How DID House Purchase Become Almost Unaffordable

[Arthur Little]

... it has - here in the UK, anyway - and how!

https://www.theguardian.com/business...e-unaffordable ...

Scroll down the page, to see on the red bar, price *changes with each section - indicating just how much *they've shot up in five decades since 1970.

[Arthur Little]

I have used the word 'almost', mindful of the fact that, as long as there ARE folk who are either adequately well~off, or even ... ...daft enough to be prepared to pay through the nose for homes advertised in desirable affluent locations, especially, then property market profiteering will continue to thrive.

[Arthur Little]

Ahh ... my late mother-in-law sold her house in a highly sought after district of Perth for three grand - which was the "going rate" for a small two-bedroom bungalow back in 1968. Reason being she'd been widowed the previous summer and had suffered for many years from severe rheumatoid arthritis preventing her from living alone and, given that my first wife and myself had, a few weeks earlier, been allocated tenancy of a spacious newly~built, semi-detached council house, it meant there were more than enough rooms to enable my wife's mum to live with us.

I still stay there 53 years later, having eventually purchased the ex-council property for a mere £15 grand under the Thatcher government's "Right To Buy" scheme that no longer exists in Scotland.

I often wonder what sort of sale price that ^ would fetch nowadays, knowing for sure my mother-in-law's detached bungalow would easily sell for £250,000!