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Debate House Prices
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Houses arent that Dear!!!
Comments
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How many of you could afford to buy a house alone, without any parental help with a deposit and without any partner ever?0
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House prices are ridiclous in England...
Heres what you can get in bonnie east/central scotland near me...
Basic detached chunk of house with land for only 430K.
http://espc.com/Buying/279002.html
975K... er... a freakin palace!!!!
http://www.rightmove.co.uk/property-for-sale/property-20371966.html?pageNumber=1&fromSummary=true&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FsearchType%3DSALE%26locationIdentifier%3DREGION%255E61347%26insId%3D2%26radius%3D0.0%26displayPropertyType%3D%26minBedrooms%3D%26maxBedrooms%3D%26minPrice%3D%26maxPrice%3D%26retirement%3D%26partBuyPartRent%3D%26maxDaysSinceAdded%3D%26_includeSSTC%3Don%26x%3D70%26y%3D9%26sortByPriceDescending%3D%26primaryDisplayPropertyType%3D%26secondaryDisplayPropertyType%3D%26oldDisplayPropertyType%3D%26oldPrimaryDisplayPropertyType%3D%26oldSecondaryDisplayPropertyType%3D%26newHome%3D%26auction%3Dfalse0 -
PasturesNew wrote: »How many of you could afford to buy a house alone, without any parental help with a deposit and without any partner ever?
How many people need to do that though? Most people tend to live with someone and it's fairly common for parents to help out nowadays with a deposit.0 -
hpi-what a farce0
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Although at present out mortgage is only 2x our combined income which is probably quite low for new homeowners.
You've answered your own question.Is it not possible that houses prices rose to the levels they did as there generally became a greater desire to own a nicer home?
Whatever house prices are there is always going to be a dream house for everyone.
What changed was the ability to borrow large sums of money without income verification, no repayment vehicle and on a interest only basis.
Now there is a generation of people who will spend a high proportion of their income servicing and repaying debt. The economic situation means that there isn't likely to be rapid growth in incomes for for the foreseeable future and potentially interest rates could rise to painful levels for many. ( though still affordable). Resulting in a change of lifestyle and possibly a reappraisal of the important matters in life. Rather than house prices which is a British obsession.0 -
How many people need to do that though? Most people tend to live with someone and it's fairly common for parents to help out nowadays with a deposit.
The house boom shifted wealth. There is a generation of individuals that benefited from the boom, and can now help their offspring. For every loser there is a winner.0 -
Thrugelmir wrote: »The house boom shifted wealth. There is a generation of individuals that benefited from the boom, and can now help their offspring. For every loser there is a winner.
Indeedy. I imagine the attitute of a lot of parents would be that their kids will get their inheritence when they die anyway but with a load of tax on it. Why not give it to them when they need it and whilst it's tax free?0 -
PasturesNew wrote: »How many of you could afford to buy a house alone, without any parental help with a deposit and without any partner ever?
You would then only need / want a smaller house.
Unless you were committed to living alone for a good few years, it would be more sensible to rent.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Isnt it 6 and half a dozen whether or not house prices drop and we end up all just buying slightly newer cars, going on slightly more holidays and buying more 'taste the difference' products!!
I wish that would happen because those luxuries are of low importance in my life.
I agree with what your saying though, prices were/are driven up by those who give little thought to the financial implications of what they are getting themselves into.
When I was looking at flats last year I frequently walked away from properties as my whole body was screaming at me to offer no more than £71,000 on a 1 bed ground floor hovel.
I couldnt comprehend the prices some places were fetching back then.0
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