4 ms·

Prices go up regardless of increasing wages. This is just an excuse capitalists use to keep wages down.

• onion2k 4y ago
  I don't think that's true for house prices.
  • bearmode 4y ago
    You don't think house prices go up without wages going up? House prices have near enough doubled in the UK over the last 10 years. Average house price at the start of 2020 was 240k, now it's bordering 300k. Do you honestly think that wages have seen growth even close to that?
    • onion2k 4y ago
      Much of the recent rises are due to investment money entering the system and the calculation used to determine mortgage lending limits changing (from 3x your income to 5x or more). The rises in the early 00s were due to buy-to-let money entering the system. In the 80s it was due to significant wage increases. Before that the last significant rise was in the 50s when households shifted to having two incomes as more women started earning, much of which went on buying a bigger house, which dragged prices up. Every time there's a major price increase you can point to a congruent increase in the amount of money available to buy houses. I don't think it's a coincidence.