JoeDavola Posted August 29, 2016 Author Share Posted August 29, 2016 And why not? There's some weird belief that if you don't buy a house you'll die a failure. Hang in there and wait for the crash. Boom and bust was not abolished, despite what we were told. By a Scot. Another crash in Northern Ireland? In nominal terms? I'd love to think that will happen, but everything seems to be stacked against it. Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 29, 2016 Share Posted August 29, 2016 Another crash in Northern Ireland? In nominal terms? I'd love to think that will happen, but everything seems to be stacked against it. London. It happened before, it'll happen again. Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 29, 2016 Share Posted August 29, 2016 (edited) remember the glass I had in Stellenbosch. Don't forget the glass of Stella in Bushmills. Edited August 29, 2016 by yadayada Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 30, 2016 Share Posted August 30, 2016 Don't forget the glass of Stella in Bushmills. Or the bucky in Botanic. Priceless. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted August 30, 2016 Author Share Posted August 30, 2016 Or the bucky in Botanic. Priceless. Bucky in Botanic? Posh git. White Lightning in Orangefield! Quote Link to comment Share on other sites More sharing options...
calm-on-the-surface Posted August 30, 2016 Share Posted August 30, 2016 Indeed it all comes down to preference and how achievable the goal is. Where I moved from the average home (not house and more likely a flat) costs 11 times the average salary. 550k would get you a 3 bed that needs gutting. Young Nurses, Teachers, care workers and anyone else earning less than the average wage (37.5k) has no hope of ever buying any home. They are victims of the Neoliberal lie that working will make you rich. Being from money makes you rich. Choosing 6 winning lottery numbers is as good a plan as working hard. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 30, 2016 Share Posted August 30, 2016 Indeed it all comes down to preference and how achievable the goal is. Where I moved from the average home (not house and more likely a flat) costs 11 times the average salary. 550k would get you a 3 bed that needs gutting. Young Nurses, Teachers, care workers and anyone else earning less than the average wage (37.5k) has no hope of ever buying any home. They are victims of the Neoliberal lie that working will make you rich. Being from money makes you rich. Choosing 6 winning lottery numbers is as good a plan as working hard. +1 Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted August 30, 2016 Share Posted August 30, 2016 And on that note... have we all got our tinfoil hats on... Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 31, 2016 Share Posted August 31, 2016 And on that note... have we all got our tinfoil hats on...No. Surely picking six winning lottery numbers is a better plan than working hard? Is that not the point?I'm still a virgin as far as lotteries go. One in 14,000,000 always seemed to be too much to hope for. Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted August 31, 2016 Share Posted August 31, 2016 luckily, in NI the average price of a house is still under £125,000 Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 31, 2016 Share Posted August 31, 2016 luckily, in NI the average price of a house is still under £125,000 Unluckily the average (median) FT private sector employee is paid 22,000 a year. or 5.7 times the average price of a house. Quote Link to comment Share on other sites More sharing options...
calm-on-the-surface Posted August 31, 2016 Share Posted August 31, 2016 Where I am buying the average price is 112k and 4.5 times average salary so based on mortgage lending multiples the ceiling has been hit. I can not foresee a huge crash (like 2008) even with Brexit but the market has certainly slowed to a crawl. Properties that I would say are heavily overpriced are sitting for ages then reappearing with a new agent and a tiny reduction in price (£1.5k in most cases), as if that is the trick will make it sell. Brexit is apparently going full steam ahead though so things are going to get a lot more unsettled before long. Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted August 31, 2016 Share Posted August 31, 2016 Unluckily the average (median) FT private sector employee is paid 22,000 a year. or 5.7 times the average price of a house. and are single or single income private sector employees the only purchasers of property in NI Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted August 31, 2016 Share Posted August 31, 2016 No. Surely picking six winning lottery numbers is a better plan than working hard? Is that not the point? My point was that this all started to sound like we are all horribly badly done by and that the world is out to get us. To be honest, it was starting to read precisely as this forum was once stereotyped. It is clear that there are several posters who are doing quite well and really have no place to be paranoid about everything so somewhere along the line you have to decide whether to be a permanently scared hermit or to get on and live your life. Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 31, 2016 Share Posted August 31, 2016 and are single or single income private sector employees the only purchasers of property in NI The public sector average pay is higher because the need for unskilled staff is lower. Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 31, 2016 Share Posted August 31, 2016 My point was that this all started to sound like we are all horribly badly done by and that the world is out to get us. To be honest, it was starting to read precisely as this forum was once stereotyped. It is clear that there are several posters who are doing quite well and really have no place to be paranoid about everything so somewhere along the line you have to decide whether to be a permanently scared hermit or to get on and live your life. Was this forum not for the fortunate citizens who were delighted at their new found ability to buy a house for half of what it would have cost in 2007? A sort of gloaters anonymous - my name is yada and I like to frolic. Quote Link to comment Share on other sites More sharing options...
