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Time for a new generation to enjoy same opportunities as their parents...
Comments
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It certainly isn't "practically impossible". Of the 30-40 people I know and consider friends who are between 30 and 35 all but 2 couples I can think of own their own house, and that's in the south east.
I'm ever so sorry to hear your son may have to be educated with the normal kids though.
Well, I own my own house (OK it is mortgaged but who isn't at my age?). However, I cannot see us having the means to buy the type of house my parents did. I am very fortunate in that I will end up owning the beautiful house that my parents currently do, though I am also aware not everyone is anywhere near as fortunate as I.THE_MASKED_TURNIP wrote: »Absolutely nothing wrong with State education. Your comment and fact of near 33k debt makes me believe that the youth of today suffer from delusions of grandeur and self entitlement.
Admittedly I've got myself into debt through stupidity. That fact should not mean my son suffers as a result.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
JencParker wrote: »I appreciate it is very different across the country, but I live in Greater London and there is a shortage in and around London and is spreading as people move further out as London properties are bought by foreign investors and for BTL or they are downsizing.
I can appreciate that it may be different in London.
2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
It certainly isn't "practically impossible". Of the 30-40 people I know and consider friends who are between 30 and 35 all but 2 couples I can think of own their own house, and that's in the south east.
I'm ever so sorry to hear your son may have to be educated with the normal kids though.
They do say you mix with your own circles. So it would be of no surprise to you to hear that I have the opposite experience. Most of those I still know ho I went to school with rent, rather than having bought.
To be fair, I only know the ones who stuck around. Some who moved to London may be doing differently. But for those who stuck down here for a variety of reasons....or came back after uni.....the majority don't own.
We should be careful not to extrapolate a tiny handful of people we mix with across the UK.0 -
Graham: I know few who rent. However, we all have extortionate mortgages and wonder how on earth we are going to move out of our first (bought) home. I am the exception in that respect as my parents had me very late, thus wish to downsize.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Graham_Devon wrote: »Hang on? Hamish? Are you saying today's generation didn't have it as easy as their parents?!
I'm saying that mortgage rationing and the abnormally high % deposit required for the last few years has been the biggest factor by far in why the young have been unable to buy.
Fortunately, that is now ending.
As the government/BOE are repairing the broken mortgage market and restoring availability of mortgages with historically normal, prudent, and sensible 5% deposits.That's a turn around old chap!
LOL.
Your muddling knows no bounds. :money:
I see you've completely glossed over the Treasury report showing the average deposit for FTB-s 30 years ago was 5% though. “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”0 -
Do you think other major cities of the world have cheap property; New York, Tokyo, Paris, Madrid, Singapore, Hong Kong to name but a few are as bad or even worse...JencParker wrote: »I appreciate it is very different across the country, but I live in Greater London and there is a shortage in and around London and is spreading as people move further out as London properties are bought by foreign investors and for BTL or they are downsizing.
It's always good to see the world instead of reading what people post on Internet forums...0 -
Graham_Devon wrote: »We should be careful not to extrapolate a tiny handful of people we mix with across the UK.
Yes that's the point I was making to Alex.
However, on closer inspection of the thread, Alex is hard done by because he can't own a million pound house or send his kids to private school. I can't really relate with that either if I'm honest.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Graham_Devon wrote: »Hang on? Hamish? Are you saying today's generation didn't have it as easy as their parents?!
That's a turn around old chap!
Where did he say that?0 -
Do you think other major cities of the world have cheap property; New York, Tokyo, Paris, Madrid, Singapore, Hong Kong to name but a few are as bad or even worse...
It's always good to see the world instead of reading what people post on Internet forums...
I'm thoroughly aware of that. It doesn't make it right or a good thing.0 -
Where did he say that?
I didn't.
Graham likes to make stuff up when he's being comprehensively trounced by reality.“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”0
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