House Price as a Multiple of Earnings To judge affordability of the housing market, some metrics compare the average home price and the average salary in a given area. For example, in 2014, the average London home cost 16x the average Londoner’s salary. Averaged across England that multiple dropped to 10.But just the previous year, the multiple […]
affordable housing
3 Will I ever be able to afford a home?
Personal Financial Fitness If you’re ready for the journey to financial peace, start with The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey.Dave’s first book, Financial Peace: Putting Common Sense Into Your Dollars and Cents, explains WHAT to do with money. It is a guide to commonsense money management that is currently used as a textbook in […]
Affordability is Relative
The definition of affordability has to be related to income and debt as well as other obligations. When you think of affordability, do you imagine the genteel poverty of the family in Jane Austen’s Sense and Sensibility? A single parent in Bangladesh? Perhaps an extended family of twenty-five in Sicily? For simplicity, let’s assume a middle class […]