It's Friday night and I am renting

floridaman

Up and down the country young people are forced into private rents. When will this madness end. While I admit the older generation have worked hard they must admit the younger ones have it harder. This country must allow house prices to come in line with wages.

CLAPTON

floridaman wrote: »

Up and down the country young people are forced into private rents. When will this madness end. While I admit the older generation have worked hard they must admit the younger ones have it harder. This country must allow house prices to come in line with wages.

yes, your generation must build a lot more houses

R_P_W

floridaman wrote: »

Up and down the country young people are forced into private rents. When will this madness end. While I admit the older generation have worked hard they must admit the younger ones have it harder. This country must allow house prices to come in line with wages.

Why is renting bad?

What part if the country do you live?

laurel7172

I bought my first house, with a 100% mortgage, in 1989.

The chances are that at your age, I would have been posting "It's Friday night and I'm in negative equity." I envied renters.

I do therefore have experience of the feeling that one is in a financial black hole with no prospect of ever seeing the light.

But, slowly, the light does dawn. And it isn't because you're lucky or clever, it's because you get older and you've had more years to save/improve your job prospects/ride out a difficult time in the economy. Even when you have to save for years just to get back to zero, as many people my age did.

It has always been tough for the young. But all things, including youth, do pass. You'll get there financially. Don't waste your youth fretting over what you haven't yet got.

thequant

floridaman wrote: »

Up and down the country young people are forced into private rents. When will this madness end. While I admit the older generation have worked hard they must admit the younger ones have it harder. This country must allow house prices to come in line with wages.

Thinly veiled, "I'm on the minimum wage"

Fieldsofgold

floridaman wrote: »

Up and down the country young people are forced into private rents. When will this madness end. While I admit the older generation have worked hard they must admit the younger ones have it harder. This country must allow house prices to come in line with wages.

Young people have always rented, it's what young people do.

denvore

R_P_W wrote: »

Why is renting bad?

I would also like to know the answer to this question.

I do not post very often on here, but I do read the forum quite regularly and there does seem to be a general opinion that renting is bad and that owning is the ultimate goal to achieve at any cost - to not be a homeowner is seen by many as being a failure.

I would totally disagree with this. We are in a position where we could buy (and in fact have been homeowners in the past). However, we currently rent and we are very happy. We like the relative freedom that renting affords as well as the lack of financial commitment and hassle. Roof needs fixing? Call the landlord; Boiler needs servicing? Call the landlord; etc, etc.

Having said that, we are in a good position with a decent landlord (to date anyway) and currently occupy a home where the rent is lower than the mortgage would be for a similar property (even with a good sized deposit), so perhaps we are a rare exception in that sense.

I suppose the renting-vs-owning debate is just a matter of personal circumstance/preference. Some people prefer the security and social status home owning provides, whereas others like the ease of being a tenant; preferring to invest their savings in other ways.

floridaman

Renting is bad because it's dead money

ruggedtoast

denvore wrote: »

I would also like to know the answer to this question.

I do not post very often on here, but I do read the forum quite regularly and there does seem to be a general opinion that renting is bad and that owning is the ultimate goal to achieve at any cost - to not be a homeowner is seen by many as being a failure.

I would totally disagree with this. We are in a position where we could buy (and in fact have been homeowners in the past). However, we currently rent and we are very happy. We like the relative freedom that renting affords as well as the lack of financial commitment and hassle. Roof needs fixing? Call the landlord; Boiler needs servicing? Call the landlord; etc, etc.

Having said that, we are in a good position with a decent landlord (to date anyway) and currently occupy a home where the rent is lower than the mortgage would be for a similar property (even with a good sized deposit), so perhaps we are a rare exception in that sense.

I suppose the renting-vs-owning debate is just a matter of personal circumstance/preference. Some people prefer the security and social status home owning provides, whereas others like the ease of being a tenant; preferring to invest their savings in other ways.

A renter who likes renting is like the turkey crammed into a battery cage who only gets to come out when a man in a rubber glove manually stimulates it into producing turkey jizz and then shoves it back in until it eventually gets basted for Christmas.

Or in other words. Misguided.

N1AK

Successfully blocked floridaman.

Obvious troll is obvious.

Bit disappointed that this many people are feeding you given the poor quality of your troll attempts.

Macca83_2

CLAPTON wrote: »

yes, your generation must build a lot more houses

To make up for the fact that your generation sold off a lot of the affordable housing in the eighties?