Blue in the Face
I'm happy to see that someone has actually managed to point out what I've been saying for years about the housing market in the South West i.e. :
Higher than average house prices * lower than average wages = catastrophe
If my wife does manage to get a teaching job down here then we'll at least be able to qualify for a shared ownership property but what about everyone else that doesn't?
A shortage of new housing (and complete lack of council housing) has meant that those who do build new homes down here can charge what they like regardless of the prices in the surrounding area.
The bit that pisses me off the most is the jammy toe-rags that managed to get a house for 50% of its value 10 years ago (or more) and have watched it more than treble in value since. All they've done is take out huge loans against the equity and spent it on flash cars, flatscreen tvs and designer clothes. My generation will never get that kind of opportunity and we're effectively paying for theirs.
I moved down here in 1997 when you could get a three bedroomed maisonette for £30,000. The same ones are now selling for £120,000+
Roughly 70% of Plymouth's housing is either ex-council or ex-armed forces. That gives you an idea of how big the boat I've missed was.
Thanks to PC Bloggs for the link.