MP on £65k Bleats He Can't Get on the Ladder

lostinrates

IronWolf wrote: »

He isn't a single professional though. Over the age of 30 I'd say there are very few people that still live in shared accomodation, or that are prepared to.

Plenty in London. Not always as rental shares adittedly..e.g. people who have bought and let a room. I know lawyers, writers, academics and graduate admins and people in media who do.

FTBFun

lostinrates wrote: »

Plenty in London. Not always as rental shares adittedly..e.g. people who have bought and let a room. I know lawyers, writers, academics and graduate admins and people in media who do.

I used to live with a Kiwi lady in her mid-to-late 30s whom was fairly well compensated - she was saving to buy a flat which she ultimately did.

PasturesNew

This was on the local news - he says he wasn't talking about him, but trying to highlight how the locals must be struggling.... so PR/spin then.

They did say, at one point, that he'd need a deposit - indicating that he hasn't actually got one.

The BBC went round to find some 'affordable housing' and established that if you had 15% deposit and a salary of £25k (not many down here do), then it'd be possible to get a 2-bed new build pokey house in a village called Fraddon .... which is what's referred to here as "the clay villages", or "grim".

He said he was highlighting the issue of 2nd homes.

In my opinion, he's done it badly - and the journalist follow-up piece was also done badly. So all it's really done is got lots of middle class people being seen on the telly.

PasturesNew

As for housesharing in London - surely they've got their act together and all share together, that'd make most sense to me, rather than trying to randomly find a share. When I worked away from home I found the cheapest B&B I could (as I was paying for it).

AndyGuil

No deposit = no mortgage.

twadge_face

I'm glad someone is being outspoken and recognising the plight of FTBs in regards of the crazy high house prices in this country. It IS an issue. Those who disagree seem to be just fine in their own personal castle, or ivory tower, or glorious fort.

As for Stephen Gilbert's personal circumstances... well, he says he's only just had the pay rise since being elected. It'll take a little while to get the £25K deposit together.

So, assuming he has a student loan, his monthly take home on a £65K salary is £3,317.41 (reference: http://listentotaxman.com). I'll let someone who cares do the maths but as a middle class apologist I'd point out that this is simply "not as much as it sounds" (welcome to so-called greed - but is it greed really?).

Because, as a politician, if he's truly representing the people (go on, don't be cynical - go with me on this), he needs to go to the Houses of Parliament on a daily/weekly basis. What's the best way to do that? By train of course. Why waste time on poxy A-roads when he could be working whilst travelling? So he probably needs to be within reasonable distance of a train station given our Tory-annihilated rail system. That'll bump up the prices of appropriate property as well.

Basically, I can find myself agreeing to a certain extent, i.e. sure, his salary suggests he is LOADED... but the point is, a sudden increase in income does not make it suddenly easy to buy a home.

Perhaps the other folk on this site are right to suggest he needs to learn patience and save up the necessary £25K deposit.

But the guy's 34 already. It gets frustrating to have to put your life off for so long... which is exactly what high house prices do. High house prices overvalue security of accommodation, overvalue the "glory" of the greenbelt (sure thing), whilst simultaneously undervaluing the importance of people's peace of mind in the face of ever-dubious scumlords (landlords).

Peace of mind? Did you read that right? Hopefully so, yes. We all want peace of mind. This country is denying that - WILFULLY! - to its young.

Question is, why won't we address it? A certain impossible inertia.

One thing I have felt: Labour split the middle class in half on the basis of birth timing. Those that bought at the "right time" and those that "couldn't buy".

Fingers crossed in a decade or so we'll see better times (for the young). But for now, long-drawn-out stagnation and mild-to-moderate house price drops is what we'll see, against a background of challengingly true inflation everywhere else, till the ratios of earnings to house prices are near-enough restored.

Welcome to our own Japan-style "lost decade", and it's only just begun.

And it's within that context that I welcome the comments of Stephen Gilbert. Someone has to make a stand and make people aware of the bullsh1t we've fed to the kids. And that's OUR flesh and blood.

Denying our children reasonably-price property whilst living in nice accommodation is akin to denying them food whilst we dine on expensive smoked dolphin and the divine hearts of unicorns.

Sorry, manic phase. Taking lithium now. *deep breath*

[I knew there was a reason I don't visit here often]

bristol_pilot

There are plenty of people in this country who have never worked a day in their lives whose benefits come to well over the post-tax income of someone on £65k. Those who have their housing costs picked up by the taxpayer have little comprehension of how expensive it is for those who don't.

Personally, I have some sympathy with the MP.

PasturesNew

twadge_face wrote: »

So, assuming he has a student loan, his monthly take home on a £65K salary is £3,317.41 (reference: http://listentotaxman.com).

Not sure if he would have a loan, reading his wiki he seems to have been brought up a bit posh, so parents probably paid for everything.

twadge_face wrote: »

Because, as a politician, if he's truly representing the people (go on, don't be cynical - go with me on this), he needs to go to the Houses of Parliament on a daily/weekly basis. What's the best way to do that? By train of course. Why waste time on poxy A-roads when he could be working whilst travelling? So he probably needs to be within reasonable distance of a train station given our Tory-annihilated rail system. That'll bump up the prices of appropriate property as well.

No, he can't go by train, it'd take him 5 hours each way even if the trains were running on time. He has to weekly commute or fly.

twadge_face wrote: »

Basically, I can find myself agreeing to a certain extent, i.e. sure, his salary suggests he is LOADED... but the point is, a sudden increase in income does not make it suddenly easy to buy a home.

Sudden increase from how much though?

twadge_face wrote: »

Perhaps the other folk on this site are right to suggest he needs to learn patience and save up the necessary £25K deposit.

But the guy's 34 already. It gets frustrating to have to put your life off for so long... which is exactly what high house prices do. High house prices overvalue security of accommodation, overvalue the "glory" of the greenbelt (sure thing), whilst simultaneously undervaluing the importance of people's peace of mind in the face of ever-dubious scumlords (landlords).

True. But he can see a well paid and glittering future ahead of himself, so his short term sacrifice will be worth it, many will never reach £20k in their lifetimes no matter how long they put everything on hold.

I bought at 40.... and it wasn't the sort of place he's lusting after.

twadge_face wrote: »

Peace of mind? Did you read that right? Hopefully so, yes. We all want peace of mind. This country is denying that - WILFULLY! - to its young.

Not just its young - there have always been bunches of society priced out for various reasons, such as single status and/or geography and/or lack of luck or contacts. Remember, the Internet's young and years ago you only knew what you could see in your road or what your immediate circle exposed you to.

twadge_face wrote: »

And it's within that context that I welcome the comments of Stephen Gilbert. Someone has to make a stand and make people aware of the bullsh1t we've fed to the kids. And that's OUR flesh and blood.

So, you're admitting its 'your' parents that screwed you over. Anybody moaning about older people must be moaning about their own parents - so phone them up now and whine. If it wasn't YOUR parents, then was it older people ... or would they just have you thinking that? It was people trying to 'invest' and 'make free money' from houses that are to blame. Money grabbers. Not the older generation, it's not their fault.

I've seen just as many 19-29 year old developers on Homes Under the Hammer (if not more) than I've seen 50-70 year olds.

twadge_face wrote: »

Denying our children reasonably-price property whilst living in nice accommodation is akin to denying them food whilst we dine on expensive smoked dolphin and the divine hearts of unicorns.

Are you denying your children? If you now sell your house for £30k will they benefit? No, because one of the money grabbers will snap it up and resell it next week for £230k. Is it you? Or is it them?

twadge_face wrote: »

Sorry, manic phase. Taking lithium now. *deep breath*

[I knew there was a reason I don't visit here often]

We're all mad here, you need to be really.

Spartacus_Mills

PasturesNew wrote: »

Luxury

Saving for a pension is not a luxury, it is a necessity.

ninky_2

twadge_face wrote: »

Denying our children reasonably-price property whilst living in nice accommodation is akin to denying them food whilst we dine on expensive smoked dolphin and the divine hearts of unicorns.

so share out some of the dolphin and unicorn with them. manage the intergenerational wealth flow. if you have accrued property equity through good fortune then pass some of that down the generational line.

state intervention /help should be for those less fortunate who don't have parents with equity /the means. otherwise i think i would literally force through legislation to make parents responsible for housing their children if necessary. parental responsibility should extend beyond 18.

what is the point in building an economic situation to make the population more wealthy (i.e. home owners) if they are literally going to !!!! that opportunity up the wall and not pass the good fortune down to their own offspring? honestly, why do some people have kids?