house prices

talksalot81

arkonite_babe wrote:

If that's the situation you are in, spare a thought for the rest of us who slog our guts out for £12k a year. :mad:

I only just have a toe in the housing ladder and that wouldn't even have been possible if it weren't for the co-ownership scheme.

If I had your deposit and wages, I'd be sitting pretty right now! Rant over

I have slogged out my guts for 6 years in full time education, I need the money to catch up! At the end of the day, it still isnt getting me anywhere and wouldnt be getting anyone else any further!

genie_2

talksalot81 wrote:

I have slogged out my guts for 6 years in full time education, I need the money to catch up! At the end of the day, it still isnt getting me anywhere and wouldnt be getting anyone else any further!

The minimum wage is approx £11960 per year, you say you have been in full time education? I assume further education? ( Which realistically, is at best 6 months per year) so during that 6 years the person on minimum wage has earned approx £71760. You will earn this in approx 20 months. I do not begrudge you your education, which as a tax payer I help fund, nor your future income, but please have the common courtesy to remember that there are those of us out here that perhaps through choice, personal circumstance, necessity or whatever did not make it on to further education. Please don't whinge about property prices to those of us who are unable to even think about getting on to the property ladder. You have the resources the opportunity and the education to make your own way without whinging to those with less about how hard you find your financial circumstances.

arkonite_babe

talksalot81 wrote:

I have slogged out my guts for 6 years in full time education, I need the money to catch up! At the end of the day, it still isnt getting me anywhere and wouldnt be getting anyone else any further!

Perhaps we should agree to disagree on this point.

williams55

interesting thread this one . Ive being on the property ladder for around 9 years now and am currently in rented awaiting moving into new build around Jan 07 . What i find today is the distrubing new trend we are starting to see with NEW build homes . Bidding on a new home has started about 6 mths ago in northern ireland , bye bye are the days when someone who was willing to put in the effort and camp out for a new home at a fixed price . I myself camped out for a week in 1999 and although it was cold on a deck chair at least i knew and was able to budget for a new home . I think its sad that today people with the dosh can just come along and buy a new home from the comfort of their cordless phone , whlist the people who who are willing to put the effort in and get the wooly jumpers on are in fact left out in the cold . God help anyone starting off today , my mate is selling his home in dunmurry at the min and its a 2 bed old house and all the callers are 1st time buyers . The house is currently sitting at £186k , Gezz man this is crazy mortage for a 1st time buyer . Surely if we get a local goverment in place then they can take steps to release more green fields and make sure that only 1st timers can buy in . Its is mad at the min in northern ireland and lets hope that the next few years brings a bit of hope for 1st timers , cause i honest think that my kids will be living with me for life going on todays crazy market....................

talksalot81

genie wrote:

The minimum wage is approx £11960 per year, you say you have been in full time education? I assume further education? ( Which realistically, is at best 6 months per year) so during that 6 years the person on minimum wage has earned approx £71760. You will earn this in approx 20 months. I do not begrudge you your education, which as a tax payer I help fund, nor your future income, but please have the common courtesy to remember that there are those of us out here that perhaps through choice, personal circumstance, necessity or whatever did not make it on to further education. Please don't whinge about property prices to those of us who are unable to even think about getting on to the property ladder. You have the resources the opportunity and the education to make your own way without whinging to those with less about how hard you find your financial circumstances.

You may be forgiven on the basis that you clearly have no concept of the work involved in my studies. Some people really do work at their education and (believe it or not) that can entail working hours significantly greater than those followed by a minimum wage worker. Not many people make it to the top on brains alone, the failure of the majority to work is the main reason why so few ever get there. So please have the common courtesy to not assume about a way of life whose sacrifices you do not understand.

In any case, that distracts from the point of what I said. Quite why anyone would have interpreted my comments as my having some sort of superiority 'thing' going on, I do not know.

The point was that I am in a strong position as far as current finances and future earnings, yet inspite of that, I am only able to afford really bog standard housing in unattractive areas. The logical extrapolation I hoped that readers would make was that if that is the case now, where do they think it will be for someone in 3 years time with the current growth maintained. By that stage, such an individual wont be able to afford anything at all and anyone lower down in finances will only have dreams of owning. That basically results in there being no 'unsupported' FTBs... to anyone believing the growth will continue for any length of time that then poses the question of who will be holding up the lower end of the market?

If you conclude that no one will be holding it up, then you must accept that the current growth must experience a negative acceleration (hence prices must stabilise or decrease). You must also then accept that the faster the growth occurs, the sooner and more severe the consequences will be.

Alternatively, provide me a group who will provide the foundations for the system....

Colin_Kee

Ref Geeentea's comment "if its not your Principle Private Residence you have to pay Capital Gains." correct me if I'm wrong but as long as you re-invest the money and can show it's re-invested you don't have to pay Capitol Gains tax?. Hence the reason why these investors keep on investing and driving up prices as they have to get rid of the money to avoid the tax.

NAR

cathy2702 wrote:

Nar heres my vote!!! lol Although can you fix it so I can own 1 property, I dont want to be greedy hehe
Cath

Cath, if it was within my power I would. Everyone deserves to have the chance to own one property IMHO. :beer:

Greentea

Colin_Kee wrote:

Ref Geeentea's comment "if its not your Principle Private Residence you have to pay Capital Gains." correct me if I'm wrong but as long as you re-invest the money and can show it's re-invested you don't have to pay Capitol Gains tax?. Hence the reason why these investors keep on investing and driving up prices as they have to get rid of the money to avoid the tax.

You are wrong, there is no relief if the profits are reinvested. Each person has a amount of relief per year before they pay CG of about £8,800. Investors are making plenty even with having to pay some capital gains.

ballyblack

Your quite right CGT is due.

I think the poster you responded to was getting mixed up with probably a investment company who have a portfolio of properies .... the tax regime is different?