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

the_flying_pig

Jack_Johnson_the_acorn wrote: »

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

Uh, we'll pretending that RPI or CPI was zero over the 10 yr period would be a heck of a lot nearer the mark than pretending that London HPI was equal to RPI or CPI over the same.

Or that, over the five year period, that HPI bore anything even vaguely approximating to wage inflation.

GwylimT

ringo_24601 wrote: »

Better? http://www.rightmove.co.uk/property-for-sale/property-20664777.html

To be honest, if you are a skilled craftsman, you need to look for positions higher than £17k. Heck, you could work at a primary school, rather than a FE college, and you'd be on a better salary.

Now, consider that if you moved that to my village, they'd suddenly want £300k for it. Now you might have an idea of why it's even tougher in the South

Here's the closest to me like that as an equivalent: http://www.rightmove.co.uk/property-for-sale/property-39060325.html?premiumA=true

I'm not saying life isn't hard for you and your wife - but, if you were earning an average wage, it wouldn't be unbearable.

Slightly, bathroom wouldn't be big enough for a wetroom and looking at the floor plan we wouldn't have room in the master bedroom for a double bed and for my wife to get in with her wheelchair and winching area to get her in.

Don't think primary schools teach vehicle mechanics! If we imagine I can teach in a primary I would earn less as a part time teacher in a primary than I currently do and part time positions are far harder to find.

thedalmeny

Look at the ONS Earnings report for 2012;

http://www.ons.gov.uk/ons/rel/ashe/annual-survey-of-hours-and-earnings/2012-provisional-results/stb-ashe-statistical-bulletin-2012.html#tab-Earnings-by-age-group

22-29 age bracket is just below the average weekly income
30-39 age bracket is just above the average weekly income

Beg to reason 25-35 is likely where most reach the average earnings according to the ONS.

Average first time buyer last year was 35, the average first time buyer in 1992 was 28.

Either way, both ages are in or above what is considered the range for an average earner.

[Deleted User]

GwylimT wrote: »

Slightly, bathroom wouldn't be big enough for a wetroom and looking at the floor plan we wouldn't have room in the master bedroom for a double bed and for my wife to get in with her wheelchair and winching area to get her in.

Don't think primary schools teach vehicle mechanics! If we imagine I can teach in a primary I would earn less as a part time teacher in a primary than I currently do and part time positions are far harder to find.

It sounds more and more that you need to find some appropriate council housing then..

I guess you're a part-time carer for your wife; and that's why you're part time at the college?

There are very few part-time jobs that will pay a salary (unless you progress through a career then drop your hours down)

Jack_Johnson_the_acorn

GwylimT wrote: »

Slightly, bathroom wouldn't be big enough for a wetroom and looking at the floor plan we wouldn't have room in the master bedroom for a double bed and for my wife to get in with her wheelchair and winching area to get her in.

Don't think primary schools teach vehicle mechanics! If we imagine I can teach in a primary I would earn less as a part time teacher in a primary than I currently do and part time positions are far harder to find.

you're not average if you have all these extra requirements
... plus you're earning less than the average. a 2 bed flat up north is about 450 in an avg area.

GwylimT

ringo_24601 wrote: »

It sounds more and more that you need to find some appropriate council housing then..

I guess you're a part-time carer for your wife; and that's why you're part time at the college?

There are very few part-time jobs that will pay a salary (unless you progress through a career then drop your hours down)

Have you seen the rents on council bungalows? If we were to rent a council bungalow here it would be £120 a week for a two bed for the rest of our lives, you rarely get one beds as so many tenants need over night carers to stay so wouldn't downsize in old age. So if we could get rehomed we would be paying £120 every week until we popped our clogs, or we could pay approximately £120 more each month for our flat and be mortgage free in two years.

Yes I'm a part time carer and our son was born quite ill and so we suddenly had to moved from West mid Wales to Leeds, otherwise we would be driving to and from Leeds everyday, meaning our daughter would either be up at crazy hours, or she would have to stay with someone and virtually never see us.

I also work part time as we have a daughter and the cost of childcare would make it too costly to work full time, however in September my wifes work contract finishes and so then I will be full time. However as we will then only have one tax free allowance we will be worse off financially than we are now, especially as at the minute we only need to pay for a carer two days a week which her DLA almost covers, but then we will need to pay for a carer to come in five days a week.

ruggedtoast

CLAPTON wrote: »

lets take Romford, Chadwell Heath, Elm Park all on the District line into London


one bed flats under 100k

http://www.rightmove.co.uk/property-for-sale/property-39459353.html

http://www.rightmove.co.uk/property-for-sale/property-41321756.html


two bed flat under 125,000

http://www.rightmove.co.uk/property-for-sale/property-26244333.html



http://www.rightmove.co.uk/property-for-sale/property-40579223.html



3 bed house for under 250,000


http://www.rightmove.co.uk/property-for-sale/property-39993052.html


http://www.rightmove.co.uk/property-for-sale/property-41130311.html?premiumA=true



Obviously these are working class areas where no guardian writer has every been
but real people live here all their lives.

The first flat you listed is a retirement property. The other is a pokey uni-bedroomed dive in Romford for a £100k, the 2 bed ones look horrific, are also in Romford and would cost 6 x salary for most people who live in Romford.

The last one is a quarter of a million quid for a bungalow. In Romford, where a one month season ticket into London costs over £200 incidentally.

So basically someone earning 30k a year and commuting to London can just about aspire to buying a miserable slave box in a council estate in a phenomenally grim area where their kids can sleep in the bath and go to some of the worst schools in the country.

Great.

ruggedtoast

Loughton_Monkey wrote: »

Trying to be helpful as ever, I looked up my own postcode. Nearest I could get, sadly, was £200K

http://www.rightmove.co.uk/property-for-sale/property-39909062.html

Still, it will provide a very decent home.... for your Ferrari

I couldn't believe they could ask for so much, then I read the particulars and saw that it has up and over doors.

ash28

Loughton_Monkey wrote: »

Trying to be helpful as ever, I looked up my own postcode. Nearest I could get, sadly, was £200K

http://www.rightmove.co.uk/property-for-sale/property-39909062.html

Still, it will provide a very decent home.... for your Ferrari

Behave yourself....that's for 30 garages not one.....so all of your Ferraris can be housed.

£1275 a month rental income from them.......

Loughton_Monkey

ash28 wrote: »

Behave yourself....that's for 30 garages not one.....so all of your Ferraris can be housed.

£1275 a month rental income from them.......

Well spotted. But you'll notice No 36 is 'vacant' and so capable of being rented out to a family of 6, on £500 pw housing benefit.