We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
'Generation rent' excluded from home ownership
Comments
-
No. I genuinely can not see why the vast majority of 25 year olds would have had a problem saving up for a deposit.Graham_Devon wrote: »I'm not sure if you are being sarcastic or not!?0 -
No. I genuinely can not see why the vast majority of 25 year olds would have had a problem saving up for a deposit.
Are you assuming the vast majority of 25 year olds haven't gone to uni (or indeed any other further ed), and are living rent free with their parents, while earning average wages?0 -
exactly, they also the last people that should really complain that house prices are unaffordable when they're the main reason to blame that they can't afford to buy.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).0 -
OK, I accept that I have the opportunity to join a waiting list - but in reality, my OH and I as healthy, childless people have next to no chance of ever having a high enough priority to actually get a property. We've looked at the local Housing Associations and again, as healthy, childless people who aren't key-workers there isn't really anything available to us. In the town where I live, they've built 40 council houses in the past two years (in fact, they've allocated the money for these, I don't think they're actually built yet). There are 13,000 people on the council's waiting list (according to a local news report from January this year). Realistically, there's no way we'd get council housing. So our only option is to rent privately, where we don't have much in the way of security of tenure.
Fine, there's loads of housing up North, but there isn't necessarily the work to go with it. I'd be a fool to leave my job in the hope of a cheap house, given that I'd still need a job to pay for it, grants or not ...
My point is, and has been from the start, that this is no different to when I was growing up in the 1960's. You got married and went on the council waiting list until you had enough points.
The essence of my point is: no-one owes you the right to be able to afford your own home. I say that in the nicest possible way. I've been through it all too as have many others on here.0 -
Fine, there's loads of housing up North, but there isn't necessarily the work to go with it. I'd be a fool to leave my job in the hope of a cheap house, given that I'd still need a job to pay for it,
Can we make this required reading for the bears who deny supply and demand has anything to so with house prices.....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Terrible nonsense. There is no reason why a young person nowadays will not be able to afford a home. How can anyone not have enough for a deposit by the time they are 25? If someone is unable to purchase a house then it is not the deposit that is the problem.
There is no excuse for most 25 year olds to not have tens of thousands of pounds in savings.
Seriously this pretty much sums up the out of touch attitude of some of the older generation. I'm not sure what planet you live on. But how on earth does someone who graduates at the very earliest 21. Then save "tens of thousands" while paying tax, student loan repayments, and living costs in less than 4 years.
What a disgusting level of ignorance."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
Seriously this pretty much sums up the out of touch attitude of some of the older generation. I'm not sure what planet you live on. But how on earth does someone who graduates at the very earliest 21. Then save "tens of thousands" while paying tax, student loan repayments, and living costs in less than 4 years.
What a disgusting level of ignorance.
Agreed. Looking over my accounts my savings did make it into 5 figures before I hit 25, but I finished uni just as I hit 21, have been in a relationship ever since which saves a lot of money, and the both of us got fairly decent jobs quite quickly. It is just idiocy to think this applies across the board.
In fact I have a rather large suspicion that many of the homeowning older generation who like to lecture the young have never managed to save up tens of thousands in their life.0 -
Reading this thread I get the impression far too many first time buyers are expecting too much.
Part of the role of first time buyer is to buy something in a hopefully up and coming area as opposed to somewhere more established.And also get a place considered at the bare minimum to be a dooer upper.
This saves many thousands and is the way it was done.
The other part of the first time buyer experience that involves waiting until you have the funds to decorate and buy expensive consumer goods seems hardly worth mentioning as it would be laughed off this thread as being something totally impossible.0 -
Reading this thread I get the impression far too many first time buyers are expecting too much.
Part of the role of first time buyer is to buy something in a hopefully up and coming area as opposed to somewhere more established.And also get a place considered at the bare minimum to be a dooer upper.
This saves many thousands and is the way it was done.
The other part of the first time buyer experience that involves waiting until you have the funds to decorate and buy expensive consumer goods seems hardly worth mentioning as it would be laughed off this thread as being something totally impossible.
Why don't you generalise some more?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards