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Snugglybear

Grauniad Says Houses Are Too Expensive

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Havent read it, but let me guess no mention of mass immigration on unheard of scales without corresponding increase in infrastructure?

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C**p. Median income of £24,600 in London is £1,651 pcm after tax.

A 90% mortgage on £300k would cost £1,364 pcm

Add in £200 for council tax and £100 for Heat/Light and that is 100% of your take home pay.

Even in this mad world no one is doing that. But it would signify an absolute peak.

Edited by CunningPlan

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Ahh finally, an article that actually talks in honest 'median' averages instead of dishonest 'mean averages.

In 1995, the median income in London was £19,000 and the median house price was £83,000, meaning that people were spending 4.4 times their income on buying a property. But by 2012-13, the median income in London had increased to £24,600 and the median house price in the capital had increased to £300,000

And this is the truth, in the last 20 years, the actual typical income people receive, has hardly budged at all. The mean is skewed by a few raking it in. We are NOT a rich country.

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Ahh finally, an article that actually talks in honest 'median' averages instead of dishonest 'mean averages.

In 1995, the median income in London was £19,000 and the median house price was £83,000, meaning that people were spending 4.4 times their income on buying a property. But by 2012-13, the median income in London had increased to £24,600 and the median house price in the capital had increased to £300,000

And this is the truth, in the last 20 years, the actual typical income people receive, has hardly budged at all. The mean is skewed by a few raking it in. We are NOT a rich country.

the stat about median salaries in London deserves an article in its own right.

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C**p. Median income of £24,600 in London is £1,651 pcm after tax.

A 90% mortgage on £300k would cost £1,364 pcm

Add in £200 for council tax and £100 for Heat/Light and that is 100% of your take home pay.

Even in this mad world no one is doing that. But it would signify an absolute peak.

I hate to break this to you, but the people buying the houses aren't those working for the money. The link between hard work and owning your own home was broken about 10 years ago. It's now all about who's had previous capital gains or is related to, or inherits from someone else who has had previous capital gains.

#neofeudalism

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Are house prices really that expensive ?

Kent 3 bedroom terraced house for sale

Bloomfield Road, Bromley Kent

£499,999

http://www.rightmove.co.uk/property-for-sale/property-54322343.html

55834_840_IMG_11_0001_max_135x100.jpg

Le Touquet Northern France:

http://www.rightmove.co.uk/overseas-property/property-51856007.html

10 bedroom manor house for sale

£468,929

91597_91597_171522_IMG_00_0000_max_135x1

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I hate to break this to you, but the people buying the houses aren't those working for the money. The link between hard work and owning your own home was broken about 10 years ago. It's now all about who's had previous capital gains or is related to, or inherits from someone else who has had previous capital gains.

#neofeudalism

The housing market sounds a bit like......one of these:

https://en.wikipedia.org/wiki/Pyramid_scheme

PyramidSchemeMS.jpg

or maybe, one of these

https://en.wikipedia.org/wiki/Ponzi_scheme

220px-Charles_Ponzi.jpg

:lol::lol::lol::lol::lol:

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Ahh finally, an article that actually talks in honest 'median' averages instead of dishonest 'mean averages.

In 1995, the median income in London was £19,000 and the median house price was £83,000, meaning that people were spending 4.4 times their income on buying a property. But by 2012-13, the median income in London had increased to £24,600 and the median house price in the capital had increased to £300,000

And this is the truth, in the last 20 years, the actual typical income people receive, has hardly budged at all. The mean is skewed by a few raking it in. We are NOT a rich country.

Indeed. £19k was a liveable salary in London in 95. I was at Uni back then, but I rented a decent room in a house in Zone 2 for less than £150pm.

£24k now is absolute poverty pay. Cheapest rent in London - £600pm for an absolute craphole miles away from any transport links. - Buying or bringing up a family on that? Without receiving massive benefits - Forget it!

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Are house prices really that expensive ?

