Topical debate, moral dilemmas and quirky questions. Join fellow shareholders in civilised discussions of issues of interest
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pabenny
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by pabenny » Fri Jun 21 2019 10:10am
expressman33 wrote: ↑Thu Jun 20 2019 11:37am
pabenny wrote: ↑Thu Jun 20 2019 11:31am
More importantly, houses are much more expensive in relation to earnings
ONS wrote:In 1997, house prices were on average around 3.6 times workers’ annual gross full-time earnings, whereas in 2016 workers could typically expect to spend around 7.6 times annual earnings on purchasing a home.
not necessarily - it's how much mortgage in relation to your earnings that matters
https://www.thisismoney.co.uk/money/mor ... egion.html
ps: the 7.6 times earnings is mainly due to the London factor , in some areas , especially up North ,it is less
1) True, the ratio of house price to earnings is higher in London (not clear from the figures whether the earnings figures used are regional like the house prices). However the point was to show how much more expensive houses for today's buyers than for those who bought many years ago.
2) Proportion of income accounted for by mortgage repayments. That statistic hides how much more difficult it is get onto the housing ladder: in the 1990s, the average deposit was a quarter of household income; today it's well over half. The average age of first-time buyers is 33.
Why does this matter?
Most of today's older people are economically comfortable - owning their home, many with final salary (ie guaranteed and index-linked) pensions. They see today's younger people who are materially far better off than they were at their age (consumer electronics, takeaways), but don't see their poor economic position (insecure jobs, costly housing, poor pension provision).
Older people can 'afford' to support Brexit and often fail to appreciate the impact on their children and grandchildren.
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blythburgh
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by blythburgh » Fri Jun 21 2019 10:12am
expressman33 wrote: ↑Thu Jun 20 2019 10:58am
when I bought my first house I was paying over 6% interest on my mortgage , Today you can get a mortgage for under 2% interest
And how many years of income would an average house cost then compared to today's first property.
I have been told how someone paid a deposit of £25 for a new build bungalow which was less than twice his take home pay at the time.
Could not happen today could it.
And you were lucky to get a 6+% mortgage when some have had to pay 15% or more when inflation was running riot
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler
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blythburgh
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by blythburgh » Fri Jun 21 2019 10:16am
Some older people do not care about the impact of Brexit on younger people. 2/3rds of those questioned for a YouGov poll would support Brexit even if it meant people lost their jobs. 1/3rd would support Brexit even if it meant a member of their family lost their job.
Do not tell me some pensioners are not bloody selfish "blow you Jack, I'm alright" b*stards.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler
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Boro Boy
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by Boro Boy » Sat Jun 22 2019 12:05am
blythburgh wrote: ↑Fri Jun 21 2019 10:16am
Some older people do not care about the impact of Brexit on younger people. 2/3rds of those questioned for a YouGov poll would support Brexit even if it meant people lost their jobs. 1/3rd would support Brexit even if it meant a member of their family lost their job.
Do not tell me
some pensioners are not bloody selfish "blow you Jack, I'm alright" b*stards.
No need to get rude... I'm sure you are just interpreting things wrong, I'm sure they think in the longer term they might believe that things would be better for all rather than just themselves...!
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blythburgh
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by blythburgh » Sat Jun 22 2019 10:44am
Boro Boy wrote: ↑Sat Jun 22 2019 12:05am
blythburgh wrote: ↑Fri Jun 21 2019 10:16am
Some older people do not care about the impact of Brexit on younger people. 2/3rds of those questioned for a YouGov poll would support Brexit even if it meant people lost their jobs. 1/3rd would support Brexit even if it meant a member of their family lost their job.
Do not tell me
some pensioners are not bloody selfish "blow you Jack, I'm alright" b*stards.
No need to get rude... I'm sure you are just interpreting things wrong, I'm sure they think in the longer term they might believe that things would be better for all rather than just themselves...!
They have believed the hard right views and lies some of the media have been pushing for years. They do not give a damn about anyone and what they want. Thankfully age is not on their side and the Tory party especially will go back to being full of decent people who care about the country and its inhabitants.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler
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Chadwick
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by Chadwick » Sat Jun 22 2019 8:58pm
Boro Boy wrote: ↑Sat Jun 22 2019 12:05am
No need to get rude... I'm sure you are just interpreting things wrong, I'm sure they think in the longer term they might believe that things would be better for all rather than just themselves...!
"I'm sure"
"they think"
"might believe"
Master all these phrases and you too can confidently support Brexit in the face of all evidence.
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Boro Boy
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by Boro Boy » Sat Jun 22 2019 11:04pm
Chadwick wrote: ↑Sat Jun 22 2019 8:58pm
Boro Boy wrote: ↑Sat Jun 22 2019 12:05am
No need to get rude... I'm sure you are just interpreting things wrong, I'm sure they think in the longer term they might believe that things would be better for all rather than just themselves...!
"I'm sure"
"they think"
"might believe"
Master all these phrases and you too can confidently support Brexit in the face of all evidence.
ITALY - stuck in the EU and attempting to increase public spending for its population but under treat of sanctions from the EU causing a market turndown resulting in a brain drain of its educated youth:
https://www.france24.com/en/20190620-fo ... 2463152530
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pabenny
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by pabenny » Sun Jun 23 2019 8:52am
Chadwick wrote: ↑Sat Jun 22 2019 8:58pm
"I'm sure"
"they think"
"might believe"
Master all these phrases and you too can confidently support Brexit in the face of all evidence.
Agree. Although we should be asking why so many people continue to support Brexit as a matter of faith over facts.
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pabenny
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by pabenny » Sun Jun 23 2019 8:56am
Another apparent attempt to argue that the particular characteristics of Italy are (a) caused by being in the EU and (b) would infect the UK if we remained.
Since the UK and Italy have both been EU members for the last 40+ years, it's strange how we have remained unaffected by Italian economic incompetence and administrative chaos.
But hey-ho. It's the Leavers' beliefs-over-evidence in action again.
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kevinchess1
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by kevinchess1 » Sun Jun 23 2019 2:56pm
‘Leave means leave!’ Says Carrie Symonds
Politically incorrect since 69
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