Does anyone still think the housing market isn't broken?

LabR@t said:
Pay will rise, trust me.
There will be high inflation and the government debt will be inflated away.
Click to expand...
There are already cheap jobs going that no able bodied UK person wants to do. The number of EU nationals working in the UK is in the millions, all doing relatively menial or physical jobs for minimum wage. Employers say that uk people are work shy and lazy or simply won't do jobs like fruit picking or manual labouring on a building site. These jobs will be going unfilled unless there's a sea change in attitude of the U.K. Workforce. But it's unlikely to happen because no one in the uk wants to do stuff like this.
 
MissChief said:
There are already cheap jobs going that no able bodied UK person wants to do. The number of EU nationals working in the UK is in the millions, all doing relatively menial or physical jobs for minimum wage. Employers say that uk people are work shy and lazy or simply won't do jobs like fruit picking or manual labouring on a building site. These jobs will be going unfilled unless there's a sea change in attitude of the U.K. Workforce. But it's unlikely to happen because no one in the uk wants to do stuff like this.
Click to expand...

They will begin to pay more.
 
Vonhelmet said:
You read the report from rabobank? Even if wages go up they'll be obliterated by inflation and the people on the ground will get screwed.
Click to expand...
It won't be easy, but in the long run those who have current debt will see that debt become less and less proportional to the income
 
Speaking of being under-employed...

I get triggered by the higher rate of income tax. You wouldn't think someone paying higher rate tax would complain about house prices but to get a mortgage in the south east as a single person you basically have to be a higher rate tax payer. What sort of government says "oh you're earning barely enough to buy a house, guess I'll have 40%".

I have tons of free time, I could easily do another job in the evening, but the government would punish me for doing it by charging me extra tax. Hardly seems worth it.

I thought the intention was 'the more you earn, the more you pay'. This is true of any income tax rate which is a percentage, brackets are unnecessary.

Income tax brackets are discrimination based on income. It is not moral to take money from someone because you have less, in other contexts it's called theft!

So it's really obvious to me there should be one tax on income - combine national insurance and income tax, and have one rate for everyone, say 30% for argument's sake.
 
billysielu said:
Speaking of being under-employed...

I get triggered by the higher rate of income tax. You wouldn't think someone paying higher rate tax would complain about house prices but to get a mortgage in the south east as a single person you basically have to be a higher rate tax payer. What sort of government says "oh you're earning barely enough to buy a house, guess I'll have 40%".

I have tons of free time, I could easily do another job in the evening, but the government would punish me for doing it by charging me extra tax. Hardly seems worth it.

I thought the intention was 'the more you earn, the more you pay'. This is true of any income tax rate which is a percentage, brackets are unnecessary.

Income tax brackets are discrimination based on income. It is not moral to take money from someone because you have less, in other contexts it's called theft!

So it's really obvious to me there should be one tax on income - combine national insurance and income tax, and have one rate for everyone, say 30% for argument's sake.
Click to expand...

Are you serious? Someone in a 15k a year minimum wage job gets £4.5k taken off them yearly? I will ask again, are you serious?
 
MissChief said:
Are you serious? Someone in a 15k a year minimum wage job gets £4.5k taken off them yearly? I will ask again, are you serious?
Click to expand...
Oh I didn't mean get rid of the personal allowance :)

Read it as "for those who are taxed, they should be taxed at the same rate".
or
"earn 11k tax-free, then pay 30% on the rest".

For anyone who hasn't... it's an interesting exercise to try and work out exactly how much tax you pay, some useful links for those who want to try:
https://www.gov.uk/income-tax-rates
https://www.gov.uk/government/publi...d-allowances-national-insurance-contributions
Some things to consider:
- gross salary
- pension contributions
- personal allowance
- tax bands
- ni primary threshold
- ni rate
- benefits in kind
 
Last edited:
I love the UK it is and always will be my 'home' but it's in a hell of a mess.

I am fortunate enough to have a small portfolio in the UK of property which is my pension pot so to speak....well that's the plan.

More and more people though ( myself included) have decided to look for opportunities overseas.

I cashed in the advantages of living in my 'home' to move to a country where the economy is actually growing and I feel like I can get somewhere.

My mother, brother etc would love for me to come back but I don't see any financial incentive for me, my circumstances on what I can forsee would be significantly worse.

I got in at the 'right' time on the property market from the simple and crude perspective that I was able to. The increase my properties have seen mean that based upon what my UK salary was when I was there ( even taking into account wage inflation assuming there is such a thing these days) I would not be able to buy them now.

I personally don't see it getting any easier or better. I hope I am wrong on an epic scale.
 
House
billysielu said:
Oh I didn't mean get rid of the personal allowance :)

Read it as "for those who are taxed, they should be taxed at the same rate".
or
"earn 11k tax-free, then pay 30% on the rest".

For anyone who hasn't... it's an interesting exercise to try and work out exactly how much tax you pay, some useful links for those who want to try:
https://www.gov.uk/income-tax-rates
https://www.gov.uk/government/publi...d-allowances-national-insurance-contributions
Some things to consider:
- gross salary
- pension contributions
- personal allowance
- tax bands
- ni primary threshold
- ni rate
- benefits in kind
Click to expand...
so I'm on £22k a year. So £11k tax free as now. Of that £11k the government takes £3300? That's £1200 more than they took last year. An extra £100 a month out of my pocket? Like Simon Cowell, it's a no from me.
 
@MissChief
And just so you can see why tax annoys me so much... I pay more than your salary in income tax.
So you get all the UK education/health/pension/roads/etc for under £4k
I get the exact same services, for over £22k.
Good deal.. for you.
 
You must log in or register to reply here.
Back
Top Bottom