Steady increase in June house prices

carolt

Since when does MSE post spin as fact?

It's not a 'steady rise' - we need hindsight to tell us if it is or not, and I strongly suspect it will turn out to be nothing of the sort.

Could MSE stick to reporting facts please rather than hypotheses? It rather ruins its image as unbiased.

carolt

Yeurgh - haven't popped in for a week or 2 - what's with the horrid red heart 'I like' thing?

Graham_Devon

StevieJ wrote: »

No a return to 10% deposit at reasonable rates, as I show in the worked example I posted

Doing a quick calculation based on a couple both earning 20k, with a 10% deposit and and a interest rate of 6 %, I make that 26% of net salary not exactly onerous.

Stevie.

You need to get with the times. Ultimately, the average savings in the UK (research done for the BBC) would last "households" just 3 months.

That's at max, 4-6k.

Not the 15k you talk about for a 10% deposit, plus solicitors and buying fee's adding on another 1.5k.

And people don't tend to save say 16k, and then blow it all on one purchase leaving them with nothing.

So you could say they need 20k for that 10% deposit easily.

You are living in dream world if you think the average first time buyer has 20k just sitting there.

Most do have a few k's though, I will admit....a few k's worth of debt.

I find it absolutely hilarious that people keep spouting its affordable, you just need 10-25% deposit. We have an average of approx 5k UNSECURED debt in this country per person.Yet you seem to think people just have this surplus cash, y'know, just sitting there?

StevieJ

Graham_Devon wrote: »

Stevie.

You need to get with the times. Ultimately, the average savings in the UK (research done for the BBC) would last "households" just 3 months.

That's at max, 4-6k.

Not the 15k you talk about for a 10% deposit, plus solicitors and buying fee's adding on another 1.5k.

And people don't tend to save say 16k, and then blow it all on one purchase leaving them with nothing.

So you could say they need 20k for that 10% deposit easily.

You are living in dream world if you think the average first time buyer has 20k just sitting there.

Most do have a few k's though, I will admit....a few k's worth of debt.

I find it absolutely hilarious that people keep spouting its affordable, you just need 10-25% deposit. We have an average of approx 5k UNSECURED debt in this country per person.Yet you seem to think people just have this surplus cash, y'know, just sitting there?

10% OF 120K is 12k, if two people living at home with mummy and earning 20k each cannot save up 15k between them, then perhaps it is a good idea that they don't buy a house I don't even understand what your posts mean, half the time

Graham_Devon

StevieJ wrote: »

10% OF 120K is 12k, if two people living at home with mummy and earning 20k each cannot save up 15k between them, then perhaps it is a good idea that they don't buy a house

See, dream world. Your now back to the "two people living with their parents who decide to just buy a home together, making the biggest commitment ever without even trialing living together in rental.

You have had to use the best possible scenario to make your point. Two people, both earning 20k, childless, and also living rent free. Also, buying one of the cheapest homes at 120k, on (currently) one of the highest, hard to get, 90% LTV mortgages.

Like I say Stevie, get real.

StevieJ

carolt wrote: »

Yeurgh - haven't popped in for a week or 2 - what's with the horrid red heart 'I like' thing?

Hadn't noticed that, must have only just appeared.

System

StevieJ wrote: »

10% OF 120K is 12k, if two people living at home with mummy and earning 20k each cannot save up 15k between them, then perhaps it is a good idea that they don't buy a house I don't even understand what your posts mean, half the time

I agree, saving a deposit good practice for when you have a house to run and maintain.

What else to you suggest G-D? 100% mortgages again? What would you say is a realistic desposit to put down?

I saved my £12k in a just over a year. Easy if you make sacrifces, something that FTBers recently seem loathe to do.

Graham_Devon

Joeskeppi wrote: »

I agree, saving a deposit good practice for when you have a house to run and maintain.

What else to you suggest G-D? 100% mortgages again? What would you say is a realistic desposit to put down?

I saved my £12k in a just over a year. Easy if you make sacrifces, something that FTBers recently seem loathe to do.

I never suggested saving is not good practice.

I suggested current levels are not affordable and why. Nice spin, gotta give that to you!

StevieJ

Graham_Devon wrote: »

See, dream world. Your now back to the "two people living with their parents who decide to just buy a home together, making the biggest commitment ever without even trialing living together in rental.

You have had to use the best possible scenario to make your point. Two people, both earning 20k, childless, and also living rent free. Also, buying one of the cheapest homes at 120k, on (currently) one of the highest, hard to get, 90% LTV mortgages.

Like I say Stevie, get real.

Are you completely daft ? the 120k was a response to another posters thread who quoted the average salary(15-20k) and house price (120k). I should imagine most FTBers are living at home and childless, have you stats to disprove this?

System

Graham_Devon wrote: »

I never suggested saving is not good practice.

I suggested current levels are not affordable and why. Nice spin, gotta give that to you!

What would you say is a realistic desposit to put down?