Are earnings too low / living costs getting too high??

nightwish said:
Vote for who? Does any political party have "reduce house prices" as part of their manifesto?
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Several had make housing fairer as part of their manifesto last election - but most of those would have done far more damage to society as well with some other crazy ideas.
 
what we need is not to lower houses prices, thats bad for economy.
just need to stabilise house prices, so they stay at or below inflation.
can do this by actually creating affordable houses, albeit it tiny and allowing us who don't care about having a conventional house go that route.

you can also at the same time create more affordable standard housing, by using different construction techniques, which go up within days(weather tight shell) and use massively less man hours.
 
Psycho Sonny said:
It's poor money management and poor decisions.
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For some sure - but take the average person around the area I live - they've probably seen an increase in their monthly wages of around £60-100 (that they are actually taking home) while council tax has increase by around £10/m, utility bills increased by around £10/m, food has gone up around £30/m though that can be managed without significant lifestyle changes if someone wanted to, generally things like cars, clothing and electrical/tech goods haven't changed that much while some big ticket items have gone up a lot others have come down significantly as well so it mostly balances out, then you have their rent which will have increased around £300-400/m - some might not have fully seen that increase yet but will get clobbered if they move, etc.
 
StriderX said:
Damage to society? What like lower profits than 20% increases in housing asset wealth?

Sure.
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I mean some of the parties that had more equality for housing stuff as prominent policies were also pretty odd ball with their overall manifesto and not really a realistic choice - not just in relation to housing or economy, etc.
 
Rroff said:
For some sure - but take the average person around the area I live - they've probably seen an increase in their monthly wages of around £60-100 (that they are actually taking home) while council tax has increase by around £10/m, utility bills increased by around £10/m, food has gone up around £30/m though that can be managed without significant lifestyle changes if someone wanted to, generally things like cars, clothing and electrical/tech goods haven't changed that much while some big ticket items have gone up a lot others have come down significantly as well so it mostly balances out, then you have their rent which will have increased around £300-400/m - some might not have fully seen that increase yet but will get clobbered if they move, etc.
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I've heard this time and time before. Do you know what the elite (senior upper management) say to people who keep on banging on about not getting a pay rise in 12 years?

Apply for promotion.

Basically if you want more money go out and get it. Nobody is going to hand it to you. no matter how many times you keep on bringing up the fact you haven't had a wage rise in 12 years you still won't get one. That is the way it works, not necessarily the way it should be but that is the way it works. Once you understand how it all works you will be much happier. Take the card you have been dealt and play it the best you can. Moaning will get you nowhere basically, only you can make your fate.
 
Psycho Sonny said:
I've heard this time and time before. Do you know what the elite (senior upper management) say to people who keep on banging on about not getting a pay rise in 12 years?

Apply for promotion.

Basically if you want more money go out and get it. Nobody is going to hand it to you. no matter how many times you keep on bringing up the fact you haven't had a wage rise in 12 years you still won't get one. That is the way it works, not necessarily the way it should be but that is the way it works. Once you understand how it all works you will be much happier. Take the card you have been dealt and play it the best you can. Moaning will get you nowhere basically, only you can make your fate.
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You'd be very lucky to get a pay rise around here unless you are extremely desirable to keep in the job and with the recent wage stagnation/suppression lucky to see an increase by changing jobs as well unless you skill up into something higher paying and that simply isn't an option for everyone - likewise there simply aren't always openings for promotion, etc.

I've been relatively lucky personally that I've had around 9.5% pay increase in the last 10 years plus some decent bonuses/incentives partly because I'm valued in the job to some extent.

EDIT: TBH your entire post is idealistic horse excrement that is somewhat detached from the realworld.
 
jonneymendoza said:
yea but im talking specifically about London.

There is no 200k house in london
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Well then look for a house out of London? You can't have your cake and eat it - London hasn't had sub 200k homes for around 15-20 years. London and expensive homes aren't something that has just started.

jonneymendoza said:
i work in LONDON and dont want to spend over an hour commuting to work.
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In that case you're stuck. Something has to give. Either earn more or be willing to sacrifice commuting time. That's a choice we made and sure the commute is over an hour, but we have a big house in a much nicer area that London could ever offer, but still earn London wages. Sure, I wish I could commute less, but that's life, you sometimes have to have these moments of inconvenience but that's life.

