So if the average FTB age is 37......

vaporate

mp797979 wrote: »

I don't understand your rationale behind what you say. How can prices be mug prices? If it's worth £100K then that is what it is worth. It's the same as people who 5 years ago their house was worth £20K more than now and they believe that their house is price is too low - it's just what it is.

Anyway, if the "flat" you are on about now is £100K, I don't think it will never, ever be much less than that.

It IS mug prices. Prices were much cheaper before, when exactly I can't remember.

Anyway count me out. I'd rather just save what I can and not be tied to a mortgage. Freedom of debt is where I'm coming from.

vaporate

quantic wrote: »

To be honest, most of the people that I know over 30 who have not bought yet, are not in circumstances to ever be able to buy...

At £200,000 for surposedly average price are you surprised? lol

Face it the only 'decent' quick way is parents dishing out for their son/daughter

musicmaker29

geneer wrote: »

Indeed. Your 20's aren't for saddling yourselves with mortgages.
It really is that simple.

I disagree as I think it depends on who/where you are. I'm 25 and bought my house when I was 22. At that point I had a straight choice - stay living at home, move into a rented house with my o/h for about £500 a month or buy a house where the mortgage worked out at the same. So it made sense for us to pay for our own house together (as you can't live with your folks forever!). The house has needed a bit of work, so I suppose I wouldn't have had to spend that money but its hardly a big deal.

I'm not saying that is the 'right' way to do things, just that everyone is different and for some it works out.

musicmaker29

vaporate wrote: »

At £200,000 for surposedly average price are you surprised? lol

Face it the only 'decent' quick way is parents dishing out for their son/daughter

theres no reason why you have to buy the 'average' house though, there are plenty of houses for far less than that (depending on where you live I suppose).

nembot

Think it's related to earning potential, which maxes around late 30's/early 40's on average. With ridiculously priced property currently, the average 25 year old hasn't got a hope in hell.

There's no real mystery here, just numbers and logic.

geneer

musicmaker29 wrote: »

I disagree as I think it depends on who/where you are. I'm 25 and bought my house when I was 22. At that point I had a straight choice - stay living at home, move into a rented house with my o/h for about £500 a month or buy a house where the mortgage worked out at the same. So it made sense for us to pay for our own house together (as you can't live with your folks forever!). The house has needed a bit of work, so I suppose I wouldn't have had to spend that money but its hardly a big deal.

I'm not saying that is the 'right' way to do things, just that everyone is different and for some it works out.

Which means you bought your house in 2007 right?
I hope it works out for you, but I do wonder if you would have
been so super keen to leap into the housing market if the bubblicious "buy now before you miss the boat" hysteria wasn't a factor.

ukcarper

vaporate wrote: »

At £200,000 for surposedly average price are you surprised? lol

Face it the only 'decent' quick way is parents dishing out for their son/daughter

According to latest Land Registry release the average price of a terraced house is £124,205, I would have thought a terrace house was a reasonable home for a FTB so not quite as bad as you make out.

Out,_Vile_Jelly

It's all very well if your life develops along the traditional route: enter your chosen career/meet Mr/Ms Right in your early 20s/progress steadily in your chosen career/know where you want to settle/buy starter home in chosen area/live happily ever after.

Not everyone's life works out in this comfortably simple and direct trajectory. Not everyone knows which city or indeed country they want to live in. Not everyone knows what job they want to do and thus get quickly to a high earning point. Not everyone gets to enjoy the social status and financial security of being a couple. So yes, there are plenty of people in their 30s who were never realistically in a position to buy.

tara747

Degenerate wrote: »

There's an interesting psychological phenomenom at work with many housing bears. Generally they came to the desire to buy at some stage in the late 90s or early 2000s after prices had been appreciating for a few years. Seeing how prices had risen, they resented paying so much more and regretted not acting sooner, so they determined to wait it out. The problem is that as prices continued to rise it created a sort of feedback loop where the longer they waited, the bigger their theoretical losses became, and the more they dug their heels in. This continues until they either have a watershed moment, cut their losses and buy, or go completely loopy like many of the HPC nuts.

In the late 90s and early 2000s I was a student! So I wasn't in a position to buy. I tried to buy as soon as I could, but prices were already too high. Not guilty here!

tara747

Out,_Vile_Jelly wrote: »

It's all very well if your life develops along the traditional route: enter your chosen career/meet Mr/Ms Right in your early 20s/progress steadily in your chosen career/know where you want to settle/buy starter home in chosen area/live happily ever after.

Not everyone's life works out in this comfortably simple and direct trajectory. Not everyone knows which city or indeed country they want to live in. Not everyone knows what job they want to do and thus get quickly to a high earning point. Not everyone gets to enjoy the social status and financial security of being a couple. So yes, there are plenty of people in their 30s who were never realistically in a position to buy.

Very good points.

musicmaker29 wrote: »

I disagree as I think it depends on who/where you are. I'm 25 and bought my house when I was 22. At that point I had a straight choice - stay living at home, move into a rented house with my o/h for about £500 a month or buy a house where the mortgage worked out at the same. So it made sense for us to pay for our own house together (as you can't live with your folks forever!). The house has needed a bit of work, so I suppose I wouldn't have had to spend that money but its hardly a big deal.

I'm not saying that is the 'right' way to do things, just that everyone is different and for some it works out.

IMHO, in 2007 the renting option may have been the more sensible one (if you really wanted out of your parents' house). Negative equity has affected almost everyone who bought from the mid-2000s onwards - what a sad, stifling legacy of the boom. I wish you all the best and I hope that you *really* like your house (and its location) because you may be stuck with it for longer than you intended.