'Generation rent' excluded from home ownership

Graham_Devon

Callie22 wrote: »

Fair enough - but can I have the same security of tenure that was available to previous generations who couldn't buy? Can I have the same access to state-subsidised housing that my parents and grandparents had? Give me some security of tenure, a reasonable guarantee of quality and fair rent and I'll quite happily rent for the rest of my life without saying a word. However, it's a bit off to say 'well if you don't earn enough/can't save then do without, it's what everyone did before' when previous generations had more opportunity to have a long term home, even if they weren't earning that much.

This morning on BBC breakfast, there was an acceptance of the lack of security in renting from a bloke from Halifax. So it may just be that if we are going to go back to renting, security may be looked at.

It will, however, be up against a lot of people who do not want to see higher security for tenants. Unfortunately, a lot of them also make the rules.

chewmylegoff

Graham_Devon wrote: »

It will, however, be up against a lot of people who do not want to see higher security for tenants. Unfortunately, a lot of them also make the rules.

if focus groups start telling politicians that increasing security of tenure is a significant net vote winner, then they will amend their manifestos accodingly. they probably still won't actually do it though!

FTBFun

Graham_Devon wrote: »

It will, however, be up against a lot of people who do not want to see higher security for tenants. Unfortunately, a lot of them also make the rules.

Also the same for relaxing planning permission I reckon.

chucky

Percy1983 wrote: »

As much as I agree people aren't willing to cut back then I have no sympathy for there situation

so if i decided to rack up £30k of debt on credit cards i shouldn't be able to buy a house to live in and have to rent forever?

there are plenty of people out there in this situation. how do we deal with these people?

Yakubu22

Being someone who supposedly did everything the "right way" (i.e. did well at school, went to uni, got a good degree, got a decent job based on my degree qualification).

I do feel a little peeved sometimes at the remarks from older members here suggesting that the younger generation can't afford because they can't cut back on luxuries/holidays. Like the masses of wannabee FTBs are struggling to buy simply because "they want it all".

When this whole financial mess was also contributed to, by the slightly older population who thought they could borrow to the hilt (bigger houses/ bigger mortgages/new cars/holidays) and naively remain financially secure.

For me, as someone who saved in ISAs, invested in stocks, and has tried to build a good desposit. I find it frustating that a nice 3 bed semi with a nice garden, in a good local area is out of reach. I drive a 10yo car, my only holidays are to see my parents who live abroad (so no need to pay for any accomodation). I dont live life in the fast lane (which is slightly depressing), as I know that I can't afford to waste money -even on an above average salary. But then I also feel, that I should enjoy life and not live like a hermit for ever.

Buying your first house has always been hard, but I feel conditions currently are incredibly difficult at the moment. Unless of course you're lucky enough to have wealthy family to give you a leg-up the ladder (which I'm not).

Percy1983

chucky wrote: »

so if i decided to rack up £30k of debt on credit cards i shouldn't be able to buy a house to live in and have to rent forever?

there are plenty of people out there in this situation. how do we deal with these people?

They have to pay there debts...

In short actions and consequences, if you rack up £30k you shouldn't be able to buy a home until its at a reasonable level to which in won't affect your ability to get a mortgage.

The end of the day I had a high level of debt, to which I didn't exepct to buy a home with it, to which it just made the journey longer (clear debts then save a deposit).

FTBFun

Yakubu22 wrote: »

I find it frustating that a nice 3 bed semi with a nice garden, in a good local area is out of reach.

Can I ask - have you not thought about aiming for something a little lower than this for your first home? I'd say its fairly rare for FTBs to go straight into a 3 bed semi.

Yakubu22

FTBFun wrote: »

Can I ask - have you not thought about aiming for something a little lower than this for your first home? I'd say its fairly rare for FTBs to go straight into a 3 bed semi.

If you're looking to start a family. Then i dont think an apartment or even a small 2 bed semi would be suitable in the medium term. I appreciate they would be more affordable but I feel it would be outgrown very quickly and i wouldnt want to have to move again in a few years time.

mr_fishbulb

Yakubu22 wrote: »

If you're looking to start a family. Then i dont think an apartment or even a small 2 bed semi would be suitable in the medium term. I appreciate they would be more affordable but I feel it would be outgrown very quickly and i wouldnt want to have to move again in a few years time.

This is an interesting comment and has got me to thinking now that the average FTB is 37 (or similar), is the size of the average property the FTB is buying larger?

People can get away with a 1 bedroom place in their mid 20's, but at close to 40 you're going to want to start thinking about where to put the little 'uns (if you haven't already got some).

GlynD

Callie22 wrote: »

Fair enough - but can I have the same security of tenure that was available to previous generations who couldn't buy? Can I have the same access to state-subsidised housing that my parents and grandparents had? Give me some security of tenure, a reasonable guarantee of quality and fair rent and I'll quite happily rent for the rest of my life without saying a word. However, it's a bit off to say 'well if you don't earn enough/can't save then do without, it's what everyone did before' when previous generations had more opportunity to have a long term home, even if they weren't earning that much.

Yes you do. You may not like social housing but it's there for you to rent.