Monday, May 18, 2009
Why house prices are still way too high
Nothing new here, but a very good chart that shows household income in quintile groups. The bottom two quintiles comprise people in social housing and pensioners who can get by on a low income because their houses are paid for; but look at the middle sector - the third quintile. These are the 20% of households for whom houses must be affordable to buy; for whom 20% of our housing stock must be readily affordable. These are people who need housing that costs no more than £75k. Try looking to see what percentage of homes for sale cost less than that..