Youth unemployment and owning a home

homelessskilledworker

Interesting day today, a day when house prices become slightly irrelevant, but this is the Debate house board.
Data is out today and hopefully there will be some kind of miracle, I am looking more closely at the young adults data. There is now 25% unemployment in this group, if you look at Europe it is 50% in some parts, I just pray this is not a trend for other parts.

I purchased my first home when I was 20, my sister was 19, and most of my cousins and friends purchased betwen the age of 20 to 26. For me the memory of that first terraced house is as vivid and wonderful as it was back then.

Today there is a group of young people where hope is slipping away, the dream of setting up home is just that A DREAM.

How on earth can anyone want property prices to become more expensive in these conditions.

homelessskilledworker

homelessskilledworker wrote: »

Interesting day today, a day when house prices become slightly irrelevant, but this is the Debate house board.
Data is out today and hopefully there will be some kind of miracle, I am looking more closely at the young adults data. There is now 25% unemployment in this group, if you look at Europe it is 50% in some parts, I just pray this is not a trend for other parts.

I purchased my first home when I was 20, my sister was 19, and most of my cousins and friends purchased betwen the age of 20 to 26. For me the memory of that first terraced house is as vivid and wonderful as it was back then.

Today there is a group of young people where hope is slipping away, the dream of setting up home is just that A DREAM.

How on earth can anyone want property prices to become more expensive in these conditions.

Up 48,000:sad:

We will now get a day of false concern in the media and "there there there" from the politicians and then tommorrow it will be just ignored for another month.

UrWntr

homelessskilledworker wrote: »

I am quite happy with allowing market forces to dictate the haves and have nots in our society, with of course a little protection for true weaker members of society.
But how many people in the UK are living in better homes than those that have decent paid jobs. How many immigrants who have not been here more than 5 minutes, how many playing the system welfare scroungers, how many of those heavily in debt, personal and mortgage are being kept in property that should have been repossessed long ago.

I have friends who are highly skilled in many fields, a few who went to uni, some have highly responsible jobs where few could handle the pressure that they do. Apart from a few that are lucky enough to have extremley wealthy parents, none of us are able to buy property. In my circle it is a continious circle of constantly moving on to yet another rented place, friends who out of the blue will get their 2 months notice, usually at a time when they are under pressure at work.

I am naturally a slghtly center left thinker, I think that at times in our history immigration has made us a better country. I think the principle of a welfare state is a brilliant one if it is used correctly, BUT!!!

There is so many of us now who are losing what has probably made tis country what it is today, aspiration through hard work and putting something into our society.
It seems like millions of illegals, ponces and BTL spivs are taking the homes we dream of.

Something had better change soon, if the very cream of our society cannot dream of owning less than average homes then we are lost.

Are you sure you owned a house when you were 20? Are you sure you have 77k saved up in the bank?

Are you sure you're not just bitter because you can't afford a house?

:rotfl::rotfl::rotfl:

paulmapp8306

lol. your right. My sis bought at 19, and has always had a home. im forces and still dont have one at 44. I will need soon and TBH I have no idea how it will pan out.

having kids doesnt help as "starter" homes do not cater for 2 kids of different genders.

i actually dont know how anyone even gets decent sized mortgages. i earn £40k, and the most I can "borrow" is £132k. OK Ihave a decent deposit but thats not enough to get anything remotely suitable really.

My choices seem to be a run down house in a dodgy area with poor schools thats big enough, or a reasonalby property in a half decent area thats cramped at best - unworkable at worse.

homelessskilledworker

UrWntr wrote: »

Are you sure you owned a house when you were 20? Are you sure you have 77k saved up in the bank?

Are you sure you're not just bitter because you can't afford a house?

:rotfl::rotfl::rotfl:

You are going to find this a difficult concept, but some people go beyond just thinking about themselves.

chewmylegoff

i thought you were homeless, now it turns out you've owned a house for ages. does not compute, does not compute.

UrWntr

chewmylegoff wrote: »

i thought you were homeless, now it turns out you've owned a house for ages. does not compute, does not compute.

It's quite common really.

People who think they need house prices drop in order to afford a house are the most prominent 'bears' on this forum.

However, in order to help make their bearish opinions seem more sincere, they state that they have owned several homes and are currently sitting on a massive desposit so could buy any time they wanted.

Of course we all know it's BS.

ukcarper

You’ve hit on what I consider to be one of the biggest problems not just the unemployment but the work prospects available to young people. But to be honest house prices are not relevant if the only job you can get is 20 hours at the minimum wage.

moneyinmypocket

I understand where your coming from - in an ideal world house prices should always be linked to wages - the last 12 years or so saw some rapid increases and changes to our whole society. The problem is i can't see a HPC happening in isolation - things have gone to far and while the young may have reservations/not be able to buy someone else will(investors)

Percy1983

Interestingly I have just got my contract from the solicitors so my house purchase is more or less done now.

Do I still think house prices need to come down... yes

Will it bother me if they do... no

moneyinmypocket

Congrats percy1983 - it's a good feeling walking through the front door of your new home for first time. Enjoy it