What you say is not relevant.Alexiev wrote: ↑Thu Mar 21, 2024 4:47 pmObviously, if you want to buy a house in Manhattan, L.A., San Francisco or London you have to fork over the big bucks. ON the other hand, if you want to live in Oklahoma or West Virginia, you can still buy a good house for $150k or far less. I bought my small house for $85k in 1994. It's probably worth $300k today. During that same period, the stock market has gone up 10 fold (standard and poors). IN addition, I've had to pay taxes, interest and upkeep on the house. As more people are working remotely (due to the pandemic and the internet), it might be less necessary to live in areas where housing is expensive.Sculptor wrote: ↑Thu Mar 21, 2024 4:20 pm
IN 1968 in mum bought a house for £5,500, as a single parent, with a mortage that was 3 times her annual salary. She struggled but was able to buy it on a modest wage with help from my Grandmothers pension to look after the kids.
I sold that house in 2008 for £400,000.
For a person the have bought that same house at 3times their salary they would have had to be earinging £133,333 per annum at a time when the average wage was £28,000.
How many young couples make £130,000 a year? My Mum had a rather ordinary semi-skilled job, which proably would net about £35000 at today's prices.
Why the massive change? Milton Friedman!
This is not "the left"
Jobs dont pay enough whereever you are. Places with cheap houses do not have work.
What is the point is that all over the western world having adopted the economic theories of Friedman houses have been placed outside the reach of most people.
This is a change over time.
Young people, even those working multiple jobs cannot get a start.
This is because the right wing has led the governments and favoured the few.