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Do you earn enough to be in Britain's richest 1pc?

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https://www.telegraph.co.uk/tax/income-tax/do-earn-enough-britains-richest-1pc-find-salary-ranks/

£166,000 apparently and less than the previous year.

Fag packet crappy analysis follows.....

Assuming a 4x mortgage and 20% deposit = £830,000 is "affordable".  You get 98.7k in your pocket so if you manage to save half your salary (unlikely) it would take you 3/4 years to save the deposit.

Wonderful Norfolk has an average salary less than Derby @ sub 450£ per week (23,500£).

Wages are shite here a 1% nationally is more like a .25% here.

There are 189 advertised properties today you cannot afford 2+% of all properties advertised as a national 1% er.

10% (897) of properties listed are over 500,000 3x salary

Assuming you want a detached house over 3 bedrooms 136 of them are unaffordable which is 4.7%.  674 of the houses are over 500K which is a nutty 23% of the total shit-holes to mansions.

I have had high earning years but being self employed (in Norfolk a minuscule number of salaried employees will be on this sort of money) why would anyone with a <1% job make a bet they will have that earning capacity for 20+ years.

Even if you are on 60,000 you are in the top 3%ers 60,000 x 4 = 240,000 + 20% deposit £300,000 without equity a top 3%er nationally cannot afford 2097 of the 2837 advertised detached 3 bed and above houses in a rural low wage county 73% of them.

 

 

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Only first time buyers without help from parents buy their houses with salaried income. People buy houses with the money their previous house made for them, using the leverage of the mortgage to multiply the returns.

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26 minutes ago, voldemort said:

Only first time buyers without help from parents buy their houses with salaried income. People buy houses with the money their previous house made for them, using the leverage of the mortgage to multiply the returns.

Not any more, they get help to DEBT on an orrible newbuild slavebox 

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31 minutes ago, voldemort said:

Only first time buyers without help from parents buy their houses with salaried income. People buy houses with the money their previous house made for them, using the leverage of the mortgage to multiply the returns.

I understand that.

But it's still nuts though

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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