[Gllug] [OT] Re: [Long] Down-under response. Was: File On 4 on waste in Govt computing projects

[Alain Williams]

On Sat, Mar 06, 2010 at 10:37:56AM +0000, Richard Jones wrote:

> Yes.  It's one reason why my parent's generation all live in much
> bigger houses than I will ever do.  Mortgages they took out in the
> early 70s inflated away.  Look at the bulge in this list of figures:
> 
> http://safalra.com/other/historical-uk-inflation-price-conversion/

I was going to say that house prices have risen far faster than RPI, but
decided to check (I know that this is not playing the game :-) ), there
are some contradictions, but the best seems to be:

	http://www.pricedout.org.uk/Articles/StatisticsHousepriceinflationdata/tabid/99/Default.aspx

it shows that house prices have been between 3-5 times salary, but 6 times for the
last few years. There is a lot of regional variation.

Part of the problem is the deregulation of the finance industry, you used to be able to
get 3-3.5 times income as a mortgage + a large deposit, then 5-6 times & no deposit was the norm;
the result was house price inflation and we all end up paying more interest to the banks.

I think that we need reguation to be brought in, to make house prices more affordable.

-- 
Alain Williams
Linux/GNU Consultant - Mail systems, Web sites, Networking, Programmer, IT Lecturer.
+44 (0) 787 668 0256  http://www.phcomp.co.uk/
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Past chairman of UKUUG: http://www.ukuug.org/
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