martymcfly Posted August 31, 2016 Share Posted August 31, 2016 No. Surely picking six winning lottery numbers is a better plan than working hard? Is that not the point? I'm still a virgin as far as lotteries go. One in 14,000,000 always seemed to be too much to hope for. The jackpot is now one in 45,000,000 since they increased the number of numbers to choose from last year. Quote Link to comment Share on other sites More sharing options...
yadayada Posted September 1, 2016 Share Posted September 1, 2016 The jackpot is now one in 45,000,000 since they increased the number of numbers to choose from last year. Since that is much larger than the number of potential players, do rollovers happen pretty much every week? Quote Link to comment Share on other sites More sharing options...
martymcfly Posted September 1, 2016 Share Posted September 1, 2016 Since that is much larger than the number of potential players, do rollovers happen pretty much every week? I think so yes, although that was the main point of making the change, bigger jackpots = higher sales. Quote Link to comment Share on other sites More sharing options...
yadayada Posted September 1, 2016 Share Posted September 1, 2016 More losing tickets then. Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted September 1, 2016 Share Posted September 1, 2016 The public sector average pay is higher because the need for unskilled staff is lower. The above statement is a matter of opinion, However; The important Ratio is the household income for the First Time buyer against the average price of the average First Time buyer house price, regardless of what sector they work in. Nationwide (who I know have a lower NI share of the market than they used to) gives out info on this. They have the "First Time Buyer Gross House Price to earnings Ratio" for N Ireland at 3.8 compared to 5.3 for the UK as a whole. Its 10 for London and over 7 for Outer Met areas. N Ireland pushed this ratio to 8 in 2007 and we know what happened then. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted September 2, 2016 Share Posted September 2, 2016 The above statement is a matter of opinion, However; The important Ratio is the household income for the First Time buyer against the average price of the average First Time buyer house price, regardless of what sector they work in. Nationwide (who I know have a lower NI share of the market than they used to) gives out info on this. They have the "First Time Buyer Gross House Price to earnings Ratio" for N Ireland at 3.8 compared to 5.3 for the UK as a whole. Its 10 for London and over 7 for Outer Met areas. N Ireland pushed this ratio to 8 in 2007 and we know what happened then. Too small a % of the market to offer any real insight to FTB multiples in N.I. IMO. The NIPPI has it at 4.3 for all buyers, with an average salary of 25.5k. In 2007 it was 9.1 with an average salary of 21k. Quote Link to comment Share on other sites More sharing options...
yadayada Posted September 2, 2016 Share Posted September 2, 2016 The above statement is a matter of opinion. Is it? It's easily demonstrated. Also more public sector jobs require degrees. Quote Link to comment Share on other sites More sharing options...
calm-on-the-surface Posted September 2, 2016 Share Posted September 2, 2016 The jobs do not require degrees, a degree is merely used to wittle down the numbers that apply. 2 of the biggest employers of graduates in the uk are McDonald's and wetherspoons. Quote Link to comment Share on other sites More sharing options...
yadayada Posted September 2, 2016 Share Posted September 2, 2016 The jobs do not require degrees, a degree is merely used to wittle down the numbers that apply. 2 of the biggest employers of graduates in the uk are McDonald's and wetherspoons. Well, doctors, engineers, dentists.... Quote Link to comment Share on other sites More sharing options...
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