On Wed, 11 Nov 2009 21:04:13 +0000, Orchid XP v8 wrote:

>>> 2. House prices appear to start at around £300,000 or so. The very
>>> best, most unobtainable jobs pay £30,000/year. That's a pretty friggin
>>> huge gap.
>> 
>> Mortgages tend to be amortized over a 15 or 30 year period, at least
>> over here.  Ours is about $1500/month.
> 
> £300,000 divided by 30 years = £10,000 per year. So, a third of the
> highest income available. And that's neglecting the fact that they
> presumably charge you 80% APR or so on the loan...

80% is illegal pretty much everywhere.  Try more like 5%-7% for the 
average.

And 30K is not the "highest income available" - I know plenty of people 
who make more than that.

Clearly it's not an impossible feat as there are millions of homeowners 
in the UK, right?

Jim

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