Quote:
Originally Posted by joglynne
Yup. Borrowed £2950 which doesn't sound much but at the time our combined weekly wage was around £16. So, although the amount we borrowd sounds very very low compared to to-day so were our wages.
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Sure but wages didn't keep up with house prices so even relative to wages it'll be worse.
House prices have gotten out of control and that's causing problems for everyone. It's obviously had for people that don't own a home made worse for them by rent which is also getting out of control as landlords leave the market but it's also made the economy as so much of it is being held up in housing costs.
It's crazy the Government won't do anything about it because it's undermining their own vote. People tend to vote Tory once they become homeowners but the average age of home ownership keeps going up and up.