utterly disillusioned

gallygirl

You're probably right - I didn't mean to suggest that everone was like that - but if you compare like with like mid 60's to mid 40's I think teh younger generation (ha, nice to call myself that!!!!!) generally speaking come off worse.

PoorDave

realwildone wrote:

I find comments like this insulting. Do you share your house, toilet, kitchen with a complete stranger. A better suggestion would be to stop people having two or more houses and then this young man could afford one.

Can you imagine the serious financial situation anyone would be in buying a house with a stranger when the relationship breaks down for what could be a variety of trivial matters.

No. This idea belongs in the bin and was only invented by desperate banks and b/s to keep this crazy house buying frenzy going.

I wish you all the luck in the world finding a home. But whatever you do don't get drawn into something stupid like this scheme. A sensible bit of advise would be to wait. Think about in, can this situation continue. NO of cause it can't. But people right now will think it can. A few years later they will wonder why they never saw it coming.

Nobody said it has to be a stranger!

Presumably the OP has friends in the same position...

I think that was what was being suggested. Calm down a bit.

PoorDave

movieman wrote:

And there you are: you've only owned houses while their prices were exploding over the last few years, and extrapolating that to the future. Those who were left in negative equity for a decade by the last crash probably don't have such 'rose-tinted glasses' about property.

How does this excellent post help the OP buy a house?

[Deleted User]

It's a pretty simple, if unfortunate, situation.

You do not earn enough money to buy houses in your area. Welcome to the party, there's plenty of people in the same situation as you. As far as I can see it, you have the following options:

1. Find a way of earning enough money so you can buy in your area
2. Move to an area you can afford to buy in
3. Find someone else to buy a property with.
4. Rent until the property market corrects itself against average house prices
5. Find property scheme that will allow you to part-purchase a home

My opinion; the property market is not geared towards single people - my vote is for sharing a property with someone

libitina_2

Yet 35 - 40 years ago houses were bought on a single mortgage and fairly often that wage also had to support a growing family too.
Even with both partners working full time, very many people find it nearly impossible to buy their own hose today. Yay for Gordons no more boom and bust economy I say

[Deleted User]

Then blame women's lib and equality. Do you think 35-40 years ago a woman could have bought a home on her own and supported a family?

georgy9

thanks for your replies, its obviosuly a very provocatiev subject (as it should be!).
someone posted this link: http://www.kazap.co.uk/page.php?2
its this sort of smugness that i cant stand. am i understanding it correct when i say he bought 5 years ago? hes a joke.
ringo_24601 proposed 5 options:
1. Find a way of earning enough money so you can buy in your area
-- very easy to say, quite another to actually do. ill never find a way to get rich overnight, it would take years of hard work to earn much more (education/training/working up the ladder etc...). i work long hours and very hard - but yes, i will ty and find a way to earn more.
2. Move to an area you can afford to buy in
-- a poster suggested an area in plymouth where squalid flats are £70k. theres a good reason why they are cheap (what a joke). plymouth is known - and with good reason - as 'stab city'. i dont mean anyone from plymouth any offence (apart form those who deserve it), but the area these flats are located in are dire. thats not me being picky, this is me not wanting to take out a 30 year lone on an absolute !!!!!! hole. noone in their right mind would do it. again, this is not me being picky, but i dont want to be in a place and feel constantly under threat.
3. Find someone else to buy a property with.
-- i dont know anyone who wants to do this (ive asked). and so that leaves buying with a stranger. i dont want to take the risk (i think understandably) of taking on a massive debt with someone i dont know. whos going to be left to pick up the pieces shoudl they leave or we fall out or they want to sell or whatever.
4. Rent until the property market corrects itself against average house prices
-- this i can do!
5. Find property scheme that will allow you to part-purchase a home
-- ive tried. my friend actually works for a housing association. she said i would be waiting many months/years.

so i actually think that leaves me with the one option - stay put for a few years and see what the market does.
i really want there to be a big crash to rub the smiles off the smug 'im alright jack - my house has gone up £80k in the past 3 years' brigade. but then i dont want there to be a crash because that woudl effect all the people who are only just covering their mortgage.
anyways....

PropertyGuru

georgy9 wrote:

its this sort of smugness that i cant stand. am i understanding it correct when i say he bought 5 years ago? hes a joke.
.

he does seem rather provocative, doesn't he.

For the record, the reason housing tends to be regarded as such a 'wonderful investment' is that it is highly leveraged. I'm of a mind to dispell this myth over on http://www.housepricecrash.co.uk if anyone wants to argue. Or we could duplicate it here if you prefer.

libitina_2

How about on http://forum.globalhousepricecrash.com/index.php? CIUW?

PoorDave

PropertyGuru wrote:

he does seem rather provocative, doesn't he.

For the record, the reason housing tends to be regarded as such a 'wonderful investment' is that it is highly leveraged. I'm of a mind to dispell this myth over on http://www.housepricecrash.co.uk if anyone wants to argue. Or we could duplicate it here if you prefer.

My two favourite parts of that "wonderful" site are the Phil and Kirsty flash movie, which everyone should go and look at, as it's funny no matter where you stand on this issue, and the "classic" post (they preserved it as such...) on "when did you predict a crash?" I believe there's at least one person who's been predicting the long awaiting crash since 1929...

Unfortunately i think we got a little sidetracked from helping the OP figure out the answer to his question, as always, and just ended up having the same argument/discussion/slanging match that we always do!