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rob, Sun 1 Apr 2001, 1:00)
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On the subject of house price inflation vs wage inflationHave a pearoast.
I was born in Coventry.
I was actually born in a house on a 1958-9 built estate that my parents bought in 1959.The estate was built for the skilled men of the city (once upon a time Coventry was "the toolroom of the world"), it's a mixed development. No builder was allowed to build more than 20% of the houses so there's some variety in design. There's terraced, semis, detatched and bungalows, all mixed in. Loads of green spaces, trees, schools, shops and pubs.
I still live on the same estate*, I bought my own house on it, my children grew up on it, they went to the local schools etc.
It was always easy to know how much your house was worth. The local rag used to produce a list of "Toolroom average" pay across the city. The terraced houses were a shade under two years worth of a skilled man's salary, the end of terraces about two years' worth and the detatched about two and a half years' worth.
When you needed a mortgage the banks knew how much you could afford and lent accordingly. I bought my house on my basic wage alone, without overtime etc, because we wanted children and I knew that if we bought including her wages, we could never afford it.
Today, if I was a toolmaker in Coventry, I'd have to be earning £77,000** a year to buy the same house on the same deal from the bank.
Genuine question. Where did this massive price hike come from? The house is no bigger. It has no better amenities, it's not been encrusted with diamonds with hot and cold running nyphomaniacs in every room yet it's now three or more times a toolmaker's salary!
Lending became irresponsible. How can a bank lend 125% of an asset's market value, unless they're relying on a housing market bubble, THAT THEY THEMSELVES CREATED FFS!
They fucked up and we're bailing them out.
No hummus. Just remember, next time you see a banker, terminate with extreme prejudice. It's the only language they deserve.
Cunts.
Couple of edits.
* I no longer live on the estate
** that figure is now £79000.00
(, Mon 21 Nov 2011, 11:25, 2 replies, latest was 13 years ago)
Thank you Captain Placidd but I'm really not here to hear long winded stories about house buying.(
G/PP 💩💩💩💩💩€, Mon 21 Nov 2011, 11:31,
Reply)
www.direct.gov.uk/en/EducationAndLearning/QualificationsExplained/DG_10039024
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G/PP 💩💩💩💩💩€, Mon 21 Nov 2011, 11:34,
Reply)
If you read it backwards it says 'kill yourself'(
Naked Ape call me Caitlyn, Mon 21 Nov 2011, 11:35,
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don't think i know how to read backwards, most of my writing is backawartds anyway!(, Mon 21 Nov 2011, 11:36, Reply)
I read that as house bullying.That's what comes of no sleep.
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b3th Not shit. Not mod., Mon 21 Nov 2011, 11:36,
Reply)
you should see somebody about your obsession(
rachelswipe with a fork, Mon 21 Nov 2011, 11:43,
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Hahaha.What I got, young man, is a good old fashioned case of bronchitis.
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b3th Not shit. Not mod., Mon 21 Nov 2011, 11:45,
Reply)
oh godmy fucking trainee has this. it's been about 3 weeks now. every time she coughs i want to smash her skull in and scream STOP THAT FUCKING NOISE.
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rachelswipe with a fork, Mon 21 Nov 2011, 11:47,
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Yeah, there's certainly a disconnect between house prices and salaries .It cannot all be due to lack of supply. It would take 4-5times my salary to buy a 1-bed flat in my area and I earn an average wage and live in a rough area. then again: London.
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CQ Knows the truth, all of it., Mon 21 Nov 2011, 11:46,
Reply)
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