UK v eurozone debt

[Doggy Styles]

Feck me no wonder we're down the tubes with the perception that this is an acceptable debt.

Nope, never said that. I said it was OK as long as you are paying it down, which you edited out.

I chose a large debt to make the point.

HTH

[Arturo Bassick]

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

[MrRobin]

"Annual income twenty pounds, result misery."

FTFY

[PAH]

I chose a large debt to make the point

Don't think it's particularly large if IIRC the current/recent average house price is around £200k (when including London ), yet the average wage is still barely above £20k.

I find it hard to comprehend how the gen pop are ok with houses costing so much, having doubled or trippled in the last 10 years, yet their wages are still much the same. They're effectively paying more for the same yet feel better off because they have all this equity on paper if they were to sell up, ignoring the cost of buying the next place.

Still, while I have friends who spend every penny each month and have all the latest gadgets, tat and new cars I'd prefer to keep a large warchest and no debt while driving a banger.

It also helps keep the gold diggers away, I look like I'm skint.

[scooterscot]

Don't think it's particularly large if IIRC the current/recent average house price is around £200k (when including London ), yet the average wage is still barely above £20k.

I find it hard to comprehend how the gen pop are ok with houses costing so much, having doubled or trippled in the last 10 years, yet their wages are still much the same. They're effectively paying more for the same yet feel better off because they have all this equity on paper if they were to sell up, ignoring the cost of buying the next place.

WHS with bells on.

The materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.

[Arturo Bassick]

WHS with bells on.

The materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.

Weren't you pointing out the price of houses in Munich recently?

[scooterscot]

Weren't you pointing out the price of houses in Munich recently?

Cost and price are not the same thing. The cost of materials to build said house are nearly always multiple reductions of the asking price.

Borrowing anything north of £100K to make said price IMO is

If a house costs £300K and you're gross income is ~£80k move on you cannot afford it, how people were tricked into believing they could has been one of the greatest swindles of the 20th century.

[DodgyAgent]

Cost and price are not the same thing. The cost of materials to build said house are nearly always multiple reductions of the asking price.

Borrowing anything north of £100K to make said price IMO is

If a house costs £300K and you're gross income is ~£80k move on you cannot afford it, how people were tricked into believing they could has been one of the greatest swindles of the 20th century.

You remind me of the "you dont wanna do it like that" know all character from harry Enfield

[PAH]

The materials to build said house I'll bet never cost anywhere near £200k, unless you believe these stupid pre-2008 DIY house programmes.

I think it's land prices that have shot up due to people willing to pay £100k for a small piece of land with planning permission that would otherwise be worth under 5k.

Labour and materials probably haven't risen that dramatically, now the construction industry is in limbo they may even be falling.

Maybe the proposed changes to the planning system will make it easier and therefore cheaper to find plots of land with permission to build on. If it becomes cheaper to build than buy then ready built prices may come down accordingly.

[scooterscot]

I think it's land prices that have shot up due to people willing to pay £100k for a small piece of land with planning permission that would otherwise be worth under 5k.

Seriously check out the cost of brown field sites in around London if that's your thing, acres about costing next to nothing.