House Prices Simply Too Expensive For The Young

Conrad

Coeus wrote: »

On AVERAGE, let me repeat that again, on AVERAGE FTBs cannot buy in a macro term. If you are willing to provide links to evidence the incorrectness of this article asseting such a statement I'd be interested and willing to listen.

I got the 'average' point, but I dismissed it as a notional average is meaningless in terms of what real people CAN do right now to buy a home. A mental construct such as an 'average' is utterly meaningless.

Work hard, maybe take a second job, save 15% and buy more or less within any County in Britain - no average to concern onself with.

Note, academic Econcomists did not spot the crunch comming, whereas as amateurs on HPC, myself included did.

Stop worrying about academic stuff, and concentrate on the practical.

BOTTOM LINE - FTB can buy a home with ease.

doire_2

Must be National Ancedotal day


And another thing with all these extra hours these FTB's will need to work how can they get the time to renovate these houses?

FTBFun

doire wrote: »

Another fortune for FTB's to find then

My brother bought a repo just before Xmas - it really wasn't that nice at first but a couple of months later, with some hard graft and a little bit more money (not too much), its looking substantially better.

What is your point exactly - other than making asinine comments as usual?

Conrad

Pete111 wrote: »

But Conrad, with all this hard work you propose there will be no time left for people to play with their moons on a stick.

3 years extra hard work to save a deposit never killed anyone. Plenty of Poles I know that did / do just this, and no they are'nt whelk pickers yawn.

ultrawomble

Conrad wrote: »

Why can't FTB, especially couples manage to save like I did, and find a location to suit like I did?

They probably are saving - and watching the market fall. Why pay over the odds of dump in a not very nice area because someone thinks their house is 'worth' what it was in 2007?

Conrad

doire wrote: »

Must be National Ancedotal day

Proove to me FTB cannot buy a home in most parts of Britain - perhaps some links to these out of reach properties would help.:j

shupufski_2

Conrad wrote: »

I got the 'average' point, but I dismissed it as a notional average is meaningless in terms of what real people CAN do right now to buy a home. A mental construct such as an 'average' is utterly meaningless.

Work hard, maybe take a second job, save 15% and buy more or less within any County in Britain - no average to concern onself with.

Note, academic Econcomists did not spot the crunch comming, whereas as amateurs on HPC, myself included did.

Stop worrying about academic stuff, and concentrate on the practical.

BOTTOM LINE - FTB can buy a home with ease.

This is true - as long as you dont care where it is!

I am sure that somewhere in the UK there is a Rolls Royce I can buy for less than £5k as well. I am certain of it. I just have to avoid giving a toss about the condition it is in.

Conrad

ultrawomble wrote: »

They probably are saving - and watching the market fall. Why pay over the odds of dump in a not very nice area because someone thinks their house is 'worth' what it was in 2007?

I agree with you, no problem saving and waiting.

I was responding to the uber - nonsense academic argument that property is out of reach for FTB's.

doire_2

FTBFun wrote: »

My brother bought a repo just before Xmas - it really wasn't that nice at first but a couple of months later, with some hard graft and a little bit more money (not too much), its looking substantially better.

What is your point exactly - other than making asinine comments as usual?

So we have had an uncle, taxi man, friend and now brother.

If you dont like my posts then stop reading them. I dont read about things because i dont like them. Its not that hard to do.

Coeus

Conrad wrote: »

I got the 'average' point, but I dismissed it as a notional average is meaningless in terms of what real people CAN do right now to buy a home. A mental construct such as an 'average' is utterly meaningless.

Work hard, maybe take a second job, save 15% and buy more or less within any County in Britain - no average to concern onself with.

Note, academic Econcomists did not spot the crunch comming, whereas as amateurs on HPC, myself included did.

Stop worrying about academic stuff, and concentrate on the practical.

BOTTOM LINE - FTB can buy a home with ease.

FTB cannot buy with ease mainly due to:
- lack of disposable income (inflation errosion)
- lack of credit availability (LTV%)

I am an academic but am also in the financial industry with a strict savings scheme for a FTB - everything I can reasonable be expected to do I can do but credit availability is the major issue which applied to the MAJORITY (hence AVERAGE) of FTBs.

I think you may be slightly out of touch with the times.

Noted above I am versed in the academic financial aspects and the micro individual aspects. I avoid betting on one side of the coin.

P.S. BOTTOM LINE - in the MINORITY of cases FTBs can buy a home with ease, on the MAJORITY (AVERAGE) of cases this is NOT true as expressed and evidenced in the article for discussion.

Coeus.