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I wondered what the Experts behind iTulip feel about the megalithic housing bubble in the UK?
Ours also started around 1996, albiet from a low after the crash of early 90's, but has progressed to astoundingly stupid proporttions, on a NATIONAL scale...forget regional, this thing goes to the heart of the worst unemployment areas of the country. It went into plateau over 2004/2005, but is beginning to pick up again....whats happening? Will I ever be able to afford my own home?
A little perspective. I currently live in a modest 3 bed house and pay £600 a month (thats about $1000 i believe). If i were to buy the same property i would have to pay £900 ($1500) a month in mortgage repayments!!! I am earning about 150% of the National average wage in an area a little below national average, and yet I find that traditional income borrowing multipliers provide me with little more than a small 2 bed flat!! (no good for a family!)
I think this housing bubble is across most of the western economies...how about a global perspective?
Thanks
Topher Bear
Ours also started around 1996, albiet from a low after the crash of early 90's, but has progressed to astoundingly stupid proporttions, on a NATIONAL scale...forget regional, this thing goes to the heart of the worst unemployment areas of the country. It went into plateau over 2004/2005, but is beginning to pick up again....whats happening? Will I ever be able to afford my own home?
A little perspective. I currently live in a modest 3 bed house and pay £600 a month (thats about $1000 i believe). If i were to buy the same property i would have to pay £900 ($1500) a month in mortgage repayments!!! I am earning about 150% of the National average wage in an area a little below national average, and yet I find that traditional income borrowing multipliers provide me with little more than a small 2 bed flat!! (no good for a family!)
I think this housing bubble is across most of the western economies...how about a global perspective?
Thanks
Topher Bear
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