Reply With QuoteWell reading the doom and gloom in the media I didn't know this and assumed horrendous inflation was here to stay driven by high energy costs. Hopefully not.Originally Posted by ichaice
Not like the media to whip up a frenzy!
Have you actually fact checked that?
That example equates to £163pm or £1956 pa assuming 8%
This says average weekly wage was about £120 so £6240
https://api.parliament.uk/historic-h...ge-weekly-wage
Other sources say about £6k pa.
I assume these are gross. But even if it’s take home the mortgage was about 33% of wages in 1980. And the quote above says 11% of disposal income.
I’m calling BS.
That said the point stands property was more affordable 40 years ago but that’s not news.
Last edited by Montello; 5th November 2022 at 22:36.
Well reading the doom and gloom in the media I didn't know this and assumed horrendous inflation was here to stay driven by high energy costs. Hopefully not.
Not like the media to whip up a frenzy!
Don’t forget this is rip off Britain, they will milk us for all they can, after all the wholesale price of oil is down but fuel prices have not dropped.
I work in the public sector, I managed to dig up the exact figures for my wage and house price (at post 11) comparing 1997 and 2020.
Here is a good page showing historic house price to earnings ratio...
https://www.economicshelp.org/blog/5...affordability/
Going from 3x in the early 1990s to 7x in 2022 (and a crazy 11x for London) it's no wonder people need low interest rates for this financial house of cards to stay standing. I have no idea where this goes in the future, it either collapses or the inequality divide just gets larger as wealth just gets inherited generationally leaving little opportunity for the poorer end of society to better their economic position?
Patience Paul, patience! It takes a few weeks for the oil price change to work through to prices at the pump.
On a different note, there’s a simple answer to reducing student debt but it won’t be popular in certain quarters. Cut down the lengthy holidays that universities indulge in and fit more lectures into the working day. A 3 year course becomes a 2 year course, students waste less time being students and rack up less debt......what’s not to like! OK, lecturers ans students need to get off their sorry arses and work harder, welcome to the real world, the rest of us work 47 weeks/year. Like turkeys voting for Christmas this is unlikely to happen but the logic is hard to argue with. The culture needs to change!
My point was the post claimed that the mortgage was 11% of disposable income which is complete BS unless someone can point a problem with my figures.
The multiples are well out of whack but that isn’t news.
No, I think you are correct...always good to fact check.
That’s the trouble with social media. Ryan posted something that had been reposted by someone else and who knows who else … the garbage gets everywhere and no one stops to think is that actually correct? If people see it on the screen of their phone then it’s the truth … it’s a big part of the problem.
Can’t see that being very popular somehow.
Started out with nothing. Still have most of it left.
https://youtu.be/VKHFZBUTA4k
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
My degree (Electronics) was 8 hours a day every day except Wednesday’s when we had the afternoon off for sport. 4 Lectures every morning and labs in the afternoon. In the holidays I worked to make ends meet. It wouldn’t have been possible to condense into 2 years.
Granted some subjects could but not mine and many others if you accept people had to work the holidays to make ends meet.
This surprised me...
https://www.bbc.co.uk/news/business-63517823
25% of UK adults have less than £100 in savings. I think Universal Credit is claimed by only about 8% of the population, 25% therefore indicates how far up the 'financial standing' ladder the cost-of-living crisis goes.
I think the highest proportion of "benefit cheats" are in Westminster.
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
I was in the bank the other day and they spoke to me a bout savings accounts at 4&5%, the only trouble is you’re very limited on the amount you can save each month, when she said you can earn £3 per month I lost interest
Incredible isn´t it, and alarming. It´s awful being that skint, life feels very precarious but when you´re young, just starting out it´s usually a transitory phase...but to think there´s 14 million Brits, with barely a proverbial pot to...and that´s apparently their lot in life, in a rich country...something is awry that we can generate so many poor people.
Wow nearly 10 quid for 2 coffees and a cake.
Last edited by Passenger; 7th November 2022 at 12:28.
Where would the physical space come from?
It's been tried - they close quickly because they aren't popular with students - many of whom need the summer to earn money.A 3 year course becomes a 2 year course
You've got a strange idea that there is a summer holiday in universities - there isn't - it's not a school. Many Universities teach all year around (Post-grads in the summer) and research goes on all year around. Academics book holidays like anyone else. In fact one of the problems that many Universities have is that academics don't take enough of their holidays creating a balance sheet liability.OK, lecturers and students need to get off their sorry arses and work harder, welcome to the real world, the rest of us work 47 weeks/year.
The problem is the logic is rubbish as you haven't got a clue what you are talking about - but hey this is the internet and that doesn't stop anyone.but the logic is hard to argue with.
Last edited by Alansmithee; 7th November 2022 at 13:53.
Had 2 drip coffees and 2 cakes in an independent cafe in Kingston yesterday am. £20.20!
Was in the garden centres at the weekend. Couldn't find a space to park in one of them so went home in the end. Whole place rammed.
Went for a Kebab last night in Green Lanes which is Mecca for kebabs in London, not known as expensive, but two starters, two soft drinks and two mains including service was £67. This place was also rammed.
Still not sure which was more surprising, the price or the fact the place was still packed.
You need to got to the John Lewis caff for nearly half the cost.
Nice views of the river too.
I trust they were outstanding!
Please gods take me if I start going to garden centres on my weekends.
Thing is - you see the people with money - in the same way that as a middle aged middle classed affluent professional I mix with people like me. It's only when I go to the council estate where I grew up (and my dad still lives) I see how bad it is - the pubs in particular in my home town are empty - I suspect a few will close shortly.
Money or a credit card and merely the appearance of money?
Also London´s different, more affluent, younger, buzzier, that is the draw... compared to almost every other part of the UK.
Last edited by Passenger; 7th November 2022 at 13:03.
Was about to post along the same lines, for contrast the cosy wee pub at the other end of the village Fosters is £3.20 per pint, the two ex mining towns about a mile or so away are shit tips - never having recovered from Snatcher.
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
Just a quick reminder that this is in the G&D not the Bear Bit so watch the language everyone
Paul's logic is flawed as usual - why not sack off all Universities and just go for Open University - that way you get a working wage AND a degree at the same time... This is rhetorical, by the way.
Noted - thanks
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
This is true. My perception of that area is from growing up when it was rough and not desirable but things change. Just went on Rightmove and a small terraced house in that area is easily £900k. Reality is last night I driving from a less desirable area to somewhere relatively high end for some chops.
But the absurdity of a small terraced house for 900k, in a small, cold, damp, backwards looking/travelling country, a country offering the dubious pleasure of paying a fiver or tenner for cup of probably not great coffee...surely, even here at TZ which dwells within somewhat of a bubble, there must be growing numbers looking at the costs of pretty much everything, metaphorically scratching heads and thinking sod this for a game of soldiers or at least questioning whether there isn't another, better way...or does ichaice really speak for the majority
Last edited by Passenger; 7th November 2022 at 13:28.
The missus is a coffee snob and apparently that cafe (Beanberry) has the best drip coffee. She goes to all the Barista championships around the world so I have to nod and smile (just like she does with my watches).
All tastes the same to me.
Many of my self-employed mates do have more money than me... because it turns out they never got into the habit of putting anything in pension - I had a look at the ONS data and the average pension pot for the self-employed is about £40,000...
I guess that is a problem for another day...
I'm self employed and I have zero pension provision either (save for the contributions to the state pension via NI).
This is the main reason I set up a BTL. I spoke to a financial advisor and he was unable to fault the logic. To get anywhere near the net rental yield, even with the tax advantages, I'd have to put eye-watering amounts into a pension pot (and hope the markets don't take a dump).
I guess so, guess they love their work and happy to keep at it until close to the end, or have put other plans in place.
Never mind interest rates, where did you choose? Always on the lookout for a great kebab recommendation when I’m in town.
Went to Hala on Green Lanes, N4 but most places next to there are decent. Usually go to any of Hala, Diyarbakir or Antepliler. The problem is they're great when they're a single shop but when they get popular they buy two shops next door and when they reopen they can never handle the volume. Never as good as it was.
Don't think I'd go back to Hala. They now serve curly fries and I can't see anyone serving curly fries as a legitimate dinner restaurant.
Diyarbakir Kitchen
https://maps.app.goo.gl/wLaBLTBrNXBcLmCP7?g_st=ic
Agreed, they've transformed from what they originally set out to be (places to buy plants etc) to destinations for an day out, complete with overpriced cafes (sorry, 'restaurants')! I was persuaded against my will to visit a recently opened large garden centre a few miles south of Leeds by my better half, a large chunk of real estate with a big car park and lots of floor area selling stuff at top prices. This was a Monday morning yet the place was quite busy, some folks clearly have nothing better to do with their time. Wifey made me visit the restaurant for overpriced lukewarm coffee which, to her credit, she paid for.
Maybe it's me, but I just don't get it.
In my experience many self-employed folks don't worry about pensions or investments until it's too late, consequently they end up having to keep working far longer than they'd like to.
and, of course, they will only pay back (at a very affordable rate) IF they are earning more than the national average. Hardly anything to worry about really surely
I haven't looked for a while but most people would be shocked at how little the LTA threshold for pensions would buy as an index linked annuity. Not going to be any more generous going forwards as it seems anyone that has earnt a few ££ will be targeted even where they accumulated that by being sensible!
Rumours in the press that LTA of £1073k will be frozen for another couple of years, until 2028.
Yep, back to a life of leisure soon as there won't be any point grafting to make a few more ££ if it's going to be subjected to a series of direct and indirect tax grabs.
Cheers. Hala was the one I’d chosen to visit, but will take your advice and agree on the fries. Haha
Amazing to see how a thread meanders, gets a bit feisty at times, hits a groove and rests with pension chat. .
Sent from my iPhone using Tapatalk
Same here, I just don't get it.
They'll all have been transformed into grottos now.
Still too expensive for Fosters!!
Camden Hells is £6.80 a pint in Hayes Galleria by London Bridge…nearly fell off my stool and I live in London!
Yeah I sort of agree, I usually stick with premium lager but I don't like the "wife beater" they have, that said for Fosters it's a very crisp well kept jar.
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
Nearly £7 for a normal-ish pint, that is really pushing it. I am not sure I could have stomached that, but guessing by the time you’ve ordered it is too late!
Despite the politics, staff and customers, a lot of good priced beer at Spoons. Just a shame I’m yet to find one even remotely acceptable during usual busier hours.
Anaemic Australian branded p1ss I would say; those with no taste buds. Dreadful stuff, but gives Bud and Coors Light a run for their money, but not in a good way,
I had a pint of some nice ipa can’t remember the brewery in Brighton the other week in a pub in kemptown and that was £7 a pint
Blimey that's airport bar type money. Funnily enough IPA's are a more straightforward brew than lagers.
Last edited by Passenger; 8th November 2022 at 18:47.
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