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RE: Modern slavery

in #modern-slavery7 years ago

I just checked and I came across this:

The base rate for borrowing is now 3.75 per cent - as low as it was in 1955.

In those days the average weekly wage was #9.25 and the average house was worth #2,064.
Now 9.25 *52=481
4.3 years to buy a house.
Didn't bother to check the other decades I figure the numbers are wrong also. Except perhaps the last two.

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I got the data from the link i provided in the post. Maybe the data is wrong and if so, i stand corrected, but i still maintain my view about enslavement. The average Joe has to pay mortgage for 30 years, so the real price they pay is not the price of the house, but the price of the loan.

To make things worst, you don't actually own your house :) If you have to pay council tax for your whole life on something you own, to me it does't feel like you really own it.

Buying a house – In 1966 the average cost of a house was £3,620, which equates to about £60,848 in today’s money
Wages – the average annual UK salary in 1966 was £891, which sounds ridiculously small nowadays but it equates to upwards of £14,977 in modern terms.
4 years average to pay for a house.
I have no problem with your idea on enslavement but I think you should be sure of the numbers you use before posting, because it just makes the post look like a lie. If you have good numbers people tend to believe more in the post and at the same time you are not spreading disinformation.

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