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Median house prices in the UK are 8x median incomes. Banks will lend you something like 4-5x income on a mortgage. Low interest rates aren't helping most peopl
by nly 6y ago
Median house prices in the UK are 8x median incomes. Banks will lend you something like 4-5x income on a mortgage.
Low interest rates aren't helping most people, they're hurting by pushing up house prices. Only those with significant capital for a deposit benefit.
- chrisseaton 6y ago> Median house prices in the UK are 8x median incomes. Banks will lend you something like 4-5x income on a mortgage. Most people buy as a couple, so this is achievable.
- nly 6y agoUntil 1 parent stops working (entirely or goes part time) to help raise the kids
- rory 6y agoYes, sorry, I was referring to the USA specifically. The real estate speculation problem is a lot worse in other Anglosphere countries (UK, Canada, Australia). Outside California, US prices are still somewhat reasonable compared to incomes.