People should buy a house to live in

chucky

themanbearpig wrote: »

Its funny how you say the younger generation have to "earn it", by paying extortionate property prices and university fees, as if you have been through the same hardship.

i'm sure you'll be telling us next that mortgage rates between 12% and 16% were affordable to all and that everyone could qualify to get a mortgage back in the "good old days"....

Lady_Hamilton

I blame the government and the financial system for alot of this mess.

We now have young people who:

can not afford a house
can not get a job
have no motivation to do anything as they realise that society has nothing to offer them!

This has all been cause by GREED, GREED produces POVERTY. Btl landlords, investors buying property (because they now don't trust the gov't and financial institiutions to look after their pensions) etc etc.
The gov't should have put interest rates higher at 2005, they knew the party wouldnt go on for ever, and now we have the worst recession and collapsing economy in history.
These young people are our future and they feel they don't have one and it is all due to corruption and greed by the older genersation who look down at them like they are scum when they see them walking the streets with knives!!!!

Society has created this problem with its 'need to have more' materialism rubbish and now it will suffer from an alienated youth!

wolvoman

leveller2911 wrote: »

Well GG how is this for radical thought............THE TENANTS WOULD BUY THE HOUSE THEY LIVED IN........NO NEED FOR A LANDLORD THEN...

not rocket science

If houses weren't 50% over priced MOST people could afford to have one, yes ONE each ...

If house prices reached the level you suggest, I'd be able to afford to have 2. And so would many others.

Then there'd be even more landlords than there were before!!!

mbga9pgf

chucky wrote: »

i'm sure you'll be telling us next that mortgage rates between 12% and 16% were affordable to all and that everyone could qualify to get a mortgage back in the "good old days"....

What, in the good old days where annual wage inflation was above 10%, thereby massively offsetting the cost of the interest charged on the mortgage?

Who cares if everyone could qualify? Back in the good old days, earnings in the top 5% of the country would have got me something more than a 2 bed semi in the area I live in. Especially with the 2X annual salary I have saved up in Deposit.

Sometimes people talk complete rubbish on here, they really do.

chucky

mbga9pgf wrote: »

Sometimes people talk complete rubbish on here, they really do.

we know you do - please don't confirm it for us...

mbga9pgf wrote: »

Who cares if everyone could qualify? Back in the good old days, earnings in the top 5% of the country would have got me something more than a 2 bed semi in the area I live in. Especially with the 2X annual salary I have saved up in Deposit.

you've just contradicted yourself and proved that not all people will afford to buy a house, only those that earn enough can buy property... it was same then and it's the same now...

go and do some calculations on average salary vs average salary in 1990 compared to now or even 2007 you will be very surprised when houses have been the most affordable to more people... IT'S NOW!!!

mbga9pgf

Wrong.

http://www.nationwide.co.uk/hpi/historical.htm

Check out First time buyer affordability. Despite falls in house prices, massive cuts in interest rates, all the spin, prices are STILL more unnafordable to the First time buyer than they were AT THE PEAK of the last crash.

http://www.housepricecrash.co.uk/graphs-ftb-average-house-price-to-earnings-ratio.php


Before spouting about statistics, how about actually get some numbers together before you go and embarrass yourself hey?

chucky

mbga9pgf wrote: »

Wrong.

http://www.nationwide.co.uk/hpi/historical.htm

Check out First time buyer affordability. Despite falls in house prices, massive cuts in interest rates, all the spin, prices are STILL more unnafordable to the First time buyer than they were AT THE PEAK of the last crash.

http://www.housepricecrash.co.uk/graphs-ftb-average-house-price-to-earnings-ratio.php


Before spouting about statistics, how about actually get some numbers together before you go and embarrass yourself hey?

ahh so you've 'selectively' chose a first time buyer to buying an average house... good realistic choice!!!

mbga9pgf wrote: »

Before spouting about statistics, how about actually get some numbers together before you go and embarrass yourself hey?

i refer you to the above selectively choosing a ftb trying to buy an average house... not a good choice...

average means an average person in an average job probably about average in their life cycle - probably some one around 40...

why didn't you compare someone like that and their affordability to buy an average house not a FTB...

mbga9pgf

Where are your stats then chucky? Or are you spouting Bull Sh*t as usual? Wheer are your stats chucky? Go on then, I have provided you with some, I challenge you to do the same!

ahh so you've 'selectively' chose a first time buyer to buying an average house... good realistic choice!!!

So you are saying, not to use data that proves your argument is in fact, complete and utter B*llocks? Or do you choose to ignore the first rung of the ladder as unimportant?

Its also interesting to compare median salaries as computed by the nationwide are about as devoid of reality as they have ever been.

IveSeenTheLight

mbga9pgf wrote: »

Wrong.

http://www.nationwide.co.uk/hpi/historical.htm

Check out First time buyer affordability. Despite falls in house prices, massive cuts in interest rates, all the spin, prices are STILL more unnafordable to the First time buyer than they were AT THE PEAK of the last crash.

Before spouting about statistics, how about actually get some numbers together before you go and embarrass yourself hey?

Not quite true.
At the peak the UK FTB average was 147.7 (Q2 89) while the latest figures (q4 08) is at 105.7.

so while it seems according to this indice that they are still unaffordable, they are not currently worse than at the peak of the last crash

wolvoman

mbga9pgf wrote: »

Despite falls in house prices, massive cuts in interest rates, all the spin, prices are STILL more unnafordable to the First time buyer than they were AT THE PEAK of the last crash.

Peak of a crash?

Is that a trough of a boom?