utterly disillusioned

georgy9

im in my late twenties and live in the south west. i earn £16k a year which is about average where i live. i work with computers and am good at my job. i cant find a house or flat for less than £120k. ive come to the conclusion ill never be able to afford anywhere.
is anyone else bitter about living in a day and age where people like me will never be able to afford to buy a home? whatever way i look at it, im destined to live in cr*ppy rented flats which ill never be able to call 'home'.
ive been employed all my life, ive paid tax all my life. great britain my !!!!. what a joke.

[Deleted User]

Have you thought about buying a house with someone else? Have you saved for a deposit?

I had to move from Cardiff to London a year ago to get a job in IT that payed enough to get me onto the property ladder. What area of IT are you in? Could you retrain to get into a higher paying job?

Andy_L

A quick internet search & I see flats in the SW for 60k.

whambamboo

georgy9 wrote:

im in my late twenties and live in the south west. i earn £16k a year which is about average where i live. i work with computers and am good at my job. i cant find a house or flat for less than £120k. ive come to the conclusion ill never be able to afford anywhere.

What makes you think that?



What do you think will happen next?

Whatever you do DON'T buy a 25% share in a shoebox or somehting stupid like that. You'll spend the rest of your life paying it off and it will likely go down in value in the next 5 years.

All assets go down in value as well as up. The only direction for the property market is flat or down. Nobody thinks it will go up. If it's flat, higher pay will mean the cost goes down. If it's down, then you'll be able to buy then.

Just whaever you do do not fall for the 25% or buy with a bunch of people you hate trap.

I've got over £100k in the bank, work in IT, making £100k/yr+ (in London, not in the SW!) no house, and am I buying a house now?

Am I heck.

Guy_Montag

Never mind, join our little cult here:
http://forum.globalhousepricecrash.com/
or here:
http://www.pricedout.org.uk/

If you are going to move abroad, I recommend Germany, for the cost of a 3-bed semi here you can get a pretty tasty castle:
German castle

I suppose this 5 room apartment in Berlin, might suite your budget better & easier to find jobs there too I imagine.
£70k
I wonder what the equivalent in London would go for.

jamminjamaica

Guy_Montag wrote:

Never mind, join our little cult here:
http://forum.globalhousepricecrash.com/
or here:
http://www.pricedout.org.uk/

doom and gloom

Guy_Montag

jamminjamaica wrote:

doom and gloom

I'm very positive thank you very much. I am hoping that, in the not too distant future, we will have a significant property price crash & that I, like many others who have been priced out, will be able to buy a reasonable place at a reasonable price.

Remember even home owners win in a house price crash as it makes it cheaper to move up to the next step on the ladder. Everyone's a winner except people who trade down & the banks.

F_T_Buyer

Don't worry georgy9, the situation is only temporary. A lot of people are temporarily bitter, but things always go back to average. House prices will be affordable once again!

Don't let all these doomsters say you will never buy, and always be priced out.

Have some fun for 3-4 years, when everyone is telling you never to buy a house, buy a house! :rotfl:

PosterBoy77

jamminjamaica wrote:

doom and gloom

Why is it doom and gloom? It would be good for price to come down!

georgy9

thanks for your supporting comments. ill reply properly tomorrow when i get a spare minute.
thanks.

RHemmings

mikael wrote:

Why is it doom and gloom? It would be good for price to come down!

I think there's some "history" here that I'm not aware of. But I think that it wouldn't only be "good" for prices to come down, it's absolutely essential or the entire country will go down the pan.

Basically, prices have risen so that only a small minority can buy a house without stretching themselves to the absolute limit. We've already seen mortgage lenders increasing the salary multiples they are prepared to lend people. More mortgage means more interest paid out each month, means less money to spend on other things. Less money to spend on other things means fewer purchases, which means that people start losing jobs. And the whole economy goes down the toilet.