22 year average wait for FTB's

Sapphire

Percy1983 wrote: »

I really shouldn't need to keep saying this, but all ALL the young have iphones and foreign holidays.

As for what other have said the who FTB home idea has changed massively, as a FTB the house we are buying is well above the FTB home people on here keep saying we should buy.

Simple...

If I had had a chance of buying at 18-25 the FTB homes people refer to on here would be fine, but price me out until the age of 28 and that FTB just isn't enough. As it is I have gone straight to a 3 bed semi (actually quasi semi so end of 4 houses) with a massive garden and drive big enough for 2 cars (would post a link to rightmove, but its not wise giving my address away on here), with buying a house and getting married at the age of 28 we aren't going to waste too much time getting on with having children, so to by a 2 bed terrace to have to move in the not to distant future would be foolish.

Wow! How times have changed. My peers never even thought about owning property until we were in our late twenties/early thirties, and had incredibly full and interesting lives. Why on earth do you need to swim around in a house as a couple in your twenties? Why can't you just buy a decent flat and live in that, as is the practice in many places on the Continent? And what on earth is wrong with a two-bedroom terrace for a couple with a kid or two? People used to live in such properties with a far larger number of kids, for heaven's sake. The benefit reforms can't come soon enough, IMHO.

Oh, and we didn't have the equivalent of iPods, etc, and the expectation to go on constant holidays. There were far more interesting things to do than engage with the former, and the latter was an interesting treat if/when it could be afforded, rather than an expectation. Still, now people feel these are absolutely must-have things, to which (among many other things) they are entitled, and which they cannot live without. Very sad.

A nation of shallow morons has been begat… I fear for Britain, I really do, on so many levels.

Graham_Devon

Woah.

The guys saved hard from working hard and done it off his own back. What's with the insults? Shallow moron for buying a house? You just can't do anything right on this forum!

Percy1983

I have been unemployed for 5 (7 if you include a weekend) days since leaving school.

I have never owned anything made by apple, I have been abroad 3 times (Spain, Spain, Malta) in my life (4 if you include being born abroad), I have had to pay for my own cars and the only gift we have had towards buying the house is £525.

Do I really need to explain the problems with 2 children and 2 adults in a 2 bedroom house, will get worse as said children grow up.

In short we have bought a house we could actually stay in for the duration of the mortgage if we so wish.

Sapphire... or should is be Emerald... a bit green.

wotsthat

People taking home £20k can't afford to buy a house - no s**t. They are NEVER going to be able to afford them - they need to earn more - there's no way round this.

The proposed benefits cap is more than this income group.

ukcarper

Lets take a 10% deposit (£12.5k) and say family income is £24k which is lower than average. If they can save £1k a year on £20k they should be able to save £5k on £24k so would get deposit in just over 2.5 years.

RenovationMan

Graham_Devon wrote: »

Taken from MSE news...

http://www.moneysavingexpert.com/news/mortgages/2012/01/22-year-wait-to-buy-first-home-for-low-earners?utm_source=forum&utm_medium=sidebar&utm_campaign=box

Madness. And as the article says, one of the culprits is house prices, not just the deposit.

I don't understand some of the discussions on this board. We get people moaning about lax lending practices pre-cedit crunch that allowed low paid workers to get highly leveraged mortgages to buy houses and then the same people moan that low paid workers are going to have to save for years to get a house (mainly because lending practices have been tightened). Does it not all seem a little juxtaposed?

FTBFun

RenovationMan wrote: »

I don't understand some of the discussions on this board. We get people moaning about lax lending practices pre-cedit crunch that allowed low paid workers to get highly leveraged mortgages to buy houses and then the same people moan that low paid workers are going to have to save for years to get a house (mainly because lending practices have been tightened). Does it not all seem a little juxtaposed?

The argument to this though, is always that house prices are too expensive.

Then you get a load of waffle about "liar loans" and "props", when the real issue is a structural supply problem.

wotsthat

RenovationMan wrote: »

I don't understand some of the discussions on this board. We get people moaning about lax lending practices pre-cedit crunch that allowed low paid workers to get highly leveraged mortgages to buy houses and then the same people moan that low paid workers are going to have to save for years to get a house (mainly because lending practices have been tightened). Does it not all seem a little juxtaposed?

It's quite simple - these people want hous prices to fall independently of any other factor. It punishes the debt junkies - pretty much anyone with a mortgage it sometimes appears.

There's a housing shortage and yet prices fell in 2011. That indicates that other powerful influences are affecting the market. It's not quite what the doom mongers wished for - house prices have fallen and yet they are no more accessible unless you are rich.

Someone needs to have the balls to build a load more houses and hope that finance constraints loosen in the meantime. It's the only likely way that prices will fall AND become more affordable at the same time.

Percy1983

MrsRee wrote: »

Good God your self-entitled pity really needs taken down a peg or ten.

Self entitled pity? I haven't expected anything to be given to me and worked hard for what I have.

To be honest by the age of 29 I will be married have a home, be a qualified accountant and own my own business.

+ I have never been banned form the MSE forums...

Hows your life?

MrsRee wrote: »

Off the back of his parents more like. Remember this man baby still lives at home pushing 30.

Don't worry I will pay back all the money its cost to bring me up, of course I won't forget to invoice my own children of course... oh wait.

I do feel kind of bad as my parents will have LESS money when I move out, but hey I can't keep them forever.

Graham_Devon

RenovationMan wrote: »

I don't understand some of the discussions on this board. We get people moaning about lax lending practices pre-cedit crunch that allowed low paid workers to get highly leveraged mortgages to buy houses and then the same people moan that low paid workers are going to have to save for years to get a house (mainly because lending practices have been tightened). Does it not all seem a little juxtaposed?

So you want to see 100%+ mortgages back do you?

I realise you are just trying to create a holier than thou point to try and create an argument, and then moan that the discussion has gone down hill. And not a very good one at that. But come on. No one is moaning about lending practices, and to try and suggest I am is rather stupid, as all I would need to do is ask you for evidence of your assertion and you'd dissapear.