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John Williamson

wrote:
On 20 Feb,
Tim Watts wrote:

So houses have definately doubled WRT wages if not more, which explains why
all married types need to have 2 jobs these days and the days of a stay at
home parent are over unless one has a mega financial parasite type job.

That's because (until recently) banks/building societies would lend out up to
5x salary, compared to 2.5x (+1 possibly for spouse) and demanded a 15%
deposit (which could be reduced with an insurance policy taken out).

Houses cost more or less what the lenders will lend.

I've seen here two almost identical houses on the same street with the
mortgageable one selling for twice the price of the unmortgageable one.
The only real difference I could find was a mine tunnel under the cheap
one. The mine closed over thirty years ago, and the houses were 19th
Century.

--
Tciao for Now!

John.