The reason for my pessimistic thoughts

Lotus-eater

socrates wrote: »

The reasons for the change from your/my parents time - is that the minimum requirements to be normal are so much higher.

Unless you have all the following you are deemed to be abnormal or that there is something wrong with you. For families some of the things in the list will be needed by each member.

SKY TV
latest flat screen
the latest mobile phone
yearly holiday abroad
a car
ps3 - wii
dvd player
computer
internet
new wardrobe of clothes annually
memberships - gym etc
therapy treatments - nails, hair, sunbeds etc
restaurant/take -aways at least once a week

plus about another 20 things if you are a family.

See, I've always known I was abnormal
Yes, an abnormally low mortgage because instead of buying most of those, I put the money to what I consider good use. I am looked upon with a certain degree of envy mixed with confusion and bafflement, by the very few people in real life that know that

Conrad

Lotus-eater wrote: »

See, I've always known I was abnormal
Yes, an abnormally low mortgage because instead of buying most of those, I put the money to what I consider good use. I am looked upon with a certain degree of envy mixed with confusion and bafflement, by the very few people in real life that know that

The middle way is imo the best balance. Being overly tight and focused on paying off the mortgage I find makes such people pretty vacous, with poor life experiences.
Taking a bit longer to pay off the mortgage, and enjoying more of what life has to offer such as snow boarding, whale watching, curries, hobbies, the odd indulgance seems to me the best of all worlds.

When I'm 80 I dont want to look back on a life dulled my an obsession with amassing money.

Conrad

Lotus-eater wrote: »

I am looked upon with a certain degree of envy mixed with confusion and bafflement, by the very few people in real life that know that

Mmm, did you see on the Apprentice how the candiates see themsleves in a very different light to how others see them?

We have a tight neighbour obsessed with paying down the mortgage - none of us envy him, in fact we pity him.

pipkin71

Is the RTB scheme still in existence?

Lotus-eater

Conrad wrote: »

Mmm, did you see on the Apprentice how the candiates see themsleves in a very different light to how others see them?

We have a tight neighbour obsessed with paying down the mortgage - none of us envy him, in fact we pity him.

Ahh no, that delight of television is something I make a habit of missing on a regular basis. Like always

I have everything I want and need. Just I seem to want and need less than most other people. And I couldn't give a rats !!!! what anybody else thinks of me I'm sitting here self employed with no work and no worry, because I'm now paying £70 a month mortgage. A happy place.

I do have a wii and I like takeaways though, does that make me more normal?

Graham_Devon

In response to a couple of questions.

No, parents never had council accomodation and make money that way.

Secondly, want to point out I'm not moaning, I am far better off than loads of people my age that I know, however, I am just sharing my views as to why I feel that the market, and life as we know it, surely cannot continue. How on earth will my generation and generations below me live.

Otherwise, as conrad says, my generation will all get to 80 with absolutely nothing to show, and a life of work JUST to provide a roof over our heads....and thats no life.

I do have most of the things listed, I do have an LCD TV, internet, 2 computers etc. No sky though, tis rubbish. Like I say, I'm not moaning. But buying a £400 LCD TV is a bit different to buying a £180k house for which you need job security, deposits etc etc.

I believe wholly in enjoying life, so I'm not going to forego those things which I would like to buy just to provide shelter, as then I really will ownder what the hell I'm getting up every day for.

purch

My parents bought their first house in 1960 (about 4 months before I was born)

17 West Street, Minehead. I don't know what they paid, but it didn't leave our family of 5 penniless.

My Dad was a plumber, Mum didn't work

In Dec 2007 an identical terraced 3 bed, 14 West Street sold for
£ 187,000

I'm not sure what that tell's us about affordability, but it puts some context into the story.

Conrad

Graham_Devon wrote: »

life as we know it, surely cannot continue. How on earth will my generation and generations below me live.

Graham, all pessimists at all times have always said this and always will.

You need to reprogramme the way your brain process's the world, or you will forever be shackled.

Honestly Im a pessimist but I battle with it rather than let it robotise my thoughts.

Really2

Graham_Devon wrote: »

Otherwise, as conrad says, my generation will all get to 80 with absolutely nothing to show, and a life of work JUST to provide a roof over our heads....and thats no life.

I do have most of the things listed, I do have an LCD TV, internet, 2 computers etc. No sky though, tis rubbish. Like I say, I'm not moaning. But buying a £400 LCD TV is a bit different to buying a £180k house for which you need job security, deposits etc etc.

I believe wholly in enjoying life, so I'm not going to fore-go those things which I would like to buy just to provide shelter, as then I really will ownder what the hell I'm getting up every day for.

OK i am 33 have a 5 bed detached and should be mortgage free before 50.

How can you not see a house as an asset yet you have no qualms spending £400 on something worth £100 when you get it out of Curry's.

A rent free retirement is invaluable also when you die it becomes an asset for your family, and their family after that.

Unlike some, I see a bigger picture and it ain't all just about me.

baileysbattlebus

mitchaa wrote: »

Location, location, location;)

I suspect you are priced out in the madness in the south? In a lot of Northern regions above the Watford gap, your average wage would or should be enough to buy you a 2bed flat with little trouble.

Add in a 2nd income to that and things get a lot lot easier. I agree, we may not go back to the singular wage buying a 3bed house as in your fathers case, but perhaps you wouldn't have the same views you do now if you were living in a more affordable northern area and your salary was going a lot further?

Did your parents live in council accomodation and then benefit from the RTB scheme, perhaps this would explain why your dad was able to afford the house on a single salary and you are not?

Graham lives in the south west - when his father bought according to Nationwide in 1982 the average price in the south west was £25k. By 1985 the average price was £42.5k now it's about £168k

It does very much depend on where you live - I have a niece who bought a 2 bed flat in North Shields for £80k, about 3 years ago - on her own on a new civil servants salary of about £16k. I'm not sure what her deposit was, but her parents helped. A similar flat here near Reading would have cost about double that.

My daughter and her partner bought a 2 bed house in Lower Earley near Reading at about the same time for £190k and a joint income of £50k.

Our other daughter and her son live with us and she has a basic salary of £22k - she can't afford to rent or buy anywhere locally for the 2 of them. A 2 bed flat is about £700 per month and to buy about £160k min.

In some areas of the country you can still find affordable property and in some you just can't.

It's always been like that - we moved from Scotland to the south east in about 1987 - we sold our 3 bed house there for £28.5k and bought a smaller 3 bed for £54k - were we shocked at the price differential - you bet we were.

I can't in all honesty see prices falling to levels where people will be able to buy property in all areas of the country for the national average wage.

I suppose a part of Graham's problem is the number of incomers/retirees to the west country. It was very popular and probably still is - I know about 8 couples who have moved to Devon to retire over the last 3 or 4 years. They love it - but I suppose over the years (not so much now) they have pushed the prices up - sell in the Thames Valley and then go and pick yourself a very nice little place in Devon.