Those born after 1979 could be stuck being a lifelong renter

quantic

Born 1985, earning slightly below the national average, no help from parents, no inheritance, bought on my own at 25 - common sense and going without for a few years. Have more money now then when i was renting.

Might I add, with a 18 year mortgage - none of this 40 year or interest only nonesense.

DervProf

Pobby wrote: »

Once again, another sad post from a sad poster. I really cannot see what fun they get out of taking a pop at renters. . I have kids in our family, paying stupid amounts for shoe boxes.

A grand plus a month! Money being taken from the wider economy. Just money going to the lenders. So what happens if one of them gets kicked from their job? Wealth is not built on house prices but a vibrant economy which the UK has seemed to missed the point.

Ah, but you are missing the pont.

The money paid to landlords is going into the wider economy, except it is taking a different route. As many of the more intelligent and mysterious posters have pointed out, renters are losers, and they should have bought a property by now, or should buy asap before they miss the boat.

And things are getting better, because there is an increasing number of landlords, so that's more people making brilliant financial decisions, and that can only be good for the UK economy, can't it ?

ukcarper

I’m not sure about this my youngest was born after 1979 and he is buying his own home as are most of his friends. Admittedly if they had been born 10 years earlier they would have benefited from the low prices in 90s and been able to buy better property but they managed to buy with out help from parents.

Jimmy_31

MrRee wrote: »

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.

This may blow your mind MrRee but i consider myself lucky compared to how hard other people are going to find things in the coming years.

I left school and was lucky enough to land myself a real indentured trade apprentiship after wasting 12 months of my life on a YTS course i didnt want to be on but was forced to attend.

During my apprentiship i didnt manage to save a penny to put towards a house as i was only earning iirc £60 per week rising to £180 a week in the last year, which all got spent on tools/van/insurance.

Upon completion of my apprentiship i started to earn a full wage which was when i wanted to save up my deposit for my first house. By the time i had saved up a deposit, the housing market had gone mental, prices had rocketed and my deposit was no longer required as the banks were giving everybody however much money they wanted.

I decided not to buy, this may seem daft as i work in the construction industry and it was absolutely booming at the time but ive never been one for thinking my job is safe, plus the old timers on site told me work would come to a grinding halt at some point as thats how it works (luckily i listened but lots didnt). Turns out they were right and i was made redundant when the bubble popped.

If i had bought a ridiculously priced house, i would no longer have it as it would have been repossessed about 3 years ago when work started drying up.

Which brings me to where i am today, i could buy a cheap 2 bed terrace outright on a rough estate or i could hang on for a bit whilst house prices are falling and hopefully get myself a half decent house in a half decent town.

One thing i know for sure is that once i have bought a house outright, i am no longer at the mercy of the government/ banks/ landlords/ 5hitty construction firms or anybody else.

I will be free to do what i want, when i want
.
Like i said, i consider myself to be lucky.

I may even treat myself and buy a wife:D

Percy1983

Brallaqueen wrote: »

Terminally single, born in 1983, no inheritance or rich parents to help

Had to buy a flat rather than a house though

As I am in the same situation with no inheritance or rich parents, I was getting towards buying a flat and then broke the being single and the target changed, as it is the goal posts also then moved so we had to clear debts and save which then delayed us another few years.

All is well now and the 3 bed semi awaits.

Percy1983

Jimmy_31 wrote: »

This may blow your mind MrRee but i consider myself lucky compared to how hard other people are going to find things in the coming years.

I left school and was lucky enough to land myself a real indentured trade apprentiship after wasting 12 months of my life on a YTS course i didnt want to be on but was forced to attend.

During my apprentiship i didnt manage to save a penny to put towards a house as i was only earning iirc £60 per week rising to £180 a week in the last year, which all got spent on tools/van/insurance.

Upon completion of my apprentiship i started to earn a full wage which was when i wanted to save up my deposit for my first house. By the time i had saved up a deposit, the housing market had gone mental, prices had rocketed and my deposit was no longer required as the banks were giving everybody however much money they wanted.

I decided not to buy, this may seem daft as i work in the construction industry and it was absolutely booming at the time but ive never been one for thinking my job is safe, plus the old timers on site told me work would come to a grinding halt at some point as thats how it works (luckily i listened but lots didnt). Turns out they were right and i was made redundant when the bubble popped.

If i had bought a ridiculously priced house, i would no longer have it as it would have been repossessed about 3 years ago when work started drying up.

Which brings me to where i am today, i could buy a cheap 2 bed terrace outright on a rough estate or i could hang on for a bit whilst house prices are falling and hopefully get myself a half decent house in a half decent town.

One thing i know for sure is that once i have bought a house outright, i am no longer at the mercy of the government/ banks/ landlords/ 5hitty construction firms or anybody else.

I will be free to do what i want, when i want
.
Like i said, i consider myself to be lucky.

I may even treat myself and buy a wife:D

Hey Jimmy if you wanted to see a few sockie heads explode you could come and live in my spare room. :rotfl:

the_flying_pig

ukcarper wrote: »

I’m not sure about this my youngest was born after 1979 and he is buying his own home as are most of his friends. Admittedly if they had been born 10 years earlier they would have benefited from the low prices in 90s and been able to buy better property but they managed to buy with out help from parents.

yeah, that's the point, really. people who, born 5 years earlier, would have been able to buy 'five star' houses are bumped down into 'four star', people who'd have been able to buy 'four star' bumped down to three, etc. relatively small numbers are 'priced out' of all home ownership. but an entire generation's living standards have taken a hit.

MrRee_2

Nice post Jimmy ..... may I make a few points?

Firstly, I hope you secured that employment you were going to hear about today at noon?

Second, you have repeatedly said that house prices around your way are down to £30k for a 2 Bed Terrace .... I would have thought you could step up to a 4 Bed Detached at around £75k, why haven't you?

Third, I would REALLY advise you to buy now if you can - this house price wave will hit your area this spring, as sure as night follows day.

Cheers

Jimmy_31

PasturesNew wrote: »

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

I would totally agree.

FAMILIES FAMILIES FAMILIES cant afford a house, forced to rent, all over the media, everywhere you look.

It was over a year ago i noticed the media stopped mentioning single people.

I wonder who told them to do that.

I watched one of them property programmes channel 4 had a week long run of before christmas and that george clarke fella was giving somebody a hard time regarding councils knocking down perfectly good 2 bed terraces because they were too small for families.

The woman from the council said, families wont move into them because they are too small and have no front gardens.

George then said right love, so what could be done with these houses (so i though here we go, george will give her a mouthfull and tell her they were fine for single people) george then said, why dont you knock 2 houses into one to make them big enough for a family. I turned it off then:rotfl:

Jimmy_31

MrRee wrote: »

Hiya Jimmy31 ..... you can post as Jimmy lad if you want!

Im fine with just the one ID thanks.