Frustrated young person

pioneer22

I feel so sorry for people aged 30 and under who have been priced out of the market. I cant seem to understand why people are so happy about house price rises? It seem so unfair, especially if younger people are struggling to save for a deposit and when we live in a world of zero hour contracts.

What doesn't help is the media causing a divide between the old and young generation.

Is this ever going to resolve itself?

IanW1983

It depends what people want to buy and where I guess. I bought my home in 2009 (aged 26) on a below average wage on my own. I simply sold my flash car, got myself a tatty diesel and stopped spending on unnecessary items. It's not a palace but I call it home!

pioneer22

IanW1983 wrote: »

It depends what people want to buy and where I guess. I bought my home in 2009 (aged 26) on a below average wage on my own. I simply sold my flash car, got myself a tatty diesel and stopped spending on unnecessary items. It's not a palace but I call it home!

I've never had a car and worked 60-70 hours a week to buy our house took about 10 months. But I am concerned about moving up the ladder now. Im not bothered about this house rising in price just that it doesn't go down so we can use the money we have paid as a deposit for the next place. Not going to be able to do that if prices keep going up.

System

My parents couldn't afford their first house until they were nearly 40 and that was in the mid 60s so it isn't a new phenomenon. What is new is the expectation that you can have your cake and eat it by the time you are 25

pioneer22

!!!!!! wrote: »

My parents couldn't afford their first house until they were nearly 40 and that was in the mid 60s so it isn't a new phenomenon. What is new is the expectation that you can have your cake and eat it by the time you are 25

That is a good point, but when you spend a lot of money renting and a hell of a long time in education studying and then working you will want something to show for it dont you think?

Perhaps I'm ageist

Moto2

pioneer22 wrote: »

That is a good point, but when you spend a lot of money renting and a hell of a long time in education studying and then working you will want something to show for it dont you think?

Perhaps I'm ageist

People have always studied and worked hard, I'm not sure any entitlement naturally comes with that.
It's not easy now to have the means to get a mortgage and that's unfortunate.
It's been like that for most of the time since the war though so nothing new really. I do think its time though to give tax relief at source for the early years on a FTB mortgage, funded from higher up the food chain somewhere.

the_flying_pig

!!!!!! wrote: »

My parents couldn't afford their first house until they were nearly 40 and that was in the mid 60s so it isn't a new phenomenon. What is new is the expectation that you can have your cake and eat it by the time you are 25

your profile name is brilliant, i offer you high five for that, but the actual content of your post is highly dubious. you seem to be suggesting that [e.g.] FTB ages haven't got higher in the last 50 yrs???

bristol_pilot

This isn't a new phenomenon...I had to live in shared accommodation for years and take a job up north to get my first place in the late 1980s. Apart from brief periods in the 1970s and early 2000s it's pretty much always been a struggle to buy one's first place, especially if not part of a couple with 2 incomes.

grizzly1911

the_flying_pig wrote: »

your profile name is brilliant, i offer you high five for that, but the actual content of your post is highly dubious. you seem to be suggesting that [e.g.] FTB ages haven't got higher in the last 50 yrs???

Wind the clock back to the 70s (and earlier) many more would have been working in jobs, with a chance of prospects from 15/16-18, with less consumer debt. These days it may be mid 20s with a lot more debt after uni.

Not surprising the clock is being delayed.

There is more to the story.

Edit: my father was 37 when my parents purchased their first house, in late 50s, having first lived in two rooms and then a council maisonette.

System

the_flying_pig wrote: »

your profile name is brilliant, i offer you high five for that, but the actual content of your post is highly dubious. you seem to be suggesting that [e.g.] FTB ages haven't got higher in the last 50 yrs???

If you say so.

My father was born in 1928 and my mother in 1929. We moved out of my grandmother's house and in to our first house in 1966. Which bit of that is dubious?

I can show you their birth certificates and probably with a lot of digging the deeds for their first house. As a matter of interest it was bough from my other grandparents. I don't know whether they got it cheap or paid the market value - I was only 10 at the time.

I'm not sure where you are from but in the SE Wales valleys it was fairly common. To my knowledge at least 4 of my friends at that time were still living with one of their grandparents.

the_flying_pig

!!!!!! wrote: »

If you say so.

My father was born in 1928 and my mother in 1929. We moved out of my grandmother's house and in to our first house in 1966. Which bit of that is dubious?

I can show you their birth certificates and probably with a lot of digging the deeds for their first house. As a matter of interest it was bough from my other grandparents. I don't know whether they got it cheap or paid the market value - I was only 10 at the time.

I'm not sure where you are from but in the SE Wales valleys it was fairly common. To my knowledge at least 4 of my friends at that time were still living with one of their grandparents.

i've no idea what you're talking about.

the average age has gone up. this is very obviously not the same thing as saying that no 'older' people ever were FTBs back in the day.