "common" Ford) and what their friends think, when talking about cars at the monthly dinner party. :rolleyes:

These sad b4stards are pathetic and should be put out of their misery IMO. It's the same with property, kids qualifications, holidays, what kind of dog they own - it's all about da image innit!!

Insecurity will devourer them at some point anyway.

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"Average" earners don't buy "average" priced houses. Lots of earners rent; lots of non earners (pensioners) live in above "average" houses.

And I think 24k is the "median" wage, not the "mean" (average). So 50% of the population earn less than than 24k, but obviously no one earns more than 24k less than that (0k), quite a few people earn more than 24k more than that (48k).

I think you are rather missing the point - the long term trend average house price to average income was 3.5 before the latest mega bubble skewed the trend upwards to about 4.

Whether people rent or not and where pensioners live is neither here nor there.

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The smallest capacity 3 series represents everything I hate about middle class attitudes.

Anyone who is into cars buys a BM with a proper engine, as a more powerful Ford Mondeo (a V6) costs less than a BMW 318. Why would anyone buy a BMW with an engine that can be outdragged by a Saxo. Simple, it's all about the badge (no one wants a "common" Ford) and what their friends think, when talking about cars at the monthly dinner party. :rolleyes:

These sad b4stards are pathetic and should be put out of their misery IMO. It's the same with property, kids qualifications, holidays, what kind of dog they own - it's all about da image innit!!

Insecurity will devourer them at some point anyway.

Do they make you feel inferior? If it wasn't the 318 do you think you'd find something else that annoys you?

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I think you are rather missing the point - the long term trend average house price to average income was 3.5 before the latest mega bubble skewed the trend upwards to about 4.

Whether people rent or not and where pensioners live is neither here nor there.

I concur. 3.5 has been seen as the reasonable limit based upon the proportion of you income that would go straight out each month towards mortgage payments (though this too is based on long term trends of interest rates). It's not a new figure.

Higher than 3.5 increases the risk of default and that's why lenders used to frown upon it. It wasn't that you couldn't pay, it was more that you might decide to take some of the payments and instead go on holiday or buy a car (me being sarcastic, but probably truthful too). Of course it assumed the interest rates wouldn't spike (thereby making you unable to pay) which was what happened in the 80's and lead to that crash.

Edited by Redcellar

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Do they make you feel inferior? If it wasn't the 318 do you think you'd find something else that annoys you?

Nope.

But it's these kind of creatures that have brought the country to it's knees. I'm all for people paying 20k cash for a 318. No one did though. Stupid bast4rds!!

Same with everything else. All on tick. :rolleyes:

Edited by Wait & See

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I think you are rather missing the point - the long term trend average house price to average income was 3.5 before the latest mega bubble skewed the trend upwards to about 4.

Just because something has been the trend in the past, in no way guarantees it will be the trend in the future.

If the Bulls are right about population growth and building lagging the addition of people, the trend for the next 50 years may well be 4.5 times or even 5 times income.

If a global pandemic takes out half the population, you may well get a house for free......... If you survive.

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Just because something has been the trend in the past, in no way guarantees it will be the trend in the future.

If the Bulls are right about population growth and building lagging the addition of people, the trend for the next 50 years may well be 4.5 times or even 5 times income.

If a global pandemic takes out half the population, you may well get a house for free......... If you survive.

You live in a dreamworld. Lending to those ratios is guaranteed default at some time, sooner or later. There's no slack in the money coming in to allow for increases in rates or a child popping out.

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