Did anyone see that thing about Generation Rent?

ruggedtoast

On ITV last night at about 7.30. It was full of salacious wannabe buy to let landlords smacking their greasy lips and rubbing their bri-nylon trousered thighs at the promise of "tenant frenzies" in response to a coat of magnolia in a shoe box.

There were two lottery winning jocks with tattoos creating a buy to let portfolio, and a couple of boomers who plumped for an over priced newbuild in the hope the roof wouldnt go, as they didnt want to have to actually talk to their tenants.

Priced Out got a bit of a mention but unfortunately the shows example of Generation Rent was a couple of numpties in London on £80k a year whingeing they couldnt save a deposit after paying £1500 a month on their rental.

IveSeenTheLight

ruggedtoast wrote: »

Did anyone see that thing about Generation Rent?

Yes,
Didn't really learn anything new from it.

I thought the presenter was trying to exagerate the problem throughout to be honest.

People need to consider what their priorities are.
the couple from London with a household income of £80k, could afford to save a deposit and buy if they so choose to.
they just haven't planned accordingly

The terminology "Generation Rent" is not a new phenominum.
Prior to the 1980's when the government started selling of council houses, more of the population rented.
Going further back in history, the percentages that rented was even higher.

If we look back in time, we'll probably conclude that the 80's, 90's and 00's presented a unique opportunity for people to be homeowners, prior to that it was the privaledge of the wealthier.

With access to credit restricted, we are simply returning to a "pre 80's" scenario where more people rented.

wotsthat

I caught a bit of it.

I can see the programme makers are trying to humanise the data but where do they get the humans? They must advertise for people with an inflated view of their self-worth but lacking in self-awareness who would really like to get their mugs on TV.

Mr._Pricklepants

I missed it, but did watch Kirsty & Phil on CH4.

nollag2006

IveSeenTheLight wrote: »

People need to consider what their priorities are.
the couple from London with a household income of £80k, could afford to save a deposit and buy if they so choose to.
they just haven't planned accordingly.

Fully agree with this.

I live in Richmond, so know the area quite well. Teddington is probably the most expensive of any of the local towns within a few miles of Richmond.

If they lowered their sights a bit, and moved to Twickenham - they could easily rent out a 2 bed house for well below what they are currently paying, and probably save on the London commute costs too:
http://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION^1368&minPrice=1000&maxPrice=1500&minBedrooms=2&displayPropertyType=houses&oldDisplayPropertyType=houses


This sort of "life is soooo unfair" attitude really grates with me.

If these guys had lived within their means for the past three or four years in a less salubrious area nearby, they could have easily saved £500 per month on a cheaper rental - rather than a twee high end cottage.

This would then have given them the 5% deposit needed for a mortgage for a decent house in that area:
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^1321&minPrice=300000&maxPrice=375000&minBedrooms=2&displayPropertyType=houses&oldDisplayPropertyType=houses&radius=1.0

You need to make sacrifices to buy your first home, but some of these "Generation rent" lot seem to want everything handed to them on a plate.

nollag2006

Here's the link to the show:
https://www.itv.com/itvplayer/tonight/series-17/episode-2-generation-rent