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The average house price was 4 times more than the average wage in 1990. So what you are describing was unobtainable to most then as it is now
And now it's 15 times more, so thanks for proving my point
And now it's 15 times more, so thanks for proving my point
It isn’t though as your comparison makes zero sense.
In 1990 the mortgage maximum was 3 times an average wage if buying from scratch. So the person would have been earning around £60,000 per annum then. That would be around £140,000 now. Now it’s possible to get 5 times - certainly on that wage - so they could buy it now.
This is someone purchasing who’s already high up a property ladder.
Mortgage terms are now totally different. Higher wage factoring and far longer mortgages. Most people would not have afforded in then or now.
The average house price was 59,000 in 1990 - in 2025 it’s £296,000 - a 5 times increase
Fucking hell it's not a difficult concept.
HOUSES ARE SIGNIFICANTLY LESS AFFORDABLE NOW THAN THEY USED TO BE.
What a shock that two boomers can't grasp it.
Your figures are wrong, because you've got the year wrong.
I've worked it out to be the equivalent of a joint income of around 100k today, and with ZERO monthly commitments, which obviously is bollocks, Barclays would lend around 500k.
You have quoted one anecdotal example and tried to suggest this is relevant - boomers tended to buy houses in 1990 - one anecdotal example (with zero evidence it’s even factual) proves nothing in reality - does it?
Well yes because the conversation at the time was about our parents buying houses, so I added my anecdote. How would you like me to provide evidence, shall I ask my parents if they still have the 25 year old paperwork in the loft? It's factual, the sale price is on the land registry.
Housing is less affordable now. This is a fact, you can try and deny it all you like, but it just makes you look spiteful and vindictive.
The fact you were able to get onto the property ladder at all is the difference.In 1990 my property was £38,000
I was earning £12,000 a year and 16% interest meant over 50% of income was on a mortgage. I got a part time job at the weekend and I lost £4 grand when I sold it
Gosh it was a cake walk
A house? You were lucky to live in a house! We used to live in one room, all 26 of us, no furnitureI was earning £12,000 a year and 16% interest meant over 50% of income was on a mortgage. I got a part time job at the weekend and I lost £4 grand when I sold it
A house? You were lucky to live in a house! We used to live in one room, all 26 of us, no furniture
A house? You were lucky to live in a house! We used to live in one room, all 26 of us, no furniture
The fact you were able to get onto the property ladder at all is the difference.
And I’d imagine they are all in fairly decent careers.I can only go on what I see. One of my children and 3 of her friends all own houses worth £250k plus
I can only go on what I see. One of my children and 3 of her friends all own houses worth £250k plus
Thank god for that imagine the market overheating if people like that got a foot on the ladder.And I’d imagine they are all in fairly decent careers.
My house is worth 250k+ yet I’m the only one out of my friends to own a house at 27.
I realise I am in a good career and decently paid job, but the reality is for my friends who all have good careers in trade, that without a partner they won’t even be considering the possibility
Oh so anecdotes are fine now, cool.
Pretending there isn’t a housing crisis really is some flat earth shit.
That’s very true I remember someone saying never stretch yourself more than 25% of your incomeIn 1990 my property was £38,000
I was earning £12,000 a year and 16% interest meant over 50% of income was on a mortgage. I got a part time job at the weekend and I lost £4 grand when I sold it
Gosh it was a cake walk
That’s very true I remember someone saying never stretch yourself more than 25% of your income
without doubt the lower borrowing has exacerbated the increase in property values as not enough properties are available
Even fly into the south east, you realise that the idea that there's nowhere left to build on is just utter bollocks.I really don’t get why we can’t just build more. Some people just seem to have this deep aversion to it. It’s the most stupid self inflicted injury and it has so many consequences, not least leading to everyone feeling everything is a bit shit.
Even fly into the south east, you realise that the idea that there's nowhere left to build on is just utter bollocks.
I think that’s fair but balanced by most property is out of reachThe other factor as well for people buying then was the great endowment con which lowered payments but the growth never happened and the mortgage isn’t paid.
What I was really trying to hint at was these properties now are around £100,000 and done up to a far better standard then then. Perfectly affordable to most but not considered good enough
I really don’t get why we can’t just build more. Some people just seem to have this deep aversion to it. It’s the most stupid self inflicted injury and it has so many consequences, not least leading to everyone feeling everything is a bit shit.
On the right you’ve got some larger self interested developers, in the middle you’ve you’ve NIMBYs, on the left you’ve got ideological planners (I could tell some stories - mostly Labour councils that blocked/delayed developments)…throw in loose migration policies adding millions to the population and you’ve got this shitshow that younger generations will unfortunately have to deal with. Been a disgrace all round
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