Britain Can't Afford Falling House Prices

System

So what changed? 5 months ago you were priced out and now you can afford a 3 bed with garage. Lottery win?

dktreesea

Percy1983 wrote: »

I may have to add this to my signature as I say it more than enough.

I CAN AFFORD A HOUSE! I am saving a deposit.

Also I will repeat that the 60k and less houses are not for me usually they are 2 bed terraces (not big enough as we want to start a family) and the areas many are in are not areas I would wish my enemys to live in. + we want parking for 2 cars.

EG if I had my deposit right now I would be looking at this:
http://www.rightmove.co.uk/property-for-sale/property-30866357.html

Now yes its will take me longer to get that than a 40k terrace in a bad area, and if I could have afforded one 5-6 years ago I would be in one now. But with both me and my other had we have had poor wages while training followed by below average, then average and then above average. So its only more recently we have had any power to buy anything, but due to the sacrifices we made earlier we are both on good money and as mentioned the banks are willing to give us £145k on a mortgage when we last asked, which buys a lot in Oldham.

The whole we have it easier we have iphones thing gets me so for the record,I don't own an iphone (or any other 'smart' phone) my phone is over 5 years old I think.

I don't want to say to my children one day, sorry you will never be able to afford a house, but you have it easier because 80" 3DTV's are only £200.

Well, I think that the house you have listed looks pretty good for £102K. Also, prices are not as expensive as they look, if you take into account the pound's depreciation in recent years. Put it this way, you wouldn't get an equivalent house that close to a major city in Australia for AUD$200K. Nor New Zealand. And for two people earning, even if only on the minimum wage, that still would only work out to 4 to 5 times earnings. When my Dad bought his house in 1957 (West London, three bed semi detached) he was on £700 a year (seriously good wages in those days) and the house cost him over £5,000.

Alikay

Percy1983 wrote: »

Also I will repeat that the 60k and less houses are not for me usually they are 2 bed terraces (not big enough as we want to start a family) and the areas many are in are not areas I would wish my enemys to live in. + we want parking for 2 cars.

DH and I are in our late 40's and started out with a 2 bed terrace in a grim area of town. Didn't need parking for 2 cars because we didn't HAVE 2 cars. I got rid of mine to raise the cash for the house and we muddled by sharing, cadging lifts and going in early/finishing work late to solve the travel-to-work dilemmas. Why can't you have a family in that size house? Kiddies tend to come along gradually and most are only about 20 inches long at birth and don't need a lot of room until they're teenagers.

Percy1983

Alikay wrote: »

DH and I are in our late 40's and started out with a 2 bed terrace in a grim area of town. Didn't need parking for 2 cars because we didn't HAVE 2 cars. I got rid of mine to raise the cash for the house and we muddled by sharing, cadging lifts and going in early/finishing work late to solve the travel-to-work dilemmas. Why can't you have a family in that size house? Kiddies tend to come along gradually and most are only about 20 inches long at birth and don't need a lot of room until they're teenagers.

We have considered selling one car but have decided we can afford the 2 (neither are expensive to run or maintain), yes we don't need that much room straight away, but why buy somewhere knowing we will need to move when we can afford not to?

I am pretty sure I wasn't priced out 5 months ago, just 5 months further away from buying.

Dare I say I found a 4 bedroom with a swimming pool I can afford, thats actually Manchester not Oldham, I do suspect it may be a drug dealers house.

Anyway looking at the wider picture, yes Oldham is below average in house prices, what about the rest of the country?

DervProf

chucky wrote: »

thanks for the additions and creative posting but it's just more sound bites and rollox from you.

if you worry so much about the oil price, there's a simple solution, STOP USING IT.

that way it will be cheaper and there will be more available for the next generation.

as for your £19k comment, that's a very poor argument - even for you.

So, you survived your recent mauling by the fox. :T

DervProf

chucky wrote: »

as for your £19k comment, that's a very poor argument - even for you.

Not really. I wasn't exactly arguing, just replying to your suggestion that people who can't afford to buy a property have screwed themselves financially.

Are you OK chucky ? Your posts seem to be somewhat aggressive these days. Maybe you over induldged over Christmas. Perhaps you should join a gym or just go for a nice long walk.

StevieJ

DervProf wrote: »

So, you survived your recent mauling by the fox. :T

Even the chickens in the hen house take the P out of Foxy

StevieJ

Thrugelmir wrote: »

At a rate of £8 per hour. Thats still over 3.5 times annual earnings.

Are you being serious

Percy1983

£8 hour is nicely above the minimum wage and a guess there is a lot of people working for that kind of money.

pwllbwdr

Percy1983 wrote: »

Also I will repeat that the 60k and less houses are not for me usually they are 2 bed terraces (not big enough as we want to start a family) and the areas many are in are not areas I would wish my enemys to live in. + we want parking for 2 cars.

This. This is very much the point. Many of the boomers who are so heavily despised on here (no, I'm not one either) started on the housing "ladder" in exactly the sort of places you don't consider adequate. They then worked their way up. If you're able to miss out a rung or two, you're lucky.

Percy1983 wrote:

We have considered selling one car but have decided we can afford the 2 (neither are expensive to run or maintain), yes we don't need that much room straight away, but why buy somewhere knowing we will need to move when we can afford not to?

Is this a wind-up? There is no such things as a cheap car to run - insurance and fuel for instance.

This would appear to be at least part of the problem. The current generation expect to be able to buy a nice big house, not a terrace, parking for two cars, and to be able to run those two cars, not to mention the i-whatnots and plasma TVs. Expectations are so much higher than used to be the case