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Debate House Prices
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Rightmove April +1.7%
Comments
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Don’t you think that the fact that over 3x as many people go to university now than did in 1980 would have some effect of the number of people under 35 buying?
See linton beat me to it.
It might well do, but out of those extra people who now go to university, you have to consider the debt they leave university with, the qualifications they have, and if they can get a job, and how much that job pays. Of course, current property prices might also effect the number of people in certain age brackets who buy, or are able to buy.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
It might well do, but out of those extra people who now go to university, you have to consider the debt they leave university with, the qualifications they have, and if they can get a job, and how much that job pays. Of course, current property prices might also effect the number of people in certain age brackets who buy, or are able to buy.
Your right to say that the price of property is the reason the average age of a FTB has increased is much to simplistic.0 -
Interesting that the number of sub-25 FTBs was very low in times of very lax mortgage lending criteria i.e. even when 100-125% mortgages were available.0
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things like this aren't relevant to the discussion with the usual suspects.Don’t you think that the fact that over 3x as many people go to university now than did in 1980 would have some effect of the number of people under 35 buying?
See linton beat me to it.
they'll come back with a totally different answer to the subject of your post.0 -
Increasing house prices aren't only bad for First Time Buyers.
Increasingly parents are having to finance their children's purchase.
High house prices are bad for society, Social mobility and many older folk.
Conservative lending criteria have led to lower LTV ratios and much greater dependence by FTBs on the bank of mum and dad. Those aged under 30 are now heavily reliant on parents and other relatives for financial support. We estimate that, in 2005, 38% of those aged under 30 required help with their deposit. Table Two shows that by 2009 an estimated 84% of FTBs in this group were assisted.0 -
it's the deposit criteria that's the problem not the house prices if you want to bring in bank of mum and dad into the discussion.Increasing house prices aren't only bad for First Time Buyers.
Increasingly parents are having to finance their children's purchase.
High house prices are bad for society, Social mobility and many older folk.
Conservative lending criteria have led to lower LTV ratios and much greater dependence by FTBs on the bank of mum and dad. Those aged under 30 are now heavily reliant on parents and other relatives for financial support. We estimate that, in 2005, 38% of those aged under 30 required help with their deposit. Table Two shows that by 2009 an estimated 84% of FTBs in this group were assisted.
the income multiple is about the same but the size of the deposit as a percentage of income has soared which is why assisted FTB's are higher.
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Increasing house prices aren't only bad for First Time Buyers.
Increasingly parents are having to finance their children's purchase.
High house prices are bad for society, Social mobility and many older folk.
Fair point on the first two - but I disagree with this. Surely "older folk" are those most likely to have been able to purchase a property by that stage?0 -
it's the deposit criteria that's the problem not the house prices if you want to bring in bank of mum and dad into the discussion.
the income multiple is about the same but the size of the deposit as a percentage of income has soared which is why assisted FTB's are higher.
So a higher deposit is needed to buy a first time property? Which is often a tiny one or two bedroom flat (thanks for high density homes you labour idiots).
House price cheerleaders are wrong, unaffordable housing is bad for the country and the economy.0 -
Fair point on the first two - but I disagree with this. Surely "older folk" are those most likely to have been able to purchase a property by that stage?
True.
I was thinking more older folk having to raid their savings to help their children or grandchildren get an outstretched finger grasp on a tiny starter home.0 -
True. I was thinking more older folk having to raid their savings to help their children or grandchildren get an outstretched finger grasp on a tiny starter home.
Well there's one way around that - build more houses.
I do note however your choice of words on starter homes - what is wrong with a one or two bedroom flat as a first home?0
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