Latest Peice Of "genius" From Some "think" Tank!

[ToraToraTora]

So us older folk who have worked and saved all our lives must bale out the kids because the little darlings are finding it too difficult? Life is difficult life is unfair, get on with it.

[cassa333]

The young should do it the same way I and lots of other people did.

Start out small and uplift whenever possible. Get a second job. Don't squander it on the latest tech and a bender every weekend and stay away from the fashion houses.

[New Judge]

“The issue is you're doing multiplications, not looking at the difference in % increase of the housing prices VS the % increase in the wages received.”

Er…er…Let’s have a look at sunny-dave’s numbers and, as they say “do the maths” instead of blindly rattling off unfounded “facts”:

“Terrace house in my small town now £125,000. 1976 - same house about £11,000,” (Increase is 1,136%).

“starting salary for a teacher £25,000 (now) starting salary for a teacher about £2,300 (1976).” (Increase is 1,087%).

It’s blindingly obvious (except perhaps to Dianne Abbott) that if the “multiplier” is about the same then the percentage increases of the component parts must be about the same. Back to school for you, spathi.

The difference in percentage increases demonstrated by Dave indicate that in many places the percentage increase in salary and the increase in house prices is much the same. Only when you look at places like London does it become skewed. When taking account of the fact that mortgages are considerably cheaper now and tax rates in the main considerably lower, today’s first time buyers are somewhat better off.

“The most obvious one is demand outstrips supply, so build more houses.”

Er, no. Building more houses will simply encourage more demand. The answer is to reduce demand by restricting immigration and discourage people already here from having children.

“…petrol now just over £1 per gallon,”

Tell me where, bhg, and I'll be round to fill up! :-)

[bhg481]

NJ - I wondered who'd be the first to spot that one (I still think gallons for petrol). Getting the units right makes petrol about the same per gallon as it was then, but we do get about twice as many mpg, so lower overall costs.

[Ryzen]

So they want another £10k to put towards a house...they already get 25% deposit from the Help To Buy rip off. Its no wonder the construction bosses are creaming up to £100M in bonuses.

[Garaman]

//Maybe because (with the exception of parts of London and a few other hot-spots) it is absolute rubbish - repeating a falsehood a thousand times doesn't make it any less false. //

That statement is absolute rubbish.

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/1997to2016

[dunnitall]

IMO if the young didn't live above their means...( credit cards and we can have what we want) then like us in our younger days...we only got what we could afford, went without TV because household appliances needed to be bought when we could... Nowadays, they see summat, want it, get it and pay over 4 or more years!

Sorry folk..... It's maths... Can't afford NOW... Can't have. Also IMO if the man and woman didn't both work....(sometimes for extras such as holidays et al rather than necessities) then house prices would be as they should...not exorbitant and unaffordable now because people live beyond their capability of paying for a mortgage.

Surely this all makes sense...well it did in my day and one valued everything we got and felt proud we achieved our goal. Not cloud cuckoo land...it's called reality.

[hereIam]

Brilliant post dunnitall and very true.

[Garaman]

//Sorry folk..... It's maths...//

At last someone has got it! The youth of today have to save more than we did to get the same thing; it is simple maths.

[Ryzen]

Tax on profits on your main residence...its only around the corner.

[Baldric]

On the News,according to the Halifax, house prices dropped by 3.1% last month, does that alter the Equation at all?

[webbo3]

we had it easy did we, look at the interest rates back in the 80's
http://www.houseweb.co.uk/house/market/irfig.html

this place sprung up in Bristol and ended up being called sadly broke.

http://news.bbc.co.uk/1/hi/england/bristol/6227609.stm

[Togo]

//Tax on profits on your main residence...its only around the corner. //

You may well be correct there Ryzen. Oh how the Snowies will clap and skip. But....but.....We oldies have not got to long to endure it. No tax, once introduced, has ever been cancelled. The ones who are calling for it the loudest will end up paying it the longest. :))

[Baldric]

Self-inflicted Injury ^^ Ha Ha!

[Jackdaw33]

//No tax, once introduced, has ever been cancelled. \\

Not quite true, Togo.

https://en.wikipedia.org/wiki/Selective_Employment_Tax

[Togo]

True enough for purpose though Jackdaw...……..Perhaps we can inspire them to actually think. Instead of snapping at every bait trawled across their ravenous gobs.

[Spicerack]

Quite right, Spath. I thought it was a well known fact that average houses cost 3x annual average salary in 70's, 12x today.
Anyone who earned £20 a week in the 70's was either an apprentice or a lazy bludger.
All these tales of hardship, lol. Ask them about their 100% mortgages. (even 120%) Like that, wouldn't you, Spath? Not only move into a house with no downpayment. They give you £40 or £50,000 to spend on disgusting coral pink bathroom sets & similar trash they used to spend their(your) money on.
And now you're paying their feather-bedded pensions. Youngsters like you will either work until you're 90 or just get put down like an old cart-horse when you're worked out.

[tamborine]

Give em 10 grand and theyll blow it in one day on their 'princess' wedding.

Oh wait, we already fork out for that :(