Comments by "Steph Foxwell" (@stephfoxwell4620) on "Housing: 'Young people have a right to be frustrated!' says Matthew Lesh" video.

  1. Why? Buying a house has never been easy. Until 1945 only 25% ever owned a house. It reached 50% in 1973. Then you had to go on a waiting list to get a mortgage. In the Eighties the mortgage payment took up to 60% of take home pay. House costs now, as compared to average income are the same as in 1991 and 2004. If you want a house, make some sacrifices, like every other homeowner did. Don't just pretend to be a victim.
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  2. Only if you are a cash buyer. What is important is the cost of buying a house outright over 25 years, including all interest, capital, fees and taxes. That fluctuates in a ratio between 5.6 and 8 to one against average income. It is currently at 7.6.
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  3. It is a fact that the 25 year cost to income ratio is the same as in 1991 and 2004. Houses are no more expensive. It is just fewer can afford one now. Only 54% instead of 67% because of greater inequality.
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  4. Mike Twenty years ago 68% of homes were owner occupied, now only 59% own, but another 6% are buy to let. Inequality means many more own two ,three or four houses each.
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  5. littlegee. I'm sorry you don't like facts. In the 1990s mortgages were a max of three times single or 2.5 times joint income, but interest rates were 8-10%. Now lenders will do 4.5 times single or four times joint. But the headline price of a house is irrelevant,it is the cost over 25 or 30 years and the net monthly outgoing. Which should never exceed 38% of take home pay.
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