Rroff said:
Around a lot of the South West there has been significant wage stagnation or suppression while house prices have risen significantly sometimes doubled or more. It isn't just about luxuries but the affordability of a lifestyle that is commensurate with a wage.
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So what has caused the price hike? That's quite a bad state of affairs :( i guess new money has made its way there or non locals have invested heavily in the area?


Psycho Sonny said:
It's poor money management and poor decisions.

Put it this way their is a girl in the team beside mine. She only just moved out her mums house 6 months ago (where she paid a small figure in digs) into rented accommodation and has taken up a second job at the weekends because she is in tons of debt and keeps on taking things out on finance. She also moved in with her boyfriend and he pays most of the bills. She has around half of her annual wage (before deductions) on credit card loans and it's been this way for years. Her car finance deal just ended and now she wants to take out another (sop she pays one loan off and straight away takes out another). When I overheard this I said "you love your credit don't you?" and she took the huff.

She isn't willing to learn from her mistakes. She wants everything and she wants it now.

She could have a home (on mortgage), a car owned outright with no debt like myself but rather keep on spending on finance / credit cards and work 2 jobs.

Whilst living at home with her mum she should have had zero debts and a healthy bank balance (savings). But it's the complete opposite. I doubt she will ever learn.
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Yeah that is part of the problem. Debt management and wanting to live a certain quality of life and wanting things RIGHT NOW. I used to be like that, got into lots of debt, and then realised where I was going wrong. I have been debt free for 10+ years (excluding mortgage), and accept I can't have everything I want, and that I have to save - but when I do get the luxury items I can afford them.

I'm sure there's a lot more than just that, but it's easy to be in denial.
 
Freefaller said:
So what has caused the price hike? That's quite a bad state of affairs :( i guess new money has made its way there or non locals have invested heavily in the area?
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A good bit is due to redevelopment of the area and/or non-locals buying up a lot of the new build houses for their rental potential.
 
Psycho Sonny said:
I used to commute over an hour to work around 10 years ago. An hour in the morning then another in the evening. it wasn't that bad. I would hate to have to do it now as my work is only 12 minutes away. But it's easily do-able.

You could get a job elsewhere, Birmingham for instance. However people that live in London like to think the only place to be is London. I hate the place. It's a cesspit. Nose to Nose standstill traffic no matter what time of day. I'd rather live anywhere else than a hugely overpopulated city. Bangkok is the same thing in Thailand, it's actually quicker to walk than take a taxi. Why would you choose to live somewhere like that. We had to queue for 3 hours to get into a car park once in London. LMAO why would anyone want to do that on a regular basis. Getting out would be the best thing you could do.
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i use to live outer part of london commuting to work took me over an hour on a good day..

trains where busy, congested and regularly break down a few times a month.

Freefaller said:
Well then look for a house out of London? You can't have your cake and eat it - London hasn't had sub 200k homes for around 15-20 years. London and expensive homes aren't something that has just started.



In that case you're stuck. Something has to give. Either earn more or be willing to sacrifice commuting time. That's a choice we made and sure the commute is over an hour, but we have a big house in a much nicer area that London could ever offer, but still earn London wages. Sure, I wish I could commute less, but that's life, you sometimes have to have these moments of inconvenience but that's life.



So what has caused the price hike? That's quite a bad state of affairs :( i guess new money has made its way there or non locals have invested heavily in the area?




Yeah that is a problem. Debt management and wanting to live a certain quality of life and wanting things RIGHT NOW. I used to be like that, got into lots of debt, and then realised where I was going wrong. I have been debt free for 10+ years (excluding mortgage), and accept I can't have everything I want, and that I have to save - but when I do get the luxury items I can afford them.
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Who said prices where 200k? I aint the one who quoted and said hey just buy a 200k house lol i replied and said where in london?

None mate.

Also i live in zone 2 and cycle to work for 20mins. Healthier to cycle then being squeezed inside a train.

Salary here in london is crap vs rent/mortgage mate and thats the whole point of this thread.
 
KingSimcock said:
That's a disgusting increase. The renting market is corrupt for sure
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It's not corrupt at all it's the perfect reflection of decades of government policy, immigration and public attitudes towards new house building.

Were currently not building enough homes to keep up with demand and with low unemployment it means there is a lot of people who will want to buy or rent their own home which is only going to do one thing to rent and house prices. Secondly first time buyers are competing against others who want additional properties to supplement their retirement income. There is nothing wrong at all with IMO and as I said in my first sentence it reflect government policies which in this case is to keep interest rates low which has had the knock on effect of lower pension annuities (not to mention Gordon Brown raiding pension pots and telling companies not to fund them which has led to the closure of nearly every Private sector final salary scheme going) people should be able to do what they need to do so they can afford a dignified existence in retirement because the government sure as hell isn't going to provide that.

I will say though it's scary looking at how much rent has gone up by, if the government doesn't start building lots ofnew homes then I can see them bring in market controls which is bad news for everyone.
 
jonneymendoza said:
i use to live outer part of london commuting to work took me over an hour on a good day..

trains where busy, congested and regularly break down a few times a month.



Who said prices where 200k? I aint the one who quoted and said hey just buy a 200k house lol i replied and said where in london?

None mate.

Also i live in zone 2 and cycle to work for 20mins. Healthier to cycle then being squeezed inside a train.

Salary here in london is crap vs rent/mortgage mate and thats the whole point of this thread.
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I'm a southern sufferer so you won't get any commuting sympathy from me! ;)

It's just one of those things.

I do plenty of exercise, just not on my commute...

Well if your salary is no good in London, either move out of London then, or find a salary in London that is good - there are plenty of jobs in and out of London that pay well (though this is relative to what you think is good).

I survived easily on under 40k, went on holiday, and had a reasonable life living in London. Sure I was renting, but hey, so what? I had a home. Was quite happy renting.

I don't think the skew is that bad in London at all, it sounds to me from the posts in this thread that the skew is worse outside of london for salary vs rent.
 
Freefaller said:
I'm a southern sufferer so you won't get any commuting sympathy from me! ;)

It's just one of those things.

I do plenty of exercise, just not on my commute...

Well if your salary is no good in London, either move out of London then, or find a salary in London that is good - there are plenty of jobs in and out of London that pay well (though this is relative to what you think is good).

I survived easily on under 40k, went on holiday, and had a reasonable life living in London. Sure I was renting, but hey, so what? I had a home. Was quite happy renting.

I don't think the skew is that bad in London at all, it sounds to me from the posts in this thread that the skew is worse outside of london for salary vs rent.
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na actually i speak in behalf of people that dont earn say more then 50k

My income is fine, i can afford a 400k place at the moment but i am on about the average wage of 28k that was mentioned earlier on this thread. Those people will struggle to buy a property at say the 300k mark.

200k is none existent! :(
 
Rroff said:
EDIT: TBH your entire post is idealistic horse excrement that is somewhat detached from the realworld.
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How so? Is a magic fairy going to come round and give everyone free homes and wage rises? If so then it's not me detached from the real world.

There is nothing you can do about rising costs or house prices. If there is then let us all know.

There is however something you can do about your own income. Moaning about it will change nothing. Doing something constructive however will. I've seen window cleaners on £40K a year for instance. Doesn't take a rocket scientist to clean windows. How many of you pay around £10 to get your windows cleaned either every other week or monthly? Also how long does it take the guy? 10-15 minutes. So he's on £40-£60 an hour which is all profit. All you need is a bucket and a bottle of fairy liquid and couple of other things. But no rather than go out and work for yourself you will await this magic fairy coming along with your free house and wage rise.

This is how the world works. If you want something you need to go out and get it nobody is going to hand it to you on a plate unless your very well connected and have an affluent family.
 
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