Priced out generation fights back

Graham_Devon

misskool wrote: »

I don't understand how the press officer earns 40k a year but can barely save 10k over years?

Probably because every single person has different outgoings. Outgoings which can't easily be changed.

Let's take that 40k, take off tax.

Next wage £29,500

Let's add on:
Rent at £800 a month = £9600
Car / fuel / servicing etc @ £300 a month = £3,600
Council tax @ £130 per month over 10 months = £1,300
Food @ £150 a month = £1,800
Phone / Electric / Gas / Insurances @ £120 a month = £1,440

So out of £29,500 he now has £11,760 left.

How much stuff have I missed out of living costs above? Add a CSA payment to the mix (think of the children). On 40k that would take around £300 a month = £3,600 a year gone.

No point ignoring this, the amount of people with kids, not still togther is huge.

Now can you understand? You can't just "choose" what to pay for and what not too if you have even a handful of commitments.

damanpunk

Yes, FTB's should be entitled to half price houses and 100% mortgages at 0.5% interest rate :beer:

Or they could do what I did........ Stop moaning and do something about it, re-train, get a better job, save some money then buy somewhere.

I'm not in favour of high house prices, infact I'd even like a little drop so it'd make it easier for my next step up the ladder but sitting moaning on the internet isn't going to bring prices down or change your circumstances.

misskool

carolt wrote: »

Is it a 'mania'? Or is it related to the need for security, misskool?

Why did you choose to buy? Was it due to some 'manic' obsession with buying for its own sake, or due to the desire for a secure home?

This thread and the article make it very clear that the changes in tenancy laws in this country relatively recently have tilted the balance such that renting is not really a suitable long-term option, as it used to be - homes are not secure and rents can be raised at a whim.

I'd agree with your post more if you'd practiced what you preached; if renting wasn't for you, why assume it should be for everyone else?

I can't tell you why I bought, life is too complicated to be sharing it on an internet bulletin forum with someone who is frothing in anticipation at my hypocrisy.

My point is that people turn it into more than what it is. If life was a computer game, owning a house can now be classed as completing a level so you can move up to the next stage. It isn't really. You don't need to own your house to complete your life. It's a matter of adjusting your outlook in life.

Is owning your house more secure? Unless you are financially and mentally prepared, it's perhaps worse because you'll be worrying about things all the time. I don't have a problem renting and won't have a problem renting again should the need arise.

damanpunk

Graham,

Going by your figures it should be easy to save 10k over a couple of years? Even if she spends £263 a month on herself she is still left with 5k a year :cheesy:

Graham_Devon wrote: »

Probably because every single person has different outgoings. Outgoings which can't easily be changed.

Let's take that 40k, take off tax.

Next wage £29,500

Let's add on:
Rent at £800 a month = £9600
Car / fuel / servicing etc @ £300 a month = £3,600
Council tax @ £130 per month over 10 months = £1,300
Food @ £150 a month = £1,800
Phone / Electric / Gas / Insurances @ £120 a month = £1,440

So out of £29,500 he now has £11,760 left.

How much stuff have I missed out of living costs above? Add a CSA payment to the mix (think of the children). On 40k that would take around £300 a month = £3,600 a year gone.

No point ignoring this, the amount of people with kids, not still togther is huge.

Now can you understand? You can't just "choose" what to pay for and what not too if you have even a handful of commitments.

misskool

Graham_Devon wrote: »

Probably because every single person has different outgoings. Outgoings which can't easily be changed.

Let's take that 40k, take off tax.

Next wage £29,500

Let's add on:
Rent at £800 a month = £9600
Car / fuel / servicing etc @ £300 a month = £3,600
Council tax @ £130 per month over 10 months = £1,300
Food @ £150 a month = £1,800
Phone / Electric / Gas / Insurances @ £120 a month = £1,440

So out of £29,500 he now has £11,760 left.

How much stuff have I missed out of living costs above? Add a CSA payment to the mix (think of the children). On 40k that would take around £300 a month = £3,600 a year gone.

No point ignoring this, the amount of people with kids, not still togther is huge.

Now can you understand? You can't just "choose" what to pay for and what not too if you have even a handful of commitments.

Here we go

£11,760 a year - £3600 = £8100 savings a year.
Cutting down on other spends, being careful with your money, doing cashback deals, selling things on ebay. not buying clothes every season (oh how I miss not having new clothes!!!), every little bit helps.

It's all about priorities. People live on less than £40k a year and well.

I make £30k a year, commute is £4k a year. I manage because I have different spends.

I'm not going into a fatuous discussion with you.

IveSeenTheLight

Graham_Devon wrote: »

Somewhere, there will be affordable homes, to some people who can afford homes. And there always will be, no matter what the price of a house is. A group of people will ALWAYS be able to afford.

Hence the market price reflects the supply and demand ratio.

It's been said many times before, if you want house prices to become affordable to more, you need to change the current supply and demand ratio.

House price will rise when there is excess demand

Graham_Devon wrote: »

The majority however, are priced out.

Can you quantify this?
At the same time, please explain the current expected lifestyle of those current "would be but priced out buyers" with those historical house buyers

Pobby

Some times I shudder to think what would have happened if G. Brown had allowed the housing market to get out of control.:eek:

andykn

misskool wrote: »

I don't understand how the press officer earns 40k a year but can barely save 10k over years?

I saved more than that on less. I just learnt what my priorities were and saved. It's all about choosing what you want. Socialist theory is wonderful, but home ownership has never been for the masses. It's only in recent years that people have this mania about ownership.

It's because she chooses to rent a flat of her own rather than sharing like nearly all my contempories used to in their 20s.

Graham_Devon

misskool wrote: »

Here we go

£11,760 a year - £3600 = £8100 savings a year.
Cutting down on other spends, being careful with your money, doing cashback deals, selling things on ebay. not buying clothes every season (oh how I miss not having new clothes!!!), every little bit helps.

It's all about priorities. People live on less than £40k a year and well.

I make £30k a year, commute is £4k a year. I manage because I have different spends.

I'm not going into a fatuous discussion with you.

As I stated, my figures miss out quite a few items. I just couldn't be bothered listing them all.

I'd need to look through someones SOA to get a quick outline of outgoings, which I can't be bothered to do. So it doesn't leave £8,100 savings a year.

But yer, let's just leave it as that, as your complete arrogance firstly to carol and them to myself is starting to annoy. You believe what you want to believe, I'll do the same.

carolt

misskool wrote: »

I can't tell you why I bought, life is too complicated to be sharing it on an internet bulletin forum with someone who is frothing in anticipation at my hypocrisy.

My point is that people turn it into more than what it is. If life was a computer game, owning a house can now be classed as completing a level so you can move up to the next stage. It isn't really. You don't need to own your house to complete your life. It's a matter of adjusting your outlook in life.

Is owning your house more secure? Unless you are financially and mentally prepared, it's perhaps worse because you'll be worrying about things all the time. I don't have a problem renting and won't have a problem renting again should the need arise.

Who is 'frothing at the mouth'?

You appeared rather frothy in your original post about this wastrel of a woman who 'only' managed to save 10K.

Unlike your good, hard-working self, who of course we should all strive to emulate.

I agree that buying is not the be-all and end-all, and we all have to get on with life whatever our situation in housing terms; I do, however, think that buying a home AFFORDABLY does - ultimately at least - give you more security. Which is why people wish to do that, rather than rent.

Obviously, buying somewhere you can't afford does not give you any more security.

Hence the OP, and the reason why many people feel 'priced out'.