Quote:
Originally Posted by andyc
Perhaps, you can point me to data that shows 2015 house prices are the same relative to average wages as they were when you bought your house/land? Then we can have a conversation about lifestyle choices or if people work hard these days...
|
You just have to check how many credit card/debt recovery services, etc... are advertised on TV. People spend the money they don't have. They get in debt. It's the new "normal". House prices have risen a lot but interests have dropped a lot too. Borrowing money and large amounts has been made very easy. Back in the day you were limited in the amount you could borrow and had to come in with a substantial deposit. Is it harder to buy a house today? Nope. You just walk in the bank, borrow half a mill and get all the trimmings. Is it dearer. Hell yeah! Doesn't mean common sense shouldn't prevail. If you can't afford it rent. If you can afford it, start small and work your way up getting out of debt as you move along.