Message from @wacka
Discord ID: 664597961304440862
Wages are currently outpacing housing by about 3points
UK average
Average can smd
This is only in the last 2 yrs
I'm not about to rail against the wealthy
But dude
Youre not gonna feel it for at least 5
Average salaries are not a great place to be looking to determine the affordability
But that's the trend it's currently going in
I understand the trend
But it's not a good representation
And increased housing prices mean owners have more spendable cash too
This feels bubbly
Inflation all round.... Although to stifle that, they will hike rates
Once you peg everything to inflation I'll care less
Bubble won't pop until well into wage and rate hikes
Minimum wage, taxes etc
This is like nowhere near bubble pop stage
Idk bruh, it's very easy to get finance on liabilities like cars
I think it might be a bit worse if that bubble goes
Housing seems to be constantly growing and we keep pumping out shitty bulk estates at the same huge prices
Sceptical of housing, me and the wife are building
When you get a bit older you'll see.... They were saying that same shit in 1980 when houses cost 20k
Were people on salaries of 20k then tho?
Not that high... But the argument was just different... The outlay per month was the same because of interest rates
I'm not doom and gloom but I'm not confident in the market for housing
It seems like a ponzi scheme
And people weren't to know they'd come down.... For all they knew it would go up
Yes, I talk with my father in law about this
It sucks that that happened
But they drew lucky in the end
Imagine buying a home in 1975 at a rate of 5% or whatever then, a few years later it's 10% .. more people buy and a few years later it was 19%
Good for them
I'm not against the older gen wacka
I get it
We each face our own shit
Good? That was terrible
I typed that before you sent
It was continuation of the previous
And for all they knew.. their 300 a month mortgage that became 600... Could be 1200 in a few years