Kent 3 bedroom terraced house for sale

Bloomfield Road, Bromley Kent

£499,999

http://www.rightmove.co.uk/property-for-sale/property-54322343.html

55834_840_IMG_11_0001_max_135x100.jpg

Le Touquet Northern France:

http://www.rightmove.co.uk/overseas-property/property-51856007.html

10 bedroom manor house for sale

£468,929

91597_91597_171522_IMG_00_0000_max_135x1

+1

yet France has an almost identical population figure to the UK and a similar number of households - and the GDP per capita is higher.

It must just be how the different countries are run.

France is more than twice as big as the UK but even so the area of the UK currently occupied by housing is very small.

At any rate Dave and George are on the case now and they've promised that soon the UK will be the richest country in the world but they'll certainly have their work cut out to close the gap in housing demonstrated in the images above.

Edited by billybong

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+1

yet France has an almost identical population figure to the UK and a similar number of households - and the GDP per capita is higher.

It must just be how the different countries are run.

Or who they are run by !!!

With every passing day there seems to be less and less reason to stay here.

Edited by TheCountOfNowhere

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Difference between France and the UK is that their planning laws are less restrictive.

And of course the state still builds (rather than rents, as it does here).

Edited by byron78

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Isn't immigration now even higher under the Tories?

Remember this "promise"

http://www.telegraph.co.uk/news/election-2010/7165000/conservative-manifesto.html

"But it says immigration is too high and promises to reduce net migration to “tens of thousands” a year, without giving any more details."

I guess most people thought this meant, 10, 20 thousand, not 300 thousand +

When does misleading people ( IMHO) to get elected become fraud ?

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Or who they are run by !!!

With every passing day there seems to be less and less reason to stay here.

And don't forget. That £468K asking price for the French "chateau" is probably too high. Priced to lure in a UK buyer. Go to the country direct and meet with the local EA or seller then negotiate, as French prices tend to quote the "best price" the seller hopes to get. In reality, almost everything is negotiated down in this French bear market..

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+1 and no mention of Labour's role in this.

Labour opened the door wide and lied for years about the extent and number of immigrants saying via the media that it was impossible to know the numbers when all they (including the media) had to do was check with the ONS.

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Labour opened the door wide and lied for years about the extent and number of immigrants saying via the media that it was impossible to know the numbers when all they (including the media) had to do was check with the ONS.

This is true.

But as the Count points out above, the Tories lied about immigration to get elected (promised to get it under 100K a year).

It's currently 300K+. At a record level and rising.

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This is true.

But as the Count points out above, the Tories lied about immigration to get elected (promised to get it under 100K a year).

It's currently 300K+. At a record level and rising.

+1

Indeed. Just to add that immigration is currently about 640K a year and net migration is about 330K - rising and apparently very rapidly. I think it's important to make the distinction as the official immigration figures are so massive (as are the net migration figures) and some say they're even an underestimate.

From the charts below the official immigration and net migration figures have been nassive for more than a decade now - beyond 2004 they tail down to about 1997 (the date when NuLabour first got in).

_81254354_net_migration_chart_v2.gif

chart1_tcm77-375469.png

Edited by billybong

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And don't forget. That £468K asking price for the French "chateau" is probably too high. Priced to lure in a UK buyer. Go to the country direct and meet with the local EA or seller then negotiate, as French prices tend to quote the "best price" the seller hopes to get. In reality, almost everything is negotiated down in this French bear market..

That listing has already been reduced :lol:

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Havent read it, but let me guess no mention of mass immigration on unheard of scales without corresponding increase in infrastructure?

Nope, it's still all Thatcher's fault.

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Hi

Note Ms Earley was quoted. She seems to have left the NW:

"Fionnuala Earley, residential research director at estate agents Hamptons International, said: “House prices have completely outstripped income growth. “The biggest factor is that in the run-up to the crash, interest rates were low, so you could afford to service a bigger mortgage then. There was also low inflation on essentials like food, fuel, transport and utilities, so people had more money in their pockets and were able to gear up for bigger mortgages.”

She still talks b*ll^cks tho. Obvious and cliched alike.

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Nope, it's still all Thatcher's fault.

You're probably right.

She started this madness. She allowed this madness to start.

Edited by TheCountOfNowhere

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