Jump to content
House Price Crash Forum
interestrateripoff

Cost Of Running A Home In The Uk Now Almost Half Of All Household Income

Recommended Posts

that would be half GROSS income I think.

unless you are a couple, which a number of people are not.

if you are a singleton in an apartment the percentage is actually higher(probably more like 2/3 of net income)

rent is about 2/3 the price of a 3 bedder

council tax+utilities still need to be paid.

you still need to eat

the economic "sweet spot" for the country is about 1/3 on housing costs, so the rest can get recycled into the rest of the economy.

anything more than that and the retail sector dies( actually doing that now)

same for manufacturing.the national "sweet spot" for that is about 20%, and it's now something like 8%.

Edited by oracle

Share this post


Link to post
Share on other sites

Not sure if i'm quite right, but if housing costs reduce then the banking sector would have to shrink. So it's then a fight between cheap Chinese goods, banking and taxes.

Share this post


Link to post
Share on other sites

Not sure if i'm quite right, but if housing costs reduce then the banking sector would have to shrink. So it's then a fight between cheap Chinese goods, banking and taxes.

The sector that does nothing productive but issue out loans of invented money? Why is this sector so sacred? We sacrifice everything for it.

Share this post


Link to post
Share on other sites

All depends what your income is and how many commitments and how much debt there is to service the more you have the greater the income you will need....less can be more.;)

Edited by winkie

Share this post


Link to post
Share on other sites

What could possibly go wrong here?????

Work pays they say, for whom though?

Share this post


Link to post
Share on other sites

Not sure if i'm quite right, but if housing costs reduce then the banking sector would have to shrink. So it's then a fight between cheap Chinese goods, banking and taxes.

The banking sector will be one of the first to be fully automated. It is a very low skill job especially compared to driving a van or picking up litter.

Share this post


Link to post
Share on other sites

Five children in a one bed flat....not unheard of. ;)

I once had with 9 people staying in a 3 bed, 2 bathroom flat. It was a lot better than it sounds. It was partly due to people visiting us and someone who due to their own stupidity was homeless and having to rent out a room to pay the mortgage.

Share this post


Link to post
Share on other sites

I once had with 9 people staying in a 3 bed, 2 bathroom flat. It was a lot better than it sounds. It was partly due to people visiting us and someone who due to their own stupidity was homeless and having to rent out a room to pay the mortgage.

I agree been there and lived it myself....more the merrier. ;)

Share this post


Link to post
Share on other sites

I agree been there and lived it myself....more the merrier. ;)

my idea of hell TBH.

fine in your student days tripping over a load of slumbering corpses who couldn't make it back to their own halls of residence that particular night, but when you're trying to raise a young baby,they require a bit more care and attention to detail than some 20-odd year old slob who fancied a fry up in the middle of the night and left the cooker on.

Share this post


Link to post
Share on other sites

my idea of hell TBH.

fine in your student days tripping over a load of slumbering corpses who couldn't make it back to their own halls of residence that particular night, but when you're trying to raise a young baby,they require a bit more care and attention to detail than some 20-odd year old slob who fancied a fry up in the middle of the night and left the cooker on.

Fair enough....but kids born into certain circumstances do not have the same choices...they do not have choices.....they get what they are given, that can well turn out to be a blessing in disguise.;)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   12 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.