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A Quarter Of Homes Earn More Than Their Owners

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http://www.express.co.uk/finance/personalfinance/646790/UK-house-prices-rising-faster-than-earnings-in-quarter-of-areas

BRITAIN'S house prices are rising so fast that a growing number of homes now 'earn' more than their owners, according to new analysis.

Martin Ellis, housing economist at Halifax, said: “The housing market recovery over the last few years has led to substantial price rises in some areas of the country, particularly in London, the south east and the east of England. "This has resulted in homes increasing in value by more than total take-home earnings for the average homeowner in many areas of the country.

"Clearly, this is good news for some homeowners. However, it does make conditions tougher for those looking to buy their first home in such areas, with prices being pushed increasingly out of range for many young people.”

Probably a London centric thing, however, it is batsh1t insanity.

Martin Ellis is the new Captain Obvious?

This is clearly a sustainable trend...

Which will end well...

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My average 50 year old house is like a 50 year old provincial employee who has hit their employment ceiling and has consequently seen little if any wage growth since they were 45.

Can't say that the employee or the house are bothered though.

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My first house between 2000-2006 achieved this. By comparison my 2nd house is lazy and doesn't work hard for the economy.

You should have bought a derelict building in SE England in 06 and let it crumble for 10 years, such places worked much harder for the economy than most men.

Edited by The12YearWait

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My first house between 2000-2006 achieved this. By comparison my 2nd house is lazy and doesn't work hard for the economy.

.....the crappy house did, the better house in a nicer place doesn't earn nearly so much.....suits me fine.

To be honest......I wouldn't care if it didn't earn anything ever.....have no intention in ever spending the house or borrowing against it. ;)

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By comparison my 2nd house is lazy and doesn't work hard for the economy.

I'm sure my house is working really hard and everything - but I don't seem to see any of it. It doesn't even contribute to the bills - even house maintenance comes out of my wallet. I'll have to have a word with it.

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My house was valued at £250k in 2014. An identical one just sold for over £325k so £75k of tax free profit.....except it is fantasy money unless I move elsewhere.

And in fact I've spent well over £7k on house repairs (boiler, guttering, doors) in that time too.

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Your house does all that work and you are too lazy to call or walk to the bank and MEW?

But that sounds like me taking on debt on behalf of the house, but I'd still be the one to pay it off! Seems like the house has me by the balls - Either I stick with the house, or I get the cash but then get wet whenever it rains. Pah.

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It really is 2007 all over again.

No, in 2007 there was no such thing as QE, 0.5% interest rates, FFL, HTB 1 and 2, HTB ISA's, bailing out banks, bailing into banks etc...

In 2007 a crash was guaranteed, economic fundamentals were there for all to see.

In 2016, negative rates look as if they're going to get rolled out if the economy contracts by a mere -0.1% or if inflation goes negative. More QE is to be served, HTB could go higher than 20% outside of London.

At the slightest chance of prices correcting in the property market the state is desperate to jump in and help those who have borrowed and lent.

Its fckn insanity and it just seems to be getting worse.

Edited by The12YearWait

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No, in 2007 there was no such thing as QE, 0.5% interest rates, FFL, HTB 1 and 2, HTB ISA's, bailing out banks, bailing into banks etc...

In 2007 a crash was guaranteed, economic fundamentals were there for all to see.

In 2016, negative rates look as if they're going to get rolled out if the economy contracts by a mere -0.1% or if inflation goes negative. More QE is to be served, HTB could go higher than 20% outside of London.

At the slightest chance of prices correcting in the property market the state is desperate to jump in and help those who have borrowed and lent.

Its fckn insanity and it just seems to be getting worse.

You're not wrong.

However, show me one pyramid or ponzi scheme that has not collapsed?

The desperation is there for all to see.

The crazy bit for me is fuelling the pre election mega bubble.

Some people really do think this is free unlimited money that will just keep going up and up and up.

Something will give eventually.

It's a long wait.

Could be a disaster for us all.

The insane prices says this cabby is going down soon.

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On the bright side we've got the +3% stamp duty in about 5 weeks. Then the other tax changes from April 2017 (only just over a year away).

Also, some people are campaigning for Brexit as it will give a 20% discount on houses :D

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However, show me one pyramid or ponzi scheme that has not collapsed?

The desperation is there for all to see.

The crazy bit for me is fuelling the pre election mega bubble.

Some people really do think this is free unlimited money that will just keep going up and up and up.

Something will give eventually.

It's a long wait.

Could be a disaster for us all.

The insane prices says this cabby is going down soon.

It'll collapse but does it take my deposit which is pretty much enough to buy an OK 2010-13 priced house outright.

The desperation is on all sides, i just can't believe its 9 f'en years and prices are more insane than ever and rising. I'm even willing to pay about 40-50% over fair value for a shi77y f'en 90m2 3 bed house on the basis interest rates won't rise, i just think people are taking the pi55 asking me to pay 100% over fair value which is where we are now at.

Brown saved himself, not the world the deluded fkcn useless one eyed cnt.

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On the bright side we've got the +3% stamp duty in about 5 weeks. Then the other tax changes from April 2017 (only just over a year away).

Also, some people are campaigning for Brexit as it will give a 20% discount on houses :D

I'm hoping Gidiot gives us a little more in next months budget.

I'd be happy if he ended HTB 2 with immediate effect, even if it meant swapping it for a more generous HTB 1 for fukwits outside of London looking to buy newbuilds.

Or if he brought the landlord tax changed forward.

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All the talk seems to be of pensions.

There could be more hell to come: more "help"... but HTB 60% or whatever... just seems a bit ridiculous. Maybe he's put his burger aside and moved on to the popcorn.

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