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  1. #1981
    Quote Originally Posted by Cassius_Smoke View Post
    "In 19XX the average house price was just £29000..."
    This statement is pure nonsense because £29000 in 19XX is probably the equivalent of £290000 today. Houses were not cheap then and are not cheap now. Its just an "emotion-bait" sentence designed to draw out some kind of "shock"..
    Compare it to inflation and how much wages have risen in those same periods and that's where your shock is.

  2. #1982
    Quote Originally Posted by Dogg Thang View Post
    Compare it to inflation and how much wages have risen in those same periods and that's where your shock is.
    Yeah; the point is still right (giving the mere number is useless) but if you compare them like-for-like, it still shocks people how much a house costs. This is an argument I had with my parents years ago, how my dad thought I was living extravagantly because he afforded his house on a job barely over minimum wage. We ran the numbers one Christmas when it flared up as a row, and he actually apologised to me - and he's a proud guy.

    Then again, it comes from the idea that houses will always rise in value, which has become something of a self-fulfillng prophecy. Can you imagine the chaos if tomorrow, house prices across-the-board peaked and then went down? (not into slower growth, but the actual value went down)

  3. #1983
    When the metal parts in a lever-arch file no longer closes properly.

  4. #1984
    Quote Originally Posted by Asura View Post
    Yeah; the point is still right (giving the mere number is useless) but if you compare them like-for-like, it still shocks people how much a house costs. This is an argument I had with my parents years ago, how my dad thought I was living extravagantly because he afforded his house on a job barely over minimum wage. We ran the numbers one Christmas when it flared up as a row, and he actually apologised to me - and he's a proud guy.

    Then again, it comes from the idea that houses will always rise in value, which has become something of a self-fulfillng prophecy. Can you imagine the chaos if tomorrow, house prices across-the-board peaked and then went down? (not into slower growth, but the actual value went down)
    Some googleing has indeed resolved this madness in my mind.

    The average house price of a house in 1984 was £29,000, which when adjusted with inflation is about £88,000 in today's money.
    However the average house price today is £243,639 which is about £90,000 in 1984 money.
    I conclude that the statement of the prices being cheaper in the past is valid.

  5. #1985
    Quote Originally Posted by Cassius_Smoke View Post
    Some googleing has indeed resolved this madness in my mind.

    The average house price of a house in 1984 was £29,000, which when adjusted with inflation is about £88,000 in today's money.
    However the average house price today is £243,639 which is about £90,000 in 1984 money.
    I conclude that the statement of the prices being cheaper in the past is valid.
    Yup. They WERE cheaper whatever way you looked at it back in the early 80’s, before the mental inflation period were house prices quadrupled almost in the space of a year. A lot of our parents benefited from this mental period, and upgraded to bigger houses on the back of the ridiculous profit they made on their first house.

    Now there a smug bunch of s**ts because they were in the right place at the right time.

    “Well at your age I owned my first home” Oh shut the F up, no you wouldn’t today you party time 80’s generation.

    My dad,
    1981. First house for 22k, almost outright.
    1985. Sold it for 82k.
    1985. Bought a house for 220k.
    2015. Sold it for 550k.


    That situation was a one time thing that they all benefited from.
    Last edited by fishbowlhead; 03-09-2018 at 02:30 PM.

  6. #1986
    Re houses I think DT and Asura have good points, the way I explained it to the daughter recently was this;

    When I was a kid all of my mates had similar lifestyles where employment was concerned for parents in that dad went out to work and mum was housewife, for me we lived in on a council estate as with some of my mates, others lived in mortgaged houses but the end result was the same.

    Fast forward to when my older sister got married and bought a new build house in the mid 70's, brother-in-law worked full time and my sister had to work part-time to afford the mortgage.

    When I bought my first house in the late 80's both me and my girlfriend at the time had to work full time to make the payments.

    These are simplified examples but you can see where this is going.
    Interestingly (or not depending on your point of view) in all three examples everyone still had a big social life, my dad was in the pub every night, sister was eating out often, as for me we were in the pub Thursday and Sunday and clubbing it Friday and Saturday, both smoked at the time and we still went on the Med package holidays in summer. Even though we were both on low wages in our peer group there was never any worry about not being able to afford a house, it was just a matter of saving for two or three years and you would have your 10% deposit, the only thing was whether you were going to go more expensive like we did and get something nice off the bat or go cheaper like £15k or so and put some work in to renovate.
    Our house, a semi-d on a new housing estate cost us £23k in 1987, they are currently going for £110-£120k.

  7. #1987
    Quote Originally Posted by fishbowlhead View Post
    My dad,
    1981. First house for 22k, almost outright.
    1985. Sold it for 82k.
    1985. Bought a house for 220k.
    2015. Sold it for 550k..
    Through one thing and another I didn't benefit from the housing market and even if I did it's not my style to go gloating and for example making our daughter depressed about her future, far from it.

    I have benefited from the pension which is another but for me more important issue but I still don't show off about it just basically explain I've been bloody lucky.

  8. #1988
    Agree with most above re comparing income vs house prices.

    Also, the forum font does appear to have changed, at least between my home PC and work PC, both running Firefox...!
    Lie with passion and be forever damned...

  9. #1989
    I like the font. It looks like a Mac.

  10. #1990
    Quote Originally Posted by Cassius_Smoke View Post
    There are two recycled statements which really drive me mad.

    One is:

    "In 19XX the average house price was just £29000..."
    This statement is pure nonsense because £29000 in 19XX is probably the equivalent of £290000 today. Houses were not cheap then and are not cheap now. Its just an "emotion-bait" sentence designed to draw out some kind of "shock".
    Adjusted for inflation £29,000 is £53,000 in 2018

    stay in school kids

    https://www.bankofengland.co.uk/mone...ion-calculator

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