Thursday, May 28, 2009
Excellent Chart of Income
The BBC show a chart of income distribution which shows how the average is arguably less than we think, in that it is pulled higher by the long tail. Its amazing to see this compared to asking prices on Rightmove. Today I saw a detached house for £450,000 (18.5x salary) with only two bedrooms and less floor space than a 1 bed flat I once rented. What I find more amazing is that when you talk to people about this lunacy they have such a hard time seeing the problem. I would LOVE to see an earnings multiple per sqm legally displayed against each home - a proper side-by-side comparison of ripoffitude. More than that, I'd love to see at the start of The Apprentice; "..and a six figure salary, where Sir Alan's Apprentice could afford a 3-bed semi. Wooo." Wunch of bankers.