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exiled CITY AFC

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#1
17/10/2017 at 09:41

Grim up north

Foreign buyers needed 

Let it never be said that I was silent when they needed me - William Wilberforce 

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essexgull

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#2
17/10/2017 at 14:41

I read that earlier, it's interesting.

Indicates that the housing crisis is a myth and that it's just supply and demand in the high demand areas of London, the South East and a few booming areas of the north.

Should the tax payer be funding the young and low salaried to live in highly desirable areas... Its always good to see figures that counter balance the general argument.


ESSEX GULL  

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candw

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#3
17/10/2017 at 14:52

Are you suggesting that nobody wants to move to areas where there are no jobs, or only low paying jobs and that's why house prices haven't risen in some parts? Isn't that also supply and demand? 

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essexgull

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#4
17/10/2017 at 15:09

That's life though, isn't it.

If you can't afford to go on holiday to X, you go to Y. If you can't afford on a doctor's salary to live in Chelsea, go and live in a mansion in Hartlepool...


ESSEX GULL

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imperishablehcfc

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#5
18/10/2017 at 05:49

Not sure where they are getting their data from but 10 years at 2.5% inflation represents about 30% cumulative inflation.

Apply that % to my post code and they are miles off when they suggest a 6.3% real term fall

I don't agree that housing crisis is a myth, even if you accept their figures they are saying that in just over half the wards prices are circa 2007 levels. So if you couldn't afford one in 2007, which many couldn't, then how after wages haven't kept pace with inflation could you afford one now? For the 40 years prior to the end of the last century this was not the case as even people on relatively low wages could get their feet on the property ladder.

The crisis is, that whatever prices actually are in relation to 2007, they have still been kept artificially high due to a combination of rampant population growth and the emergence of the buy to let market. Too many are being snapped up as investment opportunities rather than being affordable homes.

Of course this depends on your view as to whether we should still be chasing the dream of being a 'property owning democracy'. 

Fuck the short term we will build a 1000 year Hull City Reich 

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candw

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#6
18/10/2017 at 07:39

Excellent post, chinky.

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Hulltim8 City AFC

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#7
18/10/2017 at 08:42

Quote Quote by candw on 17/10/2017 at 14:52
Are you suggesting that nobody wants to move to areas where there are no jobs, or only low paying jobs and that's why house prices haven't risen in some parts? Isn't that also supply and demand?


Makes you wonder why some jobs loop northbound itbdifficultbtonfillnvacanfiescwhenbthey have a national pay structure. Someone on Hull would be better off as regards disposable income compared to living down south. I am sure you could think of a few examples of some of those jobs. 

2005 Labour got 355 seats from 35.2 % of the vote on a 62.4% turnout. 2015 Tories got 331 seats from 36.9% of the vote on a 661% turnout. Left wing fannies moan the second one is sooooo unfair and we need electoral reform. But didn't utter a peep,about the first one. 

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Hulltim8 City AFC

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#8
18/10/2017 at 08:44

Quote Quote by essexgull on 17/10/2017 at 15:09
That's life though, isn't it.

If you can't afford to go on holiday to X, you go to Y. If you can't afford on a doctor's salary to live in Chelsea, go and live in a mansion in Hartlepool...


ESSEX GULL


Or complain it just isn't fair you can't afford the holiday you would really want and demand that "they" do something about it. 

2005 Labour got 355 seats from 35.2 % of the vote on a 62.4% turnout. 2015 Tories got 331 seats from 36.9% of the vote on a 661% turnout. Left wing fannies moan the second one is sooooo unfair and we need electoral reform. But didn't utter a peep,about the first one. 

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exiled CITY AFC

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#9
18/10/2017 at 08:56

The thing is people seem to think they have a right to live where they grew up and few think about progression. I bought my first house in a rough area compared to where my parents lived but I didn’t think I would be in it forever. At on time when I got divorced and effectively started again I moved 10 times in two years working until 1am every morning to improve whatever house I had to sell on and trade up.

My kids are at this stage now and they can do what all their mates are doing - rent where they aspire to live - or buy somewhere they are motivated to improve and move on from.

These days many want everything on a plate, no one is prepared to take a step down, even momentarily, and most are not prepared to put the graft in.

If you are a doctor in London - move up north stop whinging.

We just sold a hull property at a £45k loss after 10years of ownership council tax etc. It was like a show house loads of viewings but most wanted to pay even less. In the same period in another northern city the same property would be £90k up. National figures are useless in the UK  

Let it never be said that I was silent when they needed me - William Wilberforce 

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candw

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#10
18/10/2017 at 10:21

Quote Quote by Hulltim8 City AFC on 18/10/2017 at 08:42


Makes you wonder why some jobs loop northbound itbdifficultbtonfillnvacanfiescwhenbthey have a national pay structure. Someone on Hull would be better off as regards disposable income compared to living down south. I am sure you could think of a few examples of some of those jobs.


Imblameithexteachvers.

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essexgull

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#11
18/10/2017 at 11:21

Quote Quote by imperishablehcfc on 18/10/2017 at 05:49
Not sure where they are getting their data from but 10 years at 2.5% inflation represents about 30% cumulative inflation.

Apply that % to my post code and they are miles off when they suggest a 6.3% real term fall

I don't agree that housing crisis is a myth, even if you accept their figures they are saying that in just over half the wards prices are circa 2007 levels. So if you couldn't afford one in 2007, which many couldn't, then how after wages haven't kept pace with inflation could you afford one now? For the 40 years prior to the end of the last century this was not the case as even people on relatively low wages could get their feet on the property ladder.

The crisis is, that whatever prices actually are in relation to 2007, they have still been kept artificially high due to a combination of rampant population growth and the emergence of the buy to let market. Too many are being snapped up as investment opportunities rather than being affordable homes.

Of course this depends on your view as to whether we should still be chasing the dream of being a 'property owning democracy'.


If your house has gained less than ca. 30% over the 2007 highs, the article indicates that you've effectively lost money owning your house. I imagine this is fairly common in certain areas.

IF you want to get on the UK housing ladder, pretty much every city outside of London has starting homes/flats for around 150k. It's hardly impossible for a couple earning 25k a year each to save and buy it.

As for London, let the market sort itself out. If some want to drop a million pounds on a 3 bedroom flat in Hackney Wick, let them. They're not forced to buy it...


ESSEX GULL  

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imperishablehcfc

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#12
18/10/2017 at 12:12

3 times joint salary, my first house a small 3 bed terraced house was less than 2 times mine alone , and that was an averagish salary that house has recently been on the market at more than 5 times what i paid 29 years ago. Thats why its not affordable in many parts of the country, even vast parts of the North 

Fuck the short term we will build a 1000 year Hull City Reich 

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essexgull

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#13
18/10/2017 at 15:00

30k deposit and a 120k mortgage, which at current interest rates on an average 3.5% mortgage, is around £600 a month including repayment. Less than a quarter of outgoings for a couple on 25k a year each... Enough left over to save or invest in something else as well.

It's hardly out of reach.

The difference is that from the 1950s to late 1990s, British housing stock was hugely undervalued and there was an excess of it.


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imperishablehcfc

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#14
18/10/2017 at 17:03

And how many have a spare 30K, everyone's in debt aren't they.

No excuse for so much debt but it's still fanciful to think vast numbers of people can easily find 30K

Fuck the short term we will build a 1000 year Hull City Reich 

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essexgull

8100 posts
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#15
18/10/2017 at 17:17

A lifetime of buying a Xaiomi rather than an iPhone if they are on low incomes.


ESSEX GULL  

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