House prices
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Topic: House prices
Posted By: chopper
Subject: House prices
Date Posted: February 16 2018 at 07:36
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Given the current average house prices in the UK, especially in the South-East, does this really come as a massive surprise to anyone? http://www.bbc.co.uk/news/business-43075099" rel="nofollow - http://www.bbc.co.uk/news/business-43075099 I have no idea how my children will be able to afford to buy their own house without my help.
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Replies:
Posted By: Vompatti
Date Posted: February 16 2018 at 07:47
| Supply and demand. |
Posted By: siLLy puPPy
Date Posted: February 16 2018 at 08:11
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^ It's more complex than just simple supply and demand although that is definately the major factor. Each country that engages in Keynesian economics experiences market manipulations by the state due to the destructive effects of bubbles occurring in the imperfect system (the reason we have total economic collapses that need to be bailed out). It also encourages speculation in housing prices which means investors buy up properties and hold onto them so they can unload them at peak price spikes. In effect, there are a minority of wealthy elites who own a majority of the property on the market alongside a huge number of those who don't with the most vulnerable of society finding themselves unable to sustain any sort of housing at all. I've taken a great interest in these things since the 2008 financial collapse and it all makes sense once the invisible mechanisms of control are exposed. The housing game is much like the stock market in many ways these days as legal protections have been eroded in many Western countries in the last 50 years. -------------  https://rateyourmusic.com/~siLLy_puPPy |
Posted By: Blacksword
Date Posted: February 16 2018 at 08:36
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The ambition of homeownership will be a thing of the past very soon in the UK and we'll move to a rental model. Home ownership will be very much an elitist concept in the years to come, and only top earners will be buying property, and much of that will be to rent out to the rest of us at very great cost. ------------- Ultimately bored by endless ecstasy! |
Posted By: chopper
Date Posted: February 17 2018 at 11:15
Yep, it's certainly heading that way. I think I read the average deposit required was around £36,000. The only way I can see my sons having that kind of money in a reasonable amount of time is if I sell our house, downsize/move somewhere cheaper and give them the money left over. |
Blacksword wrote:Posted By: Frenetic Zetetic
Date Posted: February 18 2018 at 15:18
This guy gets it. ------------- "I am so prog, I listen to concept albums on shuffle." -KMac2021 |
Posted By: Squonk19
Date Posted: February 18 2018 at 17:35
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Simple solution! Move up to the North East of England! You'll be able to buy a Manor House for the price of a Home Counties bedsit! Only drawback is there are hardly any jobs, all the football teams are rubbish, prog groups never seem to make it past the Midlands and we talk a bit funny - but we're a friendly lot and the scenery is breathtaking! God's own country!  ------------- “Living in their pools, they soon forget about the sea.” |
Posted By: MillsLayne
Date Posted: February 18 2018 at 19:10
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Take a look at housing prices in San Francisco and the whole Bay Area, in general. It's absolutely ridiculous! ------------- http://gamercards.exophase.com/xbox/user/MillsLayne/" rel="nofollow">  ht |
Posted By: Magnum Vaeltaja
Date Posted: February 18 2018 at 20:32
^ Indeed...  Vancouver here - right back at you. ------------- when i was a kid a doller was worth ten dollers - now a doller couldnt even buy you fifty cents |
Posted By: chopper
Date Posted: February 19 2018 at 07:10
I suspect that may be the long-term solution for my kids, but then that might mean the same for everyone else which will lead to a price rise in the North East as well.
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Posted By: Vompatti
Date Posted: February 19 2018 at 08:12
| How about buying a plot of land in the woods and building a small cabin? Doesn't necessarily cost more than a few thousand pounds and you'll save a lot in heating compared to a multi-roomed house. |
Posted By: Blacksword
Date Posted: February 23 2018 at 05:31
I'm guessing that's a national average. Average cost of a flat in the south east is £261,000. Even on a combined income of £54K (mortagage 3 x £54K) based on two average incomes of £27,000, you'd need a deposit of £99,000 (plus fees). I suspect this is for a two bedroom flat. A one bedroom place is more feesible as a couple, but even so on avarage wage, and with a sizeable deposit, you won't have much disposable income each month. ------------- Ultimately bored by endless ecstasy! |
Posted By: Cosmiclawnmower
Date Posted: February 23 2018 at 14:10
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Our middle Son (who is in the military) and fiancé (who's a nurse) have just got on the property ladder but that's only because the Military offer an up-front deposit that you pay back through your wages at zero % interest but even then its really high re-payments for them and I don't know how theyre going to do it. Our daughter and her kids has luckily managed to get an apartment in a charity built and owned set up which is capped at a low rent which has meant she can actually afford to go back to work full time! The other two, well god only knows... I guess ive been lucky in some respects, ive always worked in a job that comes with a house and we were able to get a mortgage on a little terrace place and rent it out which will eventually be our retirement home when i'm no longer physically able to do what I do! ------------- |