Britain Can't Afford Falling House Prices

IveSeenTheLight

Percy1983 wrote: »

Exactly my point, my dad was a security man and my mum was a part time checkout operator when they bought there current house, to buy the same house with those jobs now is impossible.

Did your grandparents buy?
Your reflecting on a period when mortgages started to become more readily available (albeit not at 2007 levels)
You could say that your parents started of the desire to be owners that have passed down the generations

Percy1983

pwllbwdr wrote: »

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.

You could say I made my own luck, I have made progress in a reasonably well paid career. You are missing the age thing with with the missing rungs, were was the average boomer upto by the age of 30 (As I am nearly there). In short I have gone with speculate to accumulate, I could have got a better paid job early on and bought a 2 bed terrace but my wages would be no were near what they are now.

pwllbwdr wrote: »

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

Ok yes we know car is cheap to run but the 2 cars in question aren't big petrol guzzlers and reasonable to tax and insure, it is a cost we are happy to take for the convenience it brings. (I will add my current car doesn't do many miles as I use public transport most of the time, it did less that 3000 miles last year).

As for expectations both me and my other half have both worked very hard so why not expect more, it is clearly within our means so why not?

But as I say luck has nothing to do with it.

pwllbwdr

Fine- you choose to run two cars and you can afford to do so. Having that cost will reduce your net earnings. If you can still afford to buy the house which you want, then there is no problem is there.

But how many of the people who complaining about being "priced out" are in fact saying that they are priced out of the the house they consider acceptable given their chosen expenditure on other things.

Luck does have a lot to do with I'm afraid. There are many talented people doing jobs where the levels of reward are relatively low. Working hard and making progress does not necessarly result in high salaries.

Percy1983

pwllbwdr wrote: »

Fine- you choose to run two cars and you can afford to do so. Having that cost will reduce your net earnings. If you can still afford to buy the house which you want, then there is no problem is there.

But how many of the people who complaining about being "priced out" are in fact saying that they are priced out of the the house they consider acceptable given their chosen expenditure on other things.

Luck does have a lot to do with I'm afraid. There are many talented people doing jobs where the levels of reward are relatively low. Working hard and making progress does not necessarly result in high salaries.

I will agree there is probably a few who say there are priced out due to unrealistic expectations. There is an element of luck, but it isn't luck alone like some make out, I would like to think all those who have put the work in will see a level of reward at some point.

But yes those who left school and have worked in mcdonalds since and then expect the houses I am looking at do need to rejig there expectations.

Going back to realistic expectations I have mentioned a wedding is on the cards once we have bought a house, as it is we a planning to spend less than £2k on getting married.

In short I am more well grounded than I may appear at times.

IveSeenTheLight

Percy1983 wrote: »

as it is we a planning to spend less than £2k on getting married.

Very good luck with that.

We had wanted a very small intimate wedding and ended up with 60 at the wedding and about 150 in the evening.

It'll be interesting to see if you manage it for less than £2k

chucky

DervProf wrote: »

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.

nice try but you're going to have to try harder lmao

Emy1501

Cant see anywhere in the article where it says country can't afford falling prices. Also the Minster is not going to be stupid enough to say he wants prices to fall even if thats really what he thinks.

What he is publicly stating though would be a good thing in my opinion but not great for those who see property as an investment.

Problem is people can't go on borrowing money they cannot afford to repay and then expect the economy to keep improving. Sooner or later we have to get back to a property is mainly for someone to live in rather than seen as a cash machine where the extra debt is simply passed on the younger generation.

Percy1983

IveSeenTheLight wrote: »

Very good luck with that.

We had wanted a very small intimate wedding and ended up with 60 at the wedding and about 150 in the evening.

It'll be interesting to see if you manage it for less than £2k

I have a very simple solution, we won't invite so many people...

The.Far.Tall.Knight

and those that don't have one cant afford rising house prices either, enter catch 22

Jim_B_3

REAL_MEN_DONT_RENT wrote: »

If you can't afford a house then you don't deserve one. Simples.

So you're in favour of banning mortgages. That's quite extreme but I can get onboard with it.