Quote Originally Posted by A Quiet Monkfish View Post
I've just checked on Rightmove the sale price [March 2022] of my 1st house. I bought it in 1976 for £18,000. It sold for £183,000. Pretty much average for those around it, too. That's a 10 fold increase. The average wage in 1976 was £3,750. The average salary in the UK in 2022 is £31,500. That equats to 8.4 times increase. Now imagine a mortgage today with 10-11% interest rates, because that's what we were paying - bank rate was close to 9%.

You can convince yourself that the world's against you - and listening to the doomongers doesn't help, but believe me, it's far, far, easier to buy a house now than it ever was..
But £18,000 wasn't the average house price in 1976, it was about £11,500. So by your own figures that's 4x the average wage.

You say the average wage is £31,500 which is probably about right (although median wage would be better) but the average house price in the UK is now £290,000 which is about 9-10x that figure. Most mortgage providers will only loan up to 4x your salary now, are you starting to see the gigantic problem yet?

We have a generation of older people who despite no matter how many facts you're shown you will refuse to see how bad things are at the moment. Which is why things keep getting worse because you've got your heads in the sand and keep voting for this.

This shouldn't even need to be a discussion, it's like asking if the sky is blue.

And before I hear the 'you're just jealous' I am a homeowner.

Sources:

https://www.housepricecrash.co.uk/in...nal-inflation/

https://www.theguardian.com/business...starts-to-cool