tag:blogger.com,1999:blog-2875915890415125655.post3406297212203089222..comments2023-05-18T10:37:34.608+01:00Comments on <a href="http://www.retirementinvestingtoday.com">Retirement Investing Today</a>: Valuing the Property of England and Wales at County LevelRetirementInvestingTodayhttp://www.blogger.com/profile/03088383743670046657noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-2875915890415125655.post-55129678338155995562014-05-19T07:51:13.482+01:002014-05-19T07:51:13.482+01:00Thanks for the excellent data. I agree it is good ...Thanks for the excellent data. I agree it is good "as far as it goes" because in the real world people generally buy a house as a couple and two salaries are considered by lenders. Also, how do these figures compare historically? Not trying to put you to any more labour, just saying that as a snapshot it is useful, but we can only see geographical trends here (which we knew already). Anonymoushttps://www.blogger.com/profile/07221181124066736489noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-59291324876253521272013-12-30T10:26:08.971+00:002013-12-30T10:26:08.971+00:00A few quick thoughts. I've worked in a few lar...A few quick thoughts. I've worked in a few large cities (Plymouth and Bristol) over recent years that I thought looked over valued compared to where I lown property (but no longer live) in West Berkshire. To give an example.A flat in the mostly horrible area of Stonehouse in Plymouth (and a horrible looking flat at that) is £68,000. A neighbour in West Berks has been trying to sell her ChapelAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-52563976684725901472013-05-15T14:46:26.183+01:002013-05-15T14:46:26.183+01:00Thanks for the work on this, RIT. It's more in...Thanks for the work on this, RIT. It's more informative than national statistics.RJhttps://www.blogger.com/profile/13871618901190898384noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-82602027147918452322013-05-14T12:42:16.469+01:002013-05-14T12:42:16.469+01:00I've re-read the previous article but I can on...I've re-read the previous article but I can only find one thing that i might be forgetting - that wages will probably fall in real terms.<br /><br />On that point, if over a decade or so:<br />CPI went up 100%<br />Wages only went up 50%<br />House prices went up by a pathetic 25%<br />And rent covered your interest only mortgage and maintenance costs.<br />Then you have still made a capital BeatTheSeasonsnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-5675850097549569722013-05-14T10:14:14.176+01:002013-05-14T10:14:14.176+01:00All true, however my point was more we are paying ...All true, however my point was more we are paying 5 x the price per sqm* compared to the US, with average household income the same. <br /><br />So we're mortgaging our lives away to live in a shoe box, why ? <br /><br />* Calculated on the back of a cereal box using averaged numbers whilst half awake, likely to be bollocks.Nathannoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-49357095418954400382013-05-13T22:09:40.609+01:002013-05-13T22:09:40.609+01:00Really...
If history repeats itself then most peo...Really...<br /><br />If history repeats itself then most people aren't going to be home owners<br /><br />Read this blog from our own links section...<br /><br />http://www.moneysavingchallenge.com/history-of-home-ownership-in-the-uk/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-75317338963005987902013-05-13T20:23:39.260+01:002013-05-13T20:23:39.260+01:00Hi Anonymous
I agree with you that low earners ar...Hi Anonymous<br /><br />I agree with you that low earners are more likely to rent than buy but it has always been thus. I haven't seen enough yet to even consider that we are in a new paradigm over the long term. I'm still in the new paradigms do not exist while history repeats camp.<br /><br />Of course only time will tell if I've been foolish.<br /><br />Cheers<br />RIT RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-87097378166577035532013-05-13T20:17:16.560+01:002013-05-13T20:17:16.560+01:00Hi BTS
One of the side effects of Financial Repre...Hi BTS<br /><br />One of the side effects of Financial Repression is that those in debt are helped at the expense of savers. The question becomes will they be able to execute on the aim. As I highlighted in my previous post I can identify at least two things they are forgetting.<br /><br />I don't even own a home to live in let alone a second one so you can see which camp I'm in.<br /><RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-3906508819888191942013-05-13T20:11:03.924+01:002013-05-13T20:11:03.924+01:00Hi Nathan
Interesting link. Of the sampled count...Hi Nathan<br /><br />Interesting link. Of the sampled countries all seem to be building larger houses except Portugal, Ireland, Italy (so 3 of the PIIGS), Luxembourg, Sweden and the UK. UK new builds about 1/3 the size of our US friends.<br /><br />Not sure if this is good or bad news though. With a smaller house typically comes less running costs and less time spent maintaining it. I'm RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-71964624027885066922013-05-13T17:13:13.106+01:002013-05-13T17:13:13.106+01:00This is very good as far as it goes
However...
I...This is very good as far as it goes<br /><br />However...<br /><br />I'm not sure that comparing average earnings with house prices is so useful<br /><br />Quite simply average earners down buy houses - below average earners rent from the council/housing association or get housing benefit and rent privately<br /><br />Average earners rent privately, maybe with some housing benefit<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-861362064379701842013-05-13T15:37:12.648+01:002013-05-13T15:37:12.648+01:00But if you buy a house with a cheap (financially r...But if you buy a house with a cheap (financially repressed) mortgage that is covered by the rental then you could still make money. If we get a big dose of inflation combined with continuing low interest rates then it's a good time to be in debt. And property is, of course, a 'real' asset, so should do ok in times of high inflation. Even if it's overvalued to start with then you BeatTheSeasonsnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-85442235520134951692013-05-13T14:15:49.834+01:002013-05-13T14:15:49.834+01:00I read this in the am and thought "interestin...I read this in the am and thought "interesting but so what", then I bumped into a international comparison of house sizes... we've lost the plot. <br /><br />http://www.demographia.com/db-intlhouse.htmNathannoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-36649448260026715942013-05-13T12:32:04.065+01:002013-05-13T12:32:04.065+01:00You're welcome Anonymous.You're welcome Anonymous.RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-17382927977474965272013-05-13T12:31:29.950+01:002013-05-13T12:31:29.950+01:00Hi Faustus
Glad you found it useful. A very good...Hi Faustus<br /><br />Glad you found it useful. A very good point on the old school 4x average income. I live the "it's not different this time" philosophy and so remain out of the UK housing market. <br /><br />Will I win or lose in the end. I honestly don't know given the Financial Repression and continual market manipulation being placed on us all. Only time will tell.<RetirementInvestingTodayhttps://www.blogger.com/profile/03088383743670046657noreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-76207129136581597942013-05-13T10:29:29.104+01:002013-05-13T10:29:29.104+01:00Just wanted to post a quick comment to thank you f...Just wanted to post a quick comment to thank you for the post.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2875915890415125655.post-81195311594851290062013-05-13T02:03:50.151+01:002013-05-13T02:03:50.151+01:00Fascinating and an extremely valuable table. Thank...Fascinating and an extremely valuable table. Thank you for the efforts you've invested in developing this.<br /><br />Crucially, it demonstrates the great divide between expensive houses relative to incomes in Southern England (the line appears to run roughly from the Wash across to Herefordshire) and more affordable housing in the rest of the country. There are of course a few pockets where Faustusnoreply@blogger.com