Generation Rent. Thousands more young stuck in rental sink hole. No hope on horizon

Cornucopia

Carl31 wrote: »

£100k for a flat? where? Hastings?

I havent seen a £100k flat in our area for years

Medway.

In fact, Rightmove is showing 1000+ properties with 1-2 beds, between £80k & £110k within 30 miles of London. (775 of which are within 20 miles of London).

Dunroamin

Carl31 wrote: »

£100k for a flat? where? Hastings?

I havent seen a £100k flat in our area for years

Then someone starting out should be looking at a different area.

chucky

Dunroamin wrote: »

Then someone starting out should be looking at a different area.

Yes and not [STRIKE]spamming[/STRIKE] starting numerous threads complaining that houses are unaffordable.

John1993_2

michaels wrote: »

Mostly true but hasn't the govt borrowed money to provide support to the banks, and in which case isn't interest being paid on these borrowed funds? Eventually the investment in the banks may pay back both the capital invested and the interest on the monies but the jusy is still out on that I think.

Yes, there may still be a small cost, but it's not known yet. May be small, may be zero, or may be a small profit.

We'll see, but no-one's grounds to whine that they bailed out the banks with their taxes yet. It did not happen.

John1993_2

Carl31 wrote: »

£100k for a flat? where? Hastings?

I havent seen a £100k flat in our area for years

http://www.rightmove.co.uk/property-for-sale/property-40423843.html

Theres one for under £50k...

Loughton_Monkey

John1993 wrote: »

http://www.rightmove.co.uk/property-for-sale/property-40423843.html

Theres one for under £50k...

But surely you realise that even that property is "unaffordable".

Or at least an 18 year old with no savings and on minimum wage still couldn't afford it. Perhaps you haven't realised that many people here seem to use this sort of definition for 'affordability'.

chucknorris

Loughton_Monkey wrote: »

But surely you realise that even that property is "unaffordable".

Or at least an 18 year old with no savings and on minimum wage still couldn't afford it. Perhaps you haven't realised that many people here seem to use this sort of definition for 'affordability'.

I've just had to explain to my dog that he too can't afford it, he doesn't have enough cash and I don't think that dogs can get mortgages. He is going to have to continue sponging off me for now.

John1993_2

Loughton_Monkey wrote: »

But surely you realise that even that property is "unaffordable".

Or at least an 18 year old with no savings and on minimum wage still couldn't afford it. Perhaps you haven't realised that many people here seem to use this sort of definition for 'affordability'.

It's clearly not real, anyway. We were told above that flats like this don't exist. Who I am I going to believe, Carl31, or my lying eyes?

lazer

Maybe young people should jsut continue to live with their parents like the baby boomers did

All 12 of my aunts and uncles remained living at home until they got married - but that seems like an alien concept now, to both the parents and children, and for their children (Ie - me & my cousins - aged range 3 - 40), the only ones that have moved out of home before marriage or moving in with partners are those that went to university. Some will probably stay livng at home and will look after their parents in old age too.

Modern Life has become way to much about money, and "bragging rights" - ie: if you are still living at home at 25 never mind 40 nowadays people seem to think it is strange - whereas I think its sensible.

John1993_2

lazer wrote: »

Maybe young people should jsut continue to live with their parents like the baby boomers did.

They could also meake sure that they get the qualifications and the skills needed to be able to earn a good living, and then do whatever it takes to make it in their chosen career.

I'd hope that nearly any couple could scrape together the means to buy that flat in Hastings that I posted up above. If you want, instead, a four bedroom house in the nicest street in town, with a new Porsche parked outside, then it's going to take both planning and effort to achieve.

I think that most of us could see ourselves in a better place in a few years time. Some of us are working out how to make that happen, and some are complaining that it's all too hard, and not fair.