House Prices, Interest Rates and Affordability

HAMISH_MCTAVISH

silvercar wrote: »

Then either you are trying to buy in a really expensive area or you are not taking as much mortgage as you could afford.

So true.

Some people seem to think they should be able to buy a mansion in the best areas for 2.5 times average wage.

Doesn't work like that, never has done.

sss555s

mbga9pgf wrote: »

You mean the fact that despite record low interest rates, and nationwides screwed definition of a First time buyer, salary multiples for First time buyers on the nationwide index are still higher than they were during the 1991 peak?

And how can you compare your salary multiple TODAY with the one you had back in the 1990s? Or doesnt all that extra experience at work count for anything?

What we are trying to say is it's not that different and like us, you just have to make the best of a bad situation.

Houses have always fluctuated on salary ratios and always will.

If you are so upset you can't at this time afford in your desired area then perhaps you could consider living in a cheaper area and commuting a bit more.

It's up to you to find a solution that will work best for you. Nobody said it was easy and i doubt blaming the generation above you will help.

We've all been there.

silvercar

mbga9pgf wrote: »

How about pensions provision you havent fully paid for? How about the massive PFI bill you have left my generation I am expected to pay for your overexpensive cancer drugs?

We need a model like new zealand. All healthcare treatments available to 70. Past 70, no transplants and no expensive drugs. !!!!!ing because your state pension doesnt rise with inflation, expecting me to pay for it, whilst living in a house that has appreciated in value by 300% over the past 10 years doesnt wash I am afraid.

I have a decent pension provision and private health insurance. I don't see how you can blame individuals for drug availability on the NHS (available to you as well as me BTW).

I'll ask you again, what would you expect me to have done over the years other than buy and live in a house that I can afford?

I'm 46 BTW so I'm paying taxes into the NHS as much as you are and am well away from the age of 70 that you seem to have problems with.

mbga9pgf

silvercar wrote: »

So saving up for my first flat showed I had no thought for later generations???

So moving to a bigger home (again by saving) to house a family showed I had no thought for later generations?????

What would you want me to do? Not save, spend on credit cards?????

sss555s wrote: »

What we are trying to say is it's not that different and like us, you just have to make the best of a bad situation.

Houses have always fluctuated on salary ratios and always will.

If you are so upset you can't at this time afford in your desired area then perhaps you could consider living in a cheaper area and commuting a bit more.

It's up to you to find a solution that will work best for you. Nobody said it was easy and i doubt blaming the generation above you will help.

We've all been there.

So, in other words, you cant name a time that you were as priced out as this generation, nor as long, and your solution is for the current generation to lower their standards of living to pay for the greed of the previous generation? Start to get my point? My taxes being used to prop up the housing market and bail out you old f*cks took the biscuit.

mbga9pgf

silvercar wrote: »

I have a decent pension provision and private health insurance. I don't see how you can blame individuals for drug availability on the NHS (available to you as well as me BTW).

I'll ask you again, what would you expect me to have done over the years other than buy and live in a house that I can afford?

I'm 46 BTW so I'm paying taxes into the NHS as much as you are and am well away from the age of 70 that you seem to have problems with.

Because the over 70s account for the vast majority of the NHS tab. They cost an unfair share of the bill. An unfair share THEY didnt pay for in taxes through their working lives and despite not oinly pricing me and my family out of the home I could have been expected to buy only 10 years ago, when I was too young to buy, you also expect me to pick up the tab of the NHS through uncosted PFIs?

Thanks a bunch.

HAMISH_MCTAVISH

mbga9pgf wrote: »

Because the over 70s account for the vast majority of the NHS tab. They cost an unfair share of the bill. An unfair share THEY didnt pay for in taxes through their working lives and despite not oinly pricing me and my family out of the home I could have been expected to buy only 10 years ago, when I was too young to buy, you also expect me to pick up the tab of the NHS through uncosted PFIs?
.

Nice rant.

Pure fiction of course, but a good rant anyway.

silvercar

mbga9pgf wrote: »

Because the over 70s account for the vast majority of the NHS tab. They cost an unfair share of the bill. An unfair share THEY didnt pay for in taxes through their working lives and despite not oinly pricing me and my family out of the home I could have been expected to buy only 10 years ago, when I was too young to buy, you also expect me to pick up the tab of the NHS through uncosted PFIs?

Thanks a bunch.

We all pay tax, not just you. I've paid tax throughout my working life (longer than yours by the sound of it, how old are you?)

When we first bought our mortgage was 2.5 x joint salary and 15% deposit (which was roughly my salary). The same or similar flats are on the market now at similar multiples of salary (as in the salary of someone with the qualifications and experience I had then) and deposit. So they may have been a time when they would not have been affordable (around 2007) but you could buy them now.

You may have delayed buying until you are at the point in your life when you need/ want a 3 bed semi rather than a flat, but that is your decision.

sss555s

mbga9pgf wrote: »

Do you live somewhere grim like Hull?

Sadly i've never been to Hull so i don't really know what it's like. I have heard there are some reasonable house prices in the area though and perhaps you could look there?

So, in other words, you cant name a time that you were as priced out as this generation, nor as long, and your solution is for the current generation to lower their standards of living to pay for the greed of the previous generation? Start to get my point? My taxes being used to prop up the housing market and bail out you old f*cks took the biscuit.

I'm sure i've paid more in tax than you in the last year so where do you think mine is going? I contributed to there being a facility to help with your birth.:D But it's all about you, isn't it

What you have to realise is tax isn't a "donation". It's not your money. You pay that to have the privilege to live in the UK where standards are governed to be reasonable and fair.

And i can't be a***d looking for data to prove anything as i'm not that interested in your gripe.

HAMISH_MCTAVISH

silvercar wrote: »

You may have delayed buying until you are at the point in your life when you need/ want a 3 bed semi rather than a flat, but that is your decision.

Which is why he can''t afford what he wants now.

Lot's of these 30 something whiners around these days, who delayed purchase, and now need a crash to compensate for their mistakes.

No sympathy.

mbga9pgf

silvercar wrote: »

We all pay tax, not just you. I've paid tax throughout my working life (longer than yours by the sound of it, how old are you?)

You may have paid, but you didnt pay enough to cover the current devisive levels of hidden debt your generation has got my generation into. 800 billion in unfunded PFIs to cover over the next 2 decades for a start. If you paid enough into the pension pot (you didnt by the way) why do we now have such a large pensions black hole and why does the national state pension cost over 50% of the entire department of work and pensions budget? Why did your ilk get to retire at 55 and mine will retire at something more like 80?

silvercar wrote: »

When we first bought our mortgage was 2.5 x joint salary and 15% deposit (which was roughly my salary). The same or similar flats are on the market now at similar multiples of salary (as in the salary of someone with the qualifications and experience I had then) and deposit. So they may have been a time when they would not have been affordable (around 2007) but you could buy them now.

You may have delayed buying until you are at the point in your life when you need/ want a 3 bed semi rather than a flat, but that is your decision.

Why is the average age of first time buyers now 37? Why are first time buyers as a fraction of the market, accounting for only 100,000 transactions a year, the lowest they have EVER been?

Your figures are wrong by the way. Go to http://www.nationwide.co.uk/hpi/historical.htm, download the first time buyers house prices to earnings ratios and see what your generation has done.... I earn comparably more that what my parents did at my age, I have saved for longer, put far more off than they ever did, yet still cant afford HALF the house they bought as a first home.

You are blinded by your greed and smugness.