Boomers' House Price Bonanza Barrels Onwards. Young Excluded and Forgotten

ruggedtoast

http://news.sky.com/story/1134562/shelter-1-8m-priced-out-of-housing-market

Almost two million families in the UK are unable to climb on to the property ladder and are being forced to rent according to new research.

Charity Shelter says that rising house prices have created a generation of 'forgotten families' and that the Government's Help to Buy scheme is still leaving many people priced out of the market.

The study revealed that millions of middle-income families earning between £20,000 and £40,000 could find themselves stuck on the first rung of the property ladder or facing the prospect of years of private renting.

It says monthly mortgage repayments on a family-sized home are simply too much for those on low or average salaries.

Shelter said: "This means that the only option for many will be years spent bringing up children in private lets, paying out dead money in rent and facing the insecurity of short-term tenancy contracts of just six or twelve months."

It comes as a report by the Royal Institute of Chartered Surveyors showed house prices were rising at their fastest rate in seven years.

Having found that 95% of families on low or middle incomes could afford mortgage repayments for a shared ownership home, Shelter is now calling for a major new house building programme.

It says an investment of £12bn could build 600,000 new shared ownership homes.

But housing minister, Mark Prisk argues the Government is already doing this.

He said: "Shelter's report fails to take into account the billions of pounds we're investing to getting Britain building, leading to the fastest rate of affordable house building for two decades, on top of the 19,000 shared ownership homes we've delivered over the past two years."

Kay Boycott, director of campaigns and policy at Shelter said: "So far, years of piecemeal policies and an alphabet soup of confusing schemes have meant that shared ownership has failed to reach its potential, leaving it nowhere close to meeting the needs of England's forgotten families."

She added: "For the many young people desperate to do what generations have before them and find a stable home of their own, a national shared ownership programme is the bold and radical solution we need."

Some NIMBYs react to the prospect of desperately needed homes being planned near their idyll



500 new homes is 501 too many according to these householders


Young graduates wonder how many 18 hour days they will have to pull in some stupid spoiled celebrity chef's restaurant to pay the rent on their shared room that month

Graham_Devon

LOL shelter sstates we need to build 600,000 houses and the housing minister says "we already are, we build 9,500 of them a year"!

antrobus

Deja vu all over again.:)

https://forums.moneysavingexpert.com/discussion/4751137

Rinoa

antrobus wrote: »

Deja vu all over again.:)

https://forums.moneysavingexpert.com/discussion/4751137

Indeed.

Just a one trick pony.

CLAPTON

interesting photos

certainly in the first one, many of the marchers seem to be a little young to be boomers?
perhaps it's a picture of them 20-30 years ago practicing to be nimbys

PasturesNew

Dunno why people blame boomers... anybody doing the blaming has boomers as parents .... so why not phone up your mum/dad and have a go at them.

The blame is elsewhere..... not in some stereotyped group that's got a handy name.

Maz

Christ RT, give it a rest, eh? Your embittered ranting has long gone beyond boring.................zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Loughton_Monkey

Perhaps because I'm a boomer, I've lost touch. But my impression of 'Shelter' was of a charity somewhat like the Sally Army to champion the cause of wino's and ne'erdowells who were homeless, and living in cardboard boxes under Waterloo Bridge.

Seems they have gone rather upmarket, and are now championing the cause of middle class property owners... stuck inside the hovel of a FTB house with nowhere else to go....

The study revealed that millions of middle-income families earning between £20,000 and £40,000 could find themselves stuck on the first rung of the property ladder or facing the prospect of years of private renting.

The article is so crass and stupid that I note that Shelter will not name any person within Shelter to whom it can be attributed. 600,000 homes at £20K a pop under a 'shared ownership' scheme? You can hardly build a Nissen hit with that!

Even if Prisk actually did what was suggested, it would take the proverbial 5 minutes before Shelter were bleating about people forced to live like pigs, battery hens, sheep....

Shelter? Get the flock out of here!

John1993_2

Ruggedtoast, what have you done today to try to improve your career prospects and earning potential? What did you do yesterday?

I know no-one who cannot afford a decent home, no-one, and I know hundreds of people. If you want to earn enough to buy a nice house, it's easily doable, you just need to put in some effort.

If you did that instead of whining on here, you'd be fine.

MacMickster

PasturesNew wrote: »

Dunno why people blame boomers... anybody doing the blaming has boomers as parents .... so why not phone up your mum/dad and have a go at them.

The blame is elsewhere..... not in some stereotyped group that's got a handy name.

I suspect that if any of today's embittered youth actually bothered to sit down and discuss the issue with their boomer parents, they would find that many of the boomers were prepared to make much bigger sacrifices in order to buy their first home.

Had they insisted that they were entitled to an average family home in a good area, nicely furnished and decorated from the outset and with money to spare for socialising and holidays, then I suspect that they would now be bemoaning their lot on an obscure internet forum rather than enjoying the fruits of their initial sacrifices.

seven-day-weekend

We bought a terraced house just outside the city centre in 1976 when we were in our twenties.

We still live in that house now.

What exactly is wrong with being 'stuck on the first rung of the property ladder'? It's not compulsory to live in a four bedroom detached in a rural idyll!