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Debate House Prices


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FTB's need to save for up to 30 years in order to buy a house

24

Comments

  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    Mr._Pricklepants wrote: »
    There are plenty in this situation. Fully able to service monthly mortgage installments (and more, in case rates rise), but can't get the deposit together due to excruciating rent levels.
    But that's where the Help to Buy scheme comes in. :)

    What to get us back to your "historically normal, prudent and sensible"routine.

    Post 8 refers.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    grizzly1911 wrote: »
    Why doesn't the data in table 517 back up this "historically normal, prudent and sensible" message?

    The data in that table shows an average FTB advance of 82% in 2007, and 81% in 1971.

    In other words, it thinks average FTB deposit percentages only changed by 1% in 35 years.

    So if anything, that data completely contradicts the bears assertions that only loose lending caused prices to increase.:)

    Seriously though, I have no idea what that data is, but it's not what you think.

    Average FTB deposit size in 2007 was 11%, not 18%.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    And back to the OP, it's impossible to deny that the fastest way to reduce the years required to save a deposit by 75%, is to reduce the deposit size from 20% to 5%.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    HAMISH_MCTAVISH wrote: »
    The data in that table shows an average FTB advance of 82% in 2007, and 81% in 1971.

    In other words, it thinks average FTB deposit percentages only changed by 1% in 35 years.

    So if anything, that data completely contradicts the bears assertions that only loose lending caused prices to increase.:)

    Seriously though, I have no idea what that data is, but it's not what you think.



    Government statistics eh, can't be trusted.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Seriously though, I have no idea what that data is, but it's not what you think.
    .

    Muddled sentence of the year award!
  • Percy1983
    Percy1983 Posts: 5,244 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    And back to the OP, it's impossible to deny that the fastest way to reduce the years required to save a deposit by 75%, is to reduce the deposit size from 20% to 5%.

    Or the 10% which is already there... ;)
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    Muddled sentence of the year award!

    Muddling again Graham.

    How about addressing the facts for once....
    HAMISH_MCTAVISH wrote: »
    And back to the OP, it's impossible to deny that the fastest way to reduce the years required to save a deposit by 75%, is to reduce the deposit size from 20% to 5%.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Percy1983 wrote: »
    Or the 10% which is already there... ;)

    Yet Shelter quotes 20% as being required.

    Perhaps you should tell them (and graham) their calculations for the years required to save a deposit are exaggerated by 100% then?
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • danothy
    danothy Posts: 2,200 Forumite
    Part of the Furniture Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Seriously though, I have no idea what that data is, but it's not what you think.
    Graham_Devon wrote: »
    Muddled sentence of the year award!

    Seems clear to me. He doesn't know what it is, but he know's what it isn't.
    If you think of it as 'us' verses 'them', then it's probably your side that are the villains.
  • Mr._Pricklepants
    Mr._Pricklepants Posts: 1,311 Forumite
    While the average spend on a UK wedding is >18K, I can't get too teary eyed about today's FTB deposit requirements.

    http://www.telegraph.co.uk/finance/personalfinance/10072716/Average-wedding-now-costs-more-than-18000.html
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