The crushing housing burden on the young. Boomers, investors and landlords profit

[Deleted User]

[QUOTE=Jack_Johnson_the_acorn;62813178_so_long_as_they're_willing_to_live_in_an_average area.[/QUOTE] that isn't anywhere near the M25 'area of overpriced homes'

I took a peek at some homes up north in areas I knew.. It made me rather sad when I found something like this, in walking distance to good public transport links:

http://www.rightmove.co.uk/property-for-sale/property-24483447.html?backListLink=%2Fproperty-for-sale%2Fmap.html%3FlocationIdentifier%3DREGION%255E904%26insId%3D1%26maxPrice%3D200000%26minBedrooms%3D2%26maxBedrooms%3D2%26displayPropertyType%3Dhouses%26oldDisplayPropertyType%3Dhouses%26radius%3D10.0%23_includeSSTC%3Don%26auction%3Dfalse%26displayPropertyType%3Dhouses%26locationIdentifier%3DREGION%255E26735%26maxBedrooms%3D4%26maxPrice%3D100000%26minBedrooms%3D3%26oldDisplayPropertyType%3Dhouses%26previousSearchLocation%3DWhitefield%26radius%3D0.25%26searchLocation%3DWhitefield%26searchType%3DSALE%26useLocationIdentifier%3Dfalse%26box%3D-2.33044%2C-2.27241%2C53.53736%2C53.56612%26popupPropertyId%3D24483447&fromMap=true

Most of the UK is affordable. It just happens to be the bit where the population density is highest (and has a very large quantity of educated young people)

Jack_Johnson_the_acorn

GwylimT wrote: »

I know people who live in London and moan that houses cost less 'up north' yet completely ignore the fact that wages are generally lower and there aren't as many employment opportunities. I have friends who genuinely believe living in the region I live can leave you with a hefty amount of money after your rent to save a deposit in no time, they always like yeah you're flat only costs £600 a month you've got loads left, erm, people here also have electricity bills, gas bills, water bills, we have to buy this stuff called food and most of us have to pay for some form of transport whether a car or public transport.

Thedalmeny, care to tell me how I could save a deposit for a property on £17K a year in Leeds while paying rent, utilities etc?

1, be skilled at something and you'll earn more....
2, £600 rent for a single person up north sounds like a lot to me... my mortgage is 550 for a 3 bed maisonette...
3, cut back on none essentials...
4, cycle to work...
5, sacrifice sacrifice sacrifice

Cornucopia

ringo_24601 wrote: »

that isn't anywhere near the M25 'area of overpriced homes'

Except that we've already shown otherwise - affordable property that is commutable to London.

I'll ask again, since no one's ventured an answer so far - if people believe property (in London) is over-priced, how much should it be?

the_flying_pig

Cornucopia wrote: »

Except that we've already shown otherwise - affordable property that is commutable to London.

I'll ask again, since no one's ventured an answer so far - if people believe property (in London) is over-priced, how much should it be?

In an ideal world maybe about the same price that it was say 10 or so years ago would be really nice?

Failing that the five years ago price woul be great, too.

Jack_Johnson_the_acorn

the_flying_pig wrote: »

In an ideal world maybe about the same price that it was say 10 or so years ago would be really nice?

Failing that the five years ago price woul be great, too.

we'll just pretend that inflation doesn't exis t....:D

GwylimT

Jack_Johnson_the_acorn wrote: »

1, be skilled at something and you'll earn more....
2, £600 rent for a single person up north sounds like a lot to me... my mortgage is 550 for a 3 bed maisonette...
3, cut back on none essentials...
4, cycle to work...
5, sacrifice sacrifice sacrifice

I am skilled, I'm a vehicle mechanic and at the moment I teach vehicle mechanics at an FE college. £600 is actually a mortgage, rent would be more, I'm being theoretical (we can only afford this home as my wifes grandmother passed away a few years ago and we had considerable inheritance). We don't buy any none essentials, the only reason we have the internet is because it is vital for my job.

I already cycle to work, have done for a very long time. Couldn't sacrifice anymore, no TV, no holidays, don't eat out, don't have nights out, only go on day trips when there are special offers. If we didn't have inheritance (and lets face it, we would rather her gran was still alive) paying rent would be difficult, there would be nothing left to save for a mortgage or even as an emergency fund.

People on decent wages cannot afford to rent and it is worrying, I earn well above the minimum wage, but we are in an awful situation when someone earning minimum wage cannot afford to rent a home and pay their utility bills without help from housing benefit.

Lets say I wasn't skilled, how could someone on that either afford to drop their wages, or attend university? Even when I was younger and I'm only in my early forties you could train on the job and earn a wage and so if you did change career you wouldn't suffer financially, now you just cannot do it without help or unless you have hefty savings in the bank to fall back on.

thedalmeny

Below illustrates in comparison with London.

I'm getting sick of articles which make some bold claims how the whole country is affecting - when in reality it's mainly a problem indicative of Greater London... In the same way it's a problem for every major capital city, particular ones top in the league tables.

Despite having a higher average salary, due to the higher average cost of rent you get no financial benefit living in London.

Time for a move up NARTH for you all!

antrobus

....Who, in these times of zero-hours contracts still believes that the unemployed, the poor, the young, are simply not working hard enough?....

Oh the irony!

Guess which national newspaper makes extensive use of zero-hour contracts for its staff?

Thrugelmir

GwylimT wrote: »

I know people who live in London and moan that houses cost less 'up north' yet completely ignore the fact that wages are generally lower

Work in the NHS and the pay is a national scale.

Friends of mine live in Halifax and are exceedingly comfortable. No desire to own an expensive property either.

thedalmeny

GwylimT wrote: »

I am skilled, I'm a vehicle mechanic and at the moment I teach vehicle mechanics at an FE college.

Yet you earn below, far below, the average wage for your region.

I'm sorry but not everybody is going to be able to afford to buy a property - but what we should do is ask whether the average person for that region can.. Which they can, so the property market and life in general really isn't that tough in my opinion.