Real Estate /
What do you pay in rent/mortgage in Poland? [144]
Peter is correct in the average UK house prices have never been 8x salary.
I don't really get this constant comparison you all are making about how many times your salary houses are. What difference does it make if everything else you buy is really cheap/really expensive?
Mr. X earns 50,000/year and after paying for his "stuff", he has 3,000 left over.
Mr. Y earns 50,000/year and after paying for his "stuff" he has 10,000 left over.
I also think about places like Denmark/Sweden/Norway where a huge chunk of your salary is taken from the top for taxes and other socialized programs.
Where I live down south, salaries are about 15% less than the northeast where I grew up and all my family still lives. But, houses are less than half the cost down here, property taxes are 50-80% less, insurance is much less, but then things like gas, food, movie tickets, day care, automobiles, etc., are the same price, so then lifestyle and life "situation" comes into play.
Then there's how much property you own. Mr. X might have a gorgeous home on 1/4 acre and Mr. Y might have a decent house on 10 acres but Mr. Y's house is "more expensive" due to the property, and then of course we have to consider where that property is because as we all know location heavily comes into play.
I just don't see how the comparisons you're all making have much accuracy.
Also, as we all have been in many houses over our lifetime, one person may think they own a great house, and you may think it's a total dump, so when someone says, "it's a great house for X amount", it may very well be a total dump. We all have different standards which is exceedingly evident when people on this forum say Poland is "upper middle class" because people in other parts of the world live in mud huts and don't have running water.