why is the government still chipping in
Redistribution of wealth.
From the poor, to the rich.
As a taxpayer, you are contributing the multi-million pound bonuses.
Well done you.
why is the government still chipping in
I never said it was easier. You said "Not achievable on a mortgage even with quite a big deposit."
In 1984, average earnings for a full-time male were £179 per week (£9308 p.a.)
So if average house price was then £28,500, that would be just over three years' gross earnings. Readily achieveable with a mortgage and a modest deposit, and wives' earnings would be taken into account.
Today, average earnings is £511 per week (£26,572 p.a.)
Average house price today is £231,855. Just under nine years' earnings. Not achievable on a mortgage even with quite a big deposit. Many young people on zero-hours contracts or agency jobs have not the slightest chance of getting a mortgage.
There are baby-boomers in their sixties who like to say they had it hard, and young people today could afford to buy houses if they spent less on Starbuck's coffee.
It's not true.
meanwhile, young people on low wages are paying the pensions of well-off older people.
it's possible this will not continue for ever.
Not achievable on a mortgage even with quite a big deposit.
Ah. You say "not the slightest chance of getting a mortgage".Average house price today is £231,855. Just under nine years' earnings. Not achievable on a mortgage even with quite a big deposit. Many young people on zero-hours contracts or agency jobs have not the slightest chance of getting a mortgage."
Ah. You say "not the slightest chance of getting a mortgage".
Extend the term. Doesn’t have to be 25 years.Tell me how you think you would go about getting a mortgage of nine times your earnings.
even at 35 years most banks will only give 4.5 times earningsExtend the term. Doesn’t have to be 25 years.
(£26,572 p.a.)
plenty round here at that price. ex local authority 3 beds big gardens.You could probably get about £100,000 loan.
you don’t pay tax?Redistribution of wealth.
From the poor, to the rich.
As a taxpayer, you are contributing the multi-million pound bonuses.
Well done you.
round here