Tuesday, May 21, 2013

Governments just can’t stop themselves from using housing to stay in power

Average price of a home is now £250,000… that’s NINE times the typical salary

House prices have shot up so far that buyers must earn more than £62,000 - twice the UK's average salary - to afford the average asking price of quarter of a million pounds. New figures show that vendors are asking an average £249,841 - nine times the typical salary in the UK of £26,500. With mortgage firms typically lending a maximum of four times people's salary, borrowers on the UK's average wage could only obtain a mortgage of just over £106,000 - far below the new average asking price.

Posted by hpwatcher @ 08:18 AM (2424 views)
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8 thoughts on “Governments just can’t stop themselves from using housing to stay in power

  • The Tories have now completely given up trying to do the right thing, and are now – just like the Blair/Brown governments before them – just playing the house price inflation card to keep themselves in power.

    I won’t be voting Conservative again, ever. All those Whitehall based parties are exactly the same. They may talk different, but when it comes down to it, THEY ALL DO EXACTLY THE SAME THING.

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  • mark wadsworth says:

    HPW, so join YPP, you know it makes sense.

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  • happy mondays says:

    Mark, what’s the upper age limit? 😉

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  • i remember the 90`s says:

    UKIP surely .

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  • mark wadsworth says:

    HM, YPP has neither an upper nor a lower age limit, why would we? We don’t ask anybody their date of birth anyway, again, why would we?

    IRT90s, I used to be in UKIP, but on closer inspection they are the most Home-Owner-Ist of all the parties and complete shills for the banking and finance sectors. In the end I had to leave. I can’t campaign for that sort of nonsense.

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  • YPP. Oh the ‘Youth Possibilities Project’….never heard of them 😉

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  • Reallyneedtoregister says:

    Listening to C4’s news program yesterday evening, the article on the provision of free tax payer cash to the new home ‘buyers’. Article referred to the escalating ‘price’ of a new home, questions being asked of some new build manager – particularly as to why you don’t simply reduce the price of your houses if people can’t afford them. Response was simply centred on the complications of a price reduction, i.e. current ‘owners’ seeing their house ‘value’ fall, etc.
    From my perspective, and unmentioned, the other reason clearly is to keep the renting ‘class’ in the feudal system.
    As in the previous comment, sickening that Scameron, after Bliar, simply engineer everything for the next elections and the sheeple vote. If there was a box marked ‘none of the above’ rather than simply not bothering to vote, I wonder how many people would vote their despair.

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  • hang on, average salary may be 26500. many families have 2 adults working to get a mortgage, so double that to 53,000. add in a 10% deposit of 25k, meaning you borrow 225k, and the multiple is only 4.2, eminently sensible.

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