Taxpayer support

[unbeliever 10]

1) I just provided 4 solutions, look at the bigger picture.

 

2) I would not cut tax credits until it's balanced with proper increased income or incentives. Its not common sense to cut families budgets by £1800 per year+. But equally we have an unruly welfare system that's not fit for purpose.

 

3) house price to earnings ratio was 2.8 in 1995. It's now 9.2 in 2015 in London.

 

and you call me ridiculous.:hihi:

 

Nice trick.

Now tell us what the house price to earnings ratio was in London in 1995 so that your 2 figures are actually comparable.

[TJC1 10]

 

Most of the housing crisis is in the SE and the problem there is availability of land.

 

the house crisis is everywhere. the house price to earnings ratio doubled in the North between 1995 and 2007.

 

---------- Post added 23-10-2015 at 15:16 ----------

 

Nice trick.

Now tell us what the house price to earnings ratio was in London in 1995 so that your 2 figures are actually comparable.

 

house price to earnings ratio was 2.8 in 1995. It's now 9.2 in 2015 in London.

 

---------- Post added 23-10-2015 at 15:20 ----------

 

deposits as a % of income have increased from 22% in 1995. To 33% in 2015.

mortgage payments as a % of income increased from 20% in 1995 to a high of 52% in 2007. Currently 32% in UK.

Edited October 23, 2015 by TJC1
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[unbeliever 10]

the house crisis is everywhere. the house price to earnings ratio doubled in the North between 1995 and 2007.

 

---------- Post added 23-10-2015 at 15:16 ----------

 

 

house price to earnings ratio was 2.8 in 1995. It's now 9.2 in 2015 in London.

 

---------- Post added 23-10-2015 at 15:20 ----------

 

deposits as a % of income have increased from 22% in 1995. To 33% in 2015.

mortgage payments as a % of income increased from 20% in 1995 to a high of 52% in 2007. Currently 32% in UK.

 

What was the house price to earnings ratio in 1995 in London.

Otherwise your figures are meaningless.

[TJC1 10]

what was the house price to earnings ratio in 1995 in london.

Otherwise your figures are meaningless.

 

2.8......!!!!

[truman 10]

In the North the price to earnings ratio in 1983 was 2.9 today it's 3.4 hardly a huge rise...

 

http://www.nationwide.co.uk/~/media/MainSite/documents/about/house-price-index/downloads/ftb-hper.xls

 

it's been higher in previous years as well...

Edited October 23, 2015 by truman

[TJC1 10]

here's that link if anyone's interested...I geek out on data so it might not be that interesting to some!

 

http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

 

---------- Post added 23-10-2015 at 15:27 ----------

 

In the North the price to earnings ratio was 2.9 today it's 3.4 hardly a huge rise...

 

it's gone down a bit since the 2007/8 pre crash days.

 

House prices are predicted to rise 25% in next 5 years, however.

 

---------- Post added 23-10-2015 at 15:28 ----------

 

will salaries rise 25% against inflation?? try norfolk and chance.

[truman 10]

here's that link if anyone's interested...I geek out on data so it might not be that interesting to some!

 

http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

 

---------- Post added 23-10-2015 at 15:27 ----------

 

 

it's gone down a bit since the 2007/8 pre crash days.

 

House prices are predicted to rise 25% in next 5 years, however.

 

---------- Post added 23-10-2015 at 15:28 ----------

 

will salaries rise 25% against inflation?? try norfolk and chance.

 

A prediction and what will happen could very well be two different things...

[TJC1 10]

A prediction and what will happen could very well be two different things...

 

It's from a report by the Royal Institution of Chartered Surveyors (RICS).

Edited October 23, 2015 by TJC1
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[truman 10]

It's from a report by the Royal Institution of Chartered Surveyors (RICS).

 

Still a prediction.....

[TJC1 10]

 

it's been higher in previous years as well...

 

interest rates were bang up to 18% in the late 80's.

 

---------- Post added 23-10-2015 at 15:37 ----------

 

Still a prediction.....

 

they conducted a report and looked at a host of factors to be fair.

 

---------- Post added 23-10-2015 at 15:40 ----------

 

We've been through this.

1. It's hard to get planning permission to build housing.

2. There are high regulatory compliance costs in building them.

 

But we also need the state to stimulate growth and increase housing stock. Two sided coin.

[999tigger 10]

1) I just provided 4 solutions, look at the bigger picture.

 

2) I would not cut tax credits until it's balanced with proper increased income or incentives. Its not common sense to cut families budgets by £1800 per year+. But equally we have an unruly welfare system that's not fit for purpose.

 

3) house price to earnings ratio was 2.8 in 1995. It's now 9.2 in 2015 in London.

 

and you call me ridiculous.:hihi:

 

Yes you are because this thread is about tax credits and you clearly do not understand them.

When you get aksed questions you just refuse to answer.

 

A housing thread should have been started elsewhere.

 

Comparisons of price to earnings ratios is completely misleading because it doesnt take into account the record low interest rates.

 

Your solutions are all

 

 

4 things will help the housing crisis:

 

1) Preventing private sector housing is not going to help the housing crisis.

Buidling more social housing, then someone has to pay for it.

 

2) The banks are already regulated. Why do you need more incetives for buyers to inflate the market further? Banks are commercial enterprises, they lend when they feel they cna make money. You clearly dont understand how banks work.

 

3) Im sure employers will like the min wage increased even faster. It wont happen. All that will happen is you will get more inflation and more money chasing the same number of houses. It wont happen becayse the Cons are in power.

 

4) an extensive house building program both social and private. 250k per year+

Whilst you cna build more houses who is going to pay for them and where are you going to find the land? Its not impossible, but building houses costs money. Its not going to happen under the Cons and they will be on power for the next ten years at least.

 

 

You are completely unrealistic.

[TJC1 10]

You dont even understand the benefits system. If a person has no choice but to rent privately, then they will have to pay a private landlord and contribute to their income by way of rent.

 

fine, why should the state or anybody prop up private landlords?

 

an example is London. A million pound council house on the free market VS an affordable rent council house social.

 

private rents are way out of control.

 

---------- Post added 23-10-2015 at 15:47 ----------

 

Yes you are because this thread is about tax credits and you clearly do not understand them.

 

I understand tax credits perfectly. Been self employed for years. When I started out I relied on tax credits just like everybody on low income does.

 

I'm not sure what your argument is, I don't think you know either!

 

---------- Post added 23-10-2015 at 15:50 ----------

 

 

Your solutions are all

 

 

4 things will help the housing crisis:

 

1) Preventing private sector housing is not going to help the housing crisis.

Buidling more social housing, then someone has to pay for it.

 

2) The banks are already regulated. Why do you need more incetives for buyers to inflate the market further? Banks are commercial enterprises, they lend when they feel they cna make money. You clearly dont understand how banks work.

 

3) Im sure employers will like the min wage increased even faster. It wont happen. All that will happen is you will get more inflation and more money chasing the same number of houses. It wont happen becayse the Cons are in power.

 

4) an extensive house building program both social and private. 250k per year+

Whilst you cna build more houses who is going to pay for them and where are you going to find the land? Its not impossible, but building houses costs money. Its not going to happen under the Cons and they will be on power for the next ten years at least.

 

 

You are completely unrealistic.

 

I'm not denying tax credits fill a gap. But you got to change things. If we stay static, wages don't increase, houses don't get built, the welfare bill spirals out of control, expect more of the same but worse.

You never heard of the deficit and public borrowing??

Edited October 23, 2015 by TJC1
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