Britain: an economic train wreck
#318
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I've just bought a place (first in Australia, and WA's average salary is $80k .. and there are a lot of places available starting around $400k .. that's only x5.
The x5 is about the same as we were looking at in the UK.
Just to add the 'average' is aparently 490k.
http://www.landgate.wa.gov.au/corpor...an+House+Price
Which sounds about right.
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#319
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The silver lining of course being that houses are going to collapse in value like a lead weight dropped off a bridge. Asset prices falling everywhere. Gold & Silver down (Sorry Renth...) house prices down, narrow M1 down all over the place, UK, China, Spain. All governments terrified by deflation, printing money like toilet paper and economy still flatlining.
Despite all this I'm still not ready to call the D word.
Despite all this I'm still not ready to call the D word.
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#320
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The silver lining of course being that houses are going to collapse in value like a lead weight dropped off a bridge. Asset prices falling everywhere. Gold & Silver down (Sorry Renth...) house prices down, narrow M1 down all over the place, UK, China, Spain. All governments terrified by deflation, printing money like toilet paper and economy still flatlining.
Despite all this I'm still not ready to call the D word.
Despite all this I'm still not ready to call the D word.
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#321
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Since 1980 average wage up 400% average house price up 1900%. That house you got for 5 times salary used to be 2 times your salary.
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#323
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TVs, cars, computers etc. are all now a fraction of what people would have paid in 1980.
So the houses themselves have gone up, but actually filling them has gone down.
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#324
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The items you mention are cheaper now because they are made by slaves in China, but the house you buy is made by Australians, so it's unaffordable. If Australians made your pasta tongs they would cost $25 not $1.
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#325
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#326
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But it matters not where they are made, it matters on the cost to me.
http://news.domain.com.au/domain/rea...201-1o7wg.html
http://images.watoday.com.au/2011/11...39/ANZ_420.jpg
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Who can blame the Chinese for replicating what Great Britain did with it's work force at the beginning of the industrial revolution. They are just following a tried and trusted method for creating a Wealthy Nation.
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#330
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We've a lot of China, India and then Africa to exploit first.
By then, Europe will be a 3rd world wasteland and we'll have the Spanish stitching our nice new trainers.
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