To add to this, the rule of thumb in the UK is your maximum loan is 4.5x your salary.
The average worker could borrow about £157,000.
astreus
joined 1 year ago
Water in soil = water in the pores of the soil
Groundwater = water below the water table
It's not just America though.
Where I'm from:
UK average income before tax) £34,963 - £27,911 after tax (assuming NO student loan and NO pension) (for context: a band 3 nurse with 3 years experience makes £24,336 before tax or £20,631.51 after with no pension)
England average house price: £375,131
Approx ratio after tax: 13:1
Minimum deposit: 5% - £18,756.55
Tax: 0% on first time buyers
Fees: about £1,000 - £5,000
Total cost to get going: Approx £21,750 - nearly a years wage.
Now let's look where I live: Spain!
Turns out Spain really is a load of countries wearing a hat so getting unified stats is not easy. Let's try Barcelona:
Average income before tax: €33,837 - €25,470 after tax
Average house price: €376,399
Approx ratio after tax: 15:1
Minimum deposit: 10% - €37,639.90
Purchase tax: 10% - €37,639.90 (plus 1.5% for new builds)
Fees: 2 - 5% - 7,527.98 - 18,819.95
Total cost to get going: €82,807.78 - €94,099.75
Turns out treating housing as a market to speculate on might just be the problem all along.
*Pay to be enslaved
I turned privacy.resistFingerprinting to true and now get an absolutely unique fingerprint on the tool
"We invented a new kind of calculator. It usually returns the correct value for the mathematics you asked it to evaluate! But sometimes it makes up wrong answers for reasons we don't understand. So if it's important to you that you know the actual answer, you should always use a second, better calculator to check our work."
Then what is the point of this new calculator?
Fantastic comment, from the article.
Lol it's a lyric from dead prez, wouldn't get bent out of shape about it. Literally written in 2000 - I can't even find stats that old 🤷
Okay this sounds interesting as a short term solution (though I don't see what the medium and long term solutions will be) - I'd be interested in knowing what companies are benefiting from this and how much, etc and what the transition plans will be.
But there is one majorly fucked up part of the plan: this is an untested methodology, so they're testing it under the homes of black and poor communities. Louisianan does not disappoint.
Going to go away and read about this. As a Brit living in Spain, I know very little about the ins and outs of what's going on there.
Kinda like the Imperial measurement system, if you are being compared to Myanmar then perhaps stop?
I knew someone would say this, which is why I also used Spain where the houses are as expensive, the pay is worse, and the tax is higher!
It doesn't matter where you go in the West, the dream of liberalism is dead