Why buy in Dagenham when you could move to Harrogate or Trafford or Northumberland or Warwickshire or Herefordshire and have a bigger property in a nicer location even on a lower salary?
The problem we have is too many people on average incomes in London do not realise London is now a city where you need to be rich to buy property.
London is fine if you are in your 20s and renting, after that unless you are rich best to move out
Move out of London is your solution?
Somewhere commutable like the Home Counties would work I suppose?
Have you had a Damascene conversion and suddenly support the construction of homes for these people to move out to?
Why buy in Dagenham when you could move to Harrogate or Trafford or Northumberland or Warwickshire or Herefordshire and have a bigger property in a nicer location even on a lower salary?
The problem we have is too many people on average incomes in London do not realise London is now a city where you need to be rich to buy property.
London is fine if you are in your 20s and renting, after that unless you are rich best to move out
Move out of London is your solution?
Somewhere commutable like the Home Counties would work I suppose?
Have you had a Damascene conversion and suddenly support the construction of homes for these people to move out to?
Yes, if you are on an average London salary you could afford to buy a property in much of the Home Counties even if not in London itself.
If you are on a Home Counties average salary though you need family support to buy there otherwise you also have to move out as those ex Londoners on higher salaries than you will keep the local prices up no matter how many houses you build (and to make even a small difference those new homes would have to be affordable homes targeted at local first time buyers)
I believe in people being able to work hard and provide for their own family. Not wait until they're retired and pray for a relative's death. That's sick.
Exactly. Bill Gates comes in for a lot of flak, but I still admire his approach for people who get rich - see the kids with adequate money in case they fall on hard times, keep enough to live decently but not extravagantly yourself, and gradually give the rest away.
I believe in people being able to work hard and provide for their own family. Not wait until they're retired and pray for a relative's death. That's sick.
Exactly. Bill Gates comes in for a lot of flak, but I still admire his approach for people who get rich - see the kids with adequate money in case they fall on hard times, keep enough to live decently but not extravagantly yourself, and gradually give the rest away.
Do we know if he is also be giving away the huge amount of land he has been quietly buying up over the past 5-10 years?
Aaron Bastani @AaronBastani · 2h Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
Notice also that Scotland's are now levelling off.
Andrew Lilico @andrew_lilico The Scottish cases spike seems to have died away fairly quickly & harmlessly. My current guess is that we'll get even less than this in England cos in Scotland that's both the Step 4 (& some Step 3) spike & the schools return spike combined. But even if we got that, it'd be mild.
Aaron Bastani @AaronBastani · 2h Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
Aaron Bastani @AaronBastani · 2h Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
Of course I didn't hate Thatcher, she was fine with inherited wealth too, indeed her own son got a lot of support from her.
There is nothing wrong with working hard and providing for your family but in the real world no matter how hard you work if you are on an average income you will still not be able to buy a property in London and the Home Counties without family support (and some of those gifts come in life not just on the death of a grandparent or parent)
You absolutely could on two average London incomes if taxes weren't so high.
You couldn't. The average London income is £41,017, that is £82,034 combined (and that is for full time workers). 4.5 times that to get a mortgage is only £369, 153.
Depends what you mean by a property in London. You could well afford a 2 bed in the suburbs with that mortgage.
Somebody getting the first step on the housing ladder rarely pays the average price either.
£369,000 is more than enough to pay the average price for some parts of London according to that link HYUFD shared, such as Barking and Dagenham, let alone below average prices.
But if lower taxes put more of those properties within reach wouldn't their prices rise to make it unaffordable to most again?
And greater london isnt the easiest place to increase supply.
I believe in people being able to work hard and provide for their own family. Not wait until they're retired and pray for a relative's death. That's sick.
Exactly. Bill Gates comes in for a lot of flak, but I still admire his approach for people who get rich - see the kids with adequate money in case they fall on hard times, keep enough to live decently but not extravagantly yourself, and gradually give the rest away.
Bill Gates famously (in the chess world anyway) played world champion Magnus Carlson on a Irish TV chat show (on youtube) and of course lost pretty quickly. It got me back into chess after watching it but the most alarming thing about playing online chess is seeing how your brain varies hugely between when you are most alert and not and it shows in long winning streaks and long losing streaks only days apart
Notice also that Scotland's are now levelling off.
Andrew Lilico @andrew_lilico The Scottish cases spike seems to have died away fairly quickly & harmlessly. My current guess is that we'll get even less than this in England cos in Scotland that's both the Step 4 (& some Step 3) spike & the schools return spike combined. But even if we got that, it'd be mild.
Possible.
Not that it matters much.
Its just a question of burning through the anti-vaxxers and there are only limited ways of affecting that.
Notice also that Scotland's are now levelling off.
Andrew Lilico @andrew_lilico The Scottish cases spike seems to have died away fairly quickly & harmlessly. My current guess is that we'll get even less than this in England cos in Scotland that's both the Step 4 (& some Step 3) spike & the schools return spike combined. But even if we got that, it'd be mild.
Possible.
Not that it matters much.
Its just a question of burning through the anti-vaxxers and there are only limited ways of affecting that.
We could stop testing, stop tracing, stop encouraging masks and let this burn out faster.
Aaron Bastani @AaronBastani · 2h Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
I agree with Bastani.
Truly the end times are upon us.
The NI rise is going to make for odd bedfellows because of who has proposed it. The partisan hacks who have got less then three brain cells will support this while those who don't just slavishly follow orders will find themselves agreeing with some odd people.
Aaron Bastani @AaronBastani · 2h Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
Good to see Aaron has now come round to support May's dementia tax after he backed Corbyn in exploiting it to cost her her majority in 2017
Notice also that Scotland's are now levelling off.
Andrew Lilico @andrew_lilico The Scottish cases spike seems to have died away fairly quickly & harmlessly. My current guess is that we'll get even less than this in England cos in Scotland that's both the Step 4 (& some Step 3) spike & the schools return spike combined. But even if we got that, it'd be mild.
Possible.
Not that it matters much.
Its just a question of burning through the anti-vaxxers and there are only limited ways of affecting that.
We could stop testing, stop tracing, stop encouraging masks and let this burn out faster.
Agreed but a proviso would be if there are going to be booster shots.
Upon which the government needs to make a decision instead of talking about making a decision.
Comments
Somewhere commutable like the Home Counties would work I suppose?
Have you had a Damascene conversion and suddenly support the construction of homes for these people to move out to?
If you are on a Home Counties average salary though you need family support to buy there otherwise you also have to move out as those ex Londoners on higher salaries than you will keep the local prices up no matter how many houses you build (and to make even a small difference those new homes would have to be affordable homes targeted at local first time buyers)
Notice that tests and now increasing.
Notice also that Scotland's are now levelling off.
Aaron Bastani
@AaronBastani
·
2h
Look at property ownership among 18-45s compared to 20 years ago.
The model of leveraging assets to pay for care in old age doesn’t work for people...with no assets. Now we want them to plug the gap too? Deeply unfair.
@andrew_lilico
The Scottish cases spike seems to have died away fairly quickly & harmlessly. My current guess is that we'll get even less than this in England cos in Scotland that's both the Step 4 (& some Step 3) spike & the schools return spike combined. But even if we got that, it'd be mild.
Truly the end times are upon us.
£369,000 is more than enough to pay the average price for some parts of London according to that link HYUFD shared, such as Barking and Dagenham, let alone below average prices.
But if lower taxes put more of those properties within reach wouldn't their prices rise to make it unaffordable to most again?
And greater london isnt the easiest place to increase supply.
Not that it matters much.
Its just a question of burning through the anti-vaxxers and there are only limited ways of affecting that.
Upon which the government needs to make a decision instead of talking about making a decision.
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