Generation rent article in today's paper

moneyinmypocket

Pretty much what most here have thought for a while

http://www.dailymail.co.uk/news/article-2158495/Generation-Rent-1-5m-young-adults-able-buy-homes.html

homelessskilledworker

wotsthat wrote: »

Maybe we'll end up like Germany. Apparently everyone loves renting there.

Uk is not even in the same class as German rented property, for quality of affordabilty or tanancy rights.

Supprised you do not know that, you seem to be an expert on every other subject:)

homelessskilledworker

wotsthat wrote: »

I've always found that decent data to directly compare quality, affordability, and tenancy rights to be hard to come by. What are you basing your assertion on?

Living there!!

Lived there on and off for about 4 years, Munster and the German/Dutch Border

CLAPTON

The German rental market flourishes because it's so expensive to be an owner occupier.

vivatifosi

Yet another article asking how when the average salary is £26k people can afford the average house of £162k. Surely the answer is you buy something cheaper than £162k.

I live in Hertfordshire, one of the most expensive areas of the country and a reasonable commute for London. You can buy one bedroom flats here for upwards of £80k and there's a reasonable selection under £100k, not shared ownership either. If people really want to buy their first property it is still possible.

robmatic

vivatifosi wrote: »

Yet another article asking how when the average salary is £26k people can afford the average house of £162k. Surely the answer is you buy something cheaper than £162k.

I live in Hertfordshire, one of the most expensive areas of the country and a reasonable commute for London. You can buy one bedroom flats here for upwards of £80k and there's a reasonable selection under £100k, not shared ownership either. If people really want to buy their first property it is still possible.

Given that 7 out of 10 adults are in a relationship you would also expect a couple to be buying the average home rather than a single person.

vivatifosi

robmatic wrote: »

Given that 7 out of 10 adults are in a relationship you would also expect a couple to be buying the average home rather than a single person.

For me the big issue is when kids come along. If you have kids, buying something that is suitable as a ftb is way, way harder. For starters you need at least a second bedroom, which puts £20-30k on the price, plus you may not have two full time incomes, particularly when they are young.

My husband and I lived in a one bedroom home for years before we bought the next size up. If you have to it's possible.

What we need to have a better idea of is why ftbs aren't buying. I'm not convinced it is just about house prices. I think there's more to do with mortgage rationing, lack of sentiment, concern about job prospects and the growth of short term contracts..., etc. The answer needs a more comprehensive unpacking, or we are in danger of addressing the wrong issue. For example, it wouldn't matter if house prices fell 5% if people couldn't get a mortgage.

ukcarper

It is possible to buy a reasonable 3 bed house in surrey for £200k. A couple both earning average wage could buy with a10% deposit and a 3.6x joint income mortgage.

Graham_Devon

ukcarper wrote: »

It is possible to buy a reasonable 3 bed house in surrey for £200k. A couple both earning average wage could buy with a10% deposit and a 3.6x joint income mortgage.

Yer, same down here.

But most couples I know who both work full time don't have kiddies.

Most of them have kids.

JonnyBravo

Graham_Devon wrote: »

Yer, same down here.

But most couples I know who both work full time don't have kiddies.

Most of them have kids.

Most people I know, childless or not, have jobs. In fact I don't know a single unemployed person! Of course, that's not representative. I'd certainly, readily agree your sample sounds more representative than mine but just to what degree I'm not sure.

Graham_Devon

JonnyBravo wrote: »

Most people I know, childless or not, have jobs. In fact I don't know a single unemployed person! Of course, that's not representative. I'd certainly, readily agree your sample sounds more representative than mine but just to what degree I'm not sure.

Most I know, from work are in couples with kids, whom normally have one full time partner and one part time. Part time ranging from 6-20 hours a week.