Minimum/Living Wage

[dingledong]

New houses are being built but not a lot and the builders want to make money so they are expensive and generally unaffordable on a minimum wage . I don't think you would get a mortgage on a minimum wage as the building societies want to make money too so only want people who will pay back

 

[Marvo]

Yeah but you're talking like it's cast in stone that it's everybody's right to be a homeowner.

 

[dingledong]

In England that's what we want to own our own house ,other countries differ

 

[Marvo]

But in England you embrace a capitalist system where for every winner there's going to be losers. The aspiration to own a house is what makes you buy into the system, it's what motivates you to play the game against all the other players, a game where you win by beating your opponents. It's a competition where the losers fall and the only thing that breaks their descent to abject poverty is the safety net otherwise known as the dole.

 

[dingledong]

Correct young man so make cheap sell high
I would think every country must be the same winners and losers ,more losers than winners , I do work for a kebab chicken shop the owner pays £3 an hour ,some weekends he makes£8000 he is near a football stadium but 90% of people would try and keep there wages paid out Bill as cheap as possible

 

[Octopus]

In London loads of new homes are bought by over seas buyers who never move in and sit back and make 10+% returns for doing nothing. Buy to let mortgages are easy to come by for people with money. These 2 things are causing big problems. Londoners are moving out, and the ripples are doing the same further out. For less well off people the issues worse

I've got 2 teenagers and I can't see them ever leaving home when a small 2 bed house around here is £250k +

 

[dingledong]

It's only 500 k for the 2 of them Murdoch ! Start working weekends it won't take you long

 

[shanky887614]

I'm trying to connect the dots. How is the the cost of houses in affluent areas connected to the minimum wage?


Why isn't the number of new homes being built being driven by the demand for housing? If house prices fell it wouldn't help anyone who already owns a house, their debt would still be the same and their repayments wouldn't change, it would only help new buyers who don't already own property.

its a lot cheaper to buy than rent marvo but a lot of people struggle to get enough money together for a deposit


the problem is whenever they build affordable housing some people are buying then all

where i used to live one guy bought 8 on the same street.

they were built for first time buyers