Those born after 1979 could be stuck being a lifelong renter

MrRee_2

According to a report in The Independent:-

Being born before or after 1979 is apparently key to whether you're able to afford to own your own home or not.

Older than 33 and you're likely to be already on the ladder, having bought a few years ago and seen values rise in the main.

Younger than 33 and it's a massive struggle to put enough of a deposit together and to earn enough to secure a sufficiently large mortgage to get on the ladder.

Poor Jimmy31, just born too late, and stuck holding onto hope and his Mummies apron strings.

DervProf

Good news for those forum members who seem to take pleasure in ridiculing those who rent their homes. Plenty of people born after 1979 to have a go at.

Ronaldo_Mconaldo

I turned 31 the other day. We've owned our house for almost 4 years. I can think of many other people who would help to disprove your half arsed theory as well. Back to the drawing board with you.

nearlyrich

DD is 24 she has been a homeowner for almost a year...I know people in their 50's and 60's who rent possibly because they can't get a mortgage or because they prefer not to be responsible for the upkeep of a house.

homelessskilledworker

MrRee wrote: »

Being born before or after 1979 is apparently key to whether you're able to afford to own your own home or not.

Older than 33 and you're likely to be already on the ladder, having bought a few years ago and seen values rise in the main.

Younger than 33 and it's a massive struggle to put enough of a deposit together and to earn enough to secure a sufficiently large mortgage to get on the ladder.

Poor Jimmy31, just born too late, and stuck holding onto hope and his Mummies apron strings.

You are a nasty piece of work

PasturesNew

I'd say the key isn't age, but whether you're single or in a couple.

BobQ

MrRee wrote: »

Being born before or after 1979 is apparently key to whether you're able to afford to own your own home or not.

Older than 33 and you're likely to be already on the ladder, having bought a few years ago and seen values rise in the main.

Younger than 33 and it's a massive struggle to put enough of a deposit together and to earn enough to secure a sufficiently large mortgage to get on the ladder.

Poor Jimmy31, just born too late, and stuck holding onto hope and his Mummies apron strings.

A wild generalisation as ever. But if you want to generalise....

The fact is that those born after 1979 are trying to buy a house when the long term house price to earnings is abover the long term average. When it falls to a more realistic level they will be able to buy.

But another factor is that those born in the late 50s mostly approached the problem differently. They saved for their house deposits, bought old cars, accepted second hand furniture and did not expect to take lots of foreign holidays. In short they lived within their means. Those born after 1979 have been encouraged to take on debts and spend what they do not have. This cultural change was progressive, but I suspect those in their 20/30s now who have a house with a mortgage that is less than when they bought it are the ones who have not been taken in by the debt culture.

MrRee_2

I must point out that the article in the OP is taken from the Independent Newspaper ... I cannot take all the praise for it.

Quite how they knew about Jimmy31 and his Mummy, I have no idea whatsoever!!

MrRee_2

BobQ wrote: »

But another factor is that those born in the late 50s mostly approached the problem differently.

They saved for their house deposits, bought old cars, accepted second hand furniture and did not expect to take lots of foreign holidays.

In short they lived within their means.

Very ture, good post.

The young do seem to think that they can/should have the House + New Furniture + Nights out on the town + good food + iPads + Internet + 50" Plasma TV + Xbox ++++++++++

Is that the older generations fault? Wanting to give our offspring everything we had to fight for? We may have built a rod for our own backs, I fear.

PaulF81

Tell you what, I ask for one thing.

The same planning system previous generations enjoyed.

mark5

I was born in 1980, bought my first house in 2003 on my own and my second one in 2006 with my then girlfriend now wife, all bar one of my friends have bought houses.