Halifax +2.6 % MoM

lostinrates

Dan: wrote: »

This has ben great for FTBers. 20% down from peak and cheap, cheap mortgages - what more could you have asked for?

Political stability and job security.:)

inspector_monkfish

ad9898 wrote: »

I was just thinking, I wonder where the house is that's sold for 2.6% up, must be a lotto winner somewhere in the north with money to burn.:D

i think alan shearer bought a couple of streets in newcastle with his new salary last month

lostinrates

setmefree2 wrote: »

People don't buy a house on one income these days do they? They buy a house on the basis of 2 incomes. This change must push the cost of housing up but also make people less vunerable than they were in previous recessions.

In general yes, but some people still buy on one income. We would if we go for standard domestic property in the end.

Lotus-eater

setmefree2 wrote: »

But what are the chances that if one partner loses there job, even if they are the sole earner, that neither of you could find work?

That's not the point is it?
If you bought a house on two persons wages and suddenly it goes down to a permanent one wage, things are suddenly going to be very different. No more gym membership and start shopping at Aldi.
Unfortunately, not many people can change like that, hence the spiralling debts.

mitchaa

6 pages already, i'm going for 12 by tea time

Dan:_4

lostinrates wrote: »

Political stability and job security.:)

Never buy a house unless you have job security - it is a given.

As for political stability - who gives a !!!!!! - let them all argue and kill each other and just get on with life.

setmefree2

Lotus-eater wrote: »

That's not the point is it?
If you bought a house on two persons wages and suddenly it goes down to a permanent one wage, things are suddenly going to be very different. No more gym membership and start shopping at Aldi.
Unfortunately, not many people can change like that, hence the spiralling debts.

It was the point - the original post I was responding to said lots of people actually buy a house on the basis of a sole income....:D I agree with your point but you are less likely to get repoed if you have one income than no income surely?

lostinrates

Lotus-eater wrote: »

Unless the 2nd partner is on a very good wage,.

Does anybody ese rememebr what NDG earned and what her nanny was paid. A good wage does not equal much money after childcare is paid.

Personally, I would not cvhoose to have a child if I couldn't reasonably predict I could spend the first 5 years with that child: but that is a personal choice: if I returned to work the child care would however, cancel most of my wage out, it mkes the choice easier to make if you are working purely for money.

For those who are entitled to childcare via employers/elsewhere the cost personally may be less, but we pay that in otherways I suppose, as a society, financially and arguably in other ways.

Graham_Devon

Dan: wrote: »

Never buy a house unless you have job security - it is a given.

Well then no one would be buying houses. You can never ever guarentee job security.

Out,_Vile_Jelly

Dan: wrote: »

The point is, it is more common for people to buy a house on 2 wages then 1.

Well, it's a bit chicken/egg as regards rising prices, but many people (esp in London) have no option other than to buy as a pair, whether as old schoolfriends or as boyfriend/girlfriend. I believe at one point there was a website matching random strangers who needed the second income to get a mortgage for anything half decent.

My old flatmate moved in with, and then married, a woman 7 years older than him who already had a mortgage on a nice 3 bed. So he's now comfortably on the property ladder with no need to save a deposit or payout fees. Sometimes I think arranged marriages have a lot going for them, if I could trust my parents' taste....