House Price Poll

[andrewducker]

From

You'll note that the ratio is still well above the maximums of the bubbles in the 1970s and the 1990s.

[Poll #1337633]

Comments

[drplokta]

Actually, the banks lending at 3.5x to 4x salary indicates that they are taking lower interest rates into account. Back in the late 80s, when I bought my first house, it was 2.5x to 3x.

The main problem at present is that you need a deposit of 20% or 25% to get a decent mortgage.

[the-magician.livejournal.com]

The deposit is indeed my worry at the moment, because even if I can rent my house in London out for a sum that will cover the mortgage, I don't have a lump sum deposit to put down on a place here in Cambridge.

And it will probably take me more than six months for the difference between what I paid in London and what I'm paying in rent to generate enough money to pay for the house repairs in London ... so I can't start saving for a deposit until the second half of this year ... but if I sell off a lot of stuff (I don't need it!) and cut back on expenses (like conventions!), maybe I'll be able to look at buying something in second half 2010. Or a lottery win would be nice!