Are home owners happy that prices rise and price out young

chucky

ABetterLife wrote: »

Did it still depend on the council? My council is notoriously bad. Also, I'm only entitled to a 1 bedroom and apparently my daughter and I can share until she's 10 years old, yet I know people from other councils who were permitted to bid for a 2 bedroom if they were pregnant.

Why do you have a bad credit record?

carslet

to answer the question , no I am not happy about it, prices are far too high, but on the other hand i dont see them falling or a crash happening and i feel renting is dead money, hence why i bought

ABetterLife

chucky wrote: »

Why do you have a bad credit record?

Because;

A) 20 so haven't got an extensive history yet.

Defaulted on a Lloyds overdraft.

C) Not on electoral register yet.

I wouldn't describe it as bad, perse. Poor, perhaps.

ABetterLife

ringo_24601 wrote: »

Hence my missus doesn't do extra hours, but plenty of the junior nurses are single and family-free.. so they do.

Bank shifts at weekends are popular since you don't need to sort childcare out if you've got a partner

I get you :-)

IveSeenTheLight

CreditCrunchie wrote: »

Home owners per se are not the problem, that is down to the buy to let landlords who snap up absolutely everything as soon as it comes onto the market!

BTL is not the problem as it has been proven to only partially fill the gap created by the RTB sell off.

The problem is a lack of new supply

IveSeenTheLight

CreditCrunchie wrote: »

I'd like to point out that first time buyers aren't always young. We are in our early 30's and wanting to start a family. O

Is that you Brit?

What have you been doing with the last 10 years or so joint wages?

I got married at 27 and had saved with my girlfriend and bought before we got married (2 bed)

By the time we had kids in my mid 30's, we had a 4 bed house.

Don;t complain if you decide to start late.

IveSeenTheLight

w00519772 wrote: »

I don't think anyone really wants house price rises. If you sell a house to move on then you have to buy at a higher price as well (your next house costs more). Everyone loses, not just first time buyers, though first time buyers like me are hit hard.

Actually, I found it easier to move up the chain in a rising market than I would have in a stagnant / falling market.

IveSeenTheLight

92203 wrote: »

Have you got any data to back this up?

From the data I've seen, house price: earnings ratios were much lower, to the point that the typical FTB would have been better off in the mid - late 90s.

You have pre-selected the very bottom of the 90's cycle.
This is to make your point.

However the following data shows that: -

MORTGAGE REPAYMENTS AS A PERCENTAGE OF INCOME in 1997 averaged 26.5%

MORTGAGE REPAYMENTS AS A PERCENTAGE OF INCOME in 2013 averaged 27.0%

Therefore affordability is similar now to the lowest point of the previous