The price of a home to you

[amadeus]

It's hard to say; the average price of an apartment or a house varies from place to place in the prefecture. There are some fixer-uppers

If I wanted to live outside the city, I could easily have an apartment three or four times the size of my current one for the same price (about $550-600/mo.), but that would add at least an extra half an hour to my daily commute.

 

[illram]

If you divide the cost of a decent, two room apartment (edit: 1 bedroom, 1 living room, 1 kitchen) where you live, with your annual salary after taxes - what number do you get?

Cost, i.e. sale price? Close to 11 either way I slice it. The Bay Area housing market is utterly absurd.

Take list on anything and add about 30% and pay in all cash with zero contingencies and maybe, maaaaaybe you beat the 35 other offers on the property.

 

[PhroX]

Just shy of 9 for me. :/

 

[GinandTonic]

In a lot of London boroughs the yearly house price inflation of the average home higher than the average residents wage. Average income v property value is 35x in Camden and going strong. Completely nuts.

 

[Grisu]

a typical 2-room appartment around here would come for about 500-60 0k, so that would mean about 6-7 for me,

 

[Quackers]

The phrase "cost of living crisis" which Labour have been pushing is pertinent to housing.
In the United Kingdom affordable housing in London, the South East, the Midlands and many major citiies is limited. I don't have any figures on me, but the ratio between wages and house prices has grown dramatically over the past 30 years.

Unless you're earning top £££ in London it will be very difficult to afford a house. A flat is a possibility but that isn't ideal if you want children. I reckon the three million immigrants who needed a place to live didn't help this situation, nor did the lack of major house building over decades.

Unfortunately, nothing will change. The property owning population will not tolerate any policies which will slow down the ever increasing value of homes. Politicians would prefer high economic growth and house buying forms a considerable component of that. An average youngster in certain parts of the country is screwed. They will have to move elsewhere to find reasonable housing.