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Debate House Prices
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CML: Age of FTB
Comments
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Its a bit predictable that the bulls sell getting bailed out by Mumsie and pops is the only way to go.
Actually, its clear that a lot of parents worry about their kids getting a foothold, only unlike the Bulls they were only to happy to see some normality brought to house prices in the Crash.
A Bull is someone who has bought a house but hasn't had kids? Okay, thanks for clarifying the geneer definition.0 -
Im 25, my fiancee is 24, we are currently purchasing our first home, mainly due to my ability to save, we have only been saving for a year and we have managed to save £14,000.
It is achievable if you're able to make sacrifices such as staying at home rather than renting and generally not frittering away your cash.
If you rent and live in the capital then it's clearly less achievable, but at £127k, houses are still affordable for us.0 -
Jack_Johnson_the_acorn wrote: »Im 25, my fiancee is 24, we are currently purchasing our first home, mainly due to my ability to save, we have only been saving for a year and we have managed to save £14,000.
It is achievable if you're able to make sacrifices such as staying at home rather than renting and generally not frittering away your cash.
If you rent and live in the capital then it's clearly less achievable, but at £127k, houses are still affordable for us.
A fine example of the youth of today who can show that it is still possible to afford property if you set your mind and goals towards it.
You are example to your peers and to some elders in here
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Presumably you would therefore be all to happy to see house prices revert to historical norms then.
Or do you think it should only be better for winkies with rich mummies and daddies?
Hmmm, house price historical norms.....
Please insight us as to what percetage of property has been affordable historically.
There are stat's that shows that only 100 years ago, owner occupancy was minimal.
Indeed IIRc, something like almost 80% of properties were privately owned and rented out.
The last 30 - 50 years or so are historically an anomoly to which many of us have benefitted by being able to own our own property
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »A fine example of the youth of today who can show that it is still possible to afford property if you set your mind and goals towards it.
You are example to your peers and to some elders in here
If we moved out years ago and rented (like we wanted to) it probably would of taken a lot longer, I think a lot of the people who complain about unaffordable housing are the ones with either a low income, high rent or maybe both, myself and my partner are on a combined income of around £50k though, I would say the majority of young couples simply don't have this much expendable income. (No children, and only a small amount of uni debt)0 -
Jack_Johnson_the_acorn wrote: »If we moved out years ago and rented (like we wanted to) it probably would of taken a lot longer, I think a lot of the people who complain about unaffordable housing are the ones with either a low income, high rent or maybe both, myself and my partner are on a combined income of around £50k though, I would say the majority of young couples simply don't have this much expendable income. (No children, and only a small amount of uni debt)
You sound very similar to the wife and I although I did rent for a while and when she moved in, we decided to buy a place together.
Our combined income (with no kids) meant we could stretch ourselves, buying firstly a property that needed modernising, before we upsized a few years later to a 4 bed house that just needed a lot of cosmetic work
The thing is, for years, we used our double income to reduce our mortgage debts wuch that now we have kids, the wife can stay at home and bring them up.
good luck to you.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »You sound very similar to the wife and I although I did rent for a while and when she moved in, we decided to buy a place together.
Our combined income (with no kids) meant we could stretch ourselves, buying firstly a property that needed modernising, before we upsized a few years later to a 4 bed house that just needed a lot of cosmetic work
The thing is, for years, we used our double income to reduce our mortgage debts wuch that now we have kids, the wife can stay at home and bring them up.
good luck to you.
We haven't stretched ourselves too far, the place we are buying is a "forever home" or at the very least a 20 year home hopefully, so we aren't too worried about the short term drops in property prices as it would cost the same to rent this property.... And for some reason we want to live together, it just makes sense for us to buy.0 -
Jack_Johnson_the_acorn wrote: »We haven't stretched ourselves too far, the place we are buying is a "forever home" or at the very least a 20 year home hopefully, so we aren't too worried about the short term drops in property prices as it would cost the same to rent this property.... And for some reason we want to live together, it just makes sense for us to buy.
We couldn;t afford to go straight into our forever home and had to start with a 2 bed flat.
We moved into our "forever home" 4 years later, thanks partially to HPI.
Yes, our forever home had increased in price, but because of the rennovations we did to the flat and hpi, we then had the sufficient equity to get the forever home.
You sound like you've got your head screwed on and I wish the both of you the best of luck in your life.
Moving into your home will be a fantastic experience for you.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Jack_Johnson_the_acorn wrote: »We haven't stretched ourselves too far, the place we are buying is a "forever home" or at the very least a 20 year home hopefully, so we aren't too worried about the short term drops in property prices as it would cost the same to rent this property.... And for some reason we want to live together, it just makes sense for us to buy.
The thing is though, I would never ever buy a house with someone that I had never lived with before.0
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