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A comment on Where Can the Middle Class Buy a Home?.

Re:Where Can the Middle Class Buy a Home? by lifeisstillgood on Thursday October 10, 2013 @06:20PM (#6530392)
I did a little research in London a while back:

assume that the Rich dad poor dad idea of 2.5x income is the value of an affordable house, and the average median UK income is 25k that leaves houses at ~70k. Do you know how many houses are for sale in London at less than 70k, in this city of 8million? 6. just six.

ridiculous

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Re:Where Can the Middle Class Buy a Home? by josephlord on Thursday October 10, 2013 @06:37PM (#6530471)
Median London salary is probably higher. This[1] says about £35K.

Now it doesn't change the reality that much, prices have been driven ridiculously high by the escalating levels of borrowing. We need a strategy to limit the amount of borrowing taken rather than government encouragement for even bigger mortgages.

[1] http://career-advice.monster.co.uk/salary-benefits/pay-salar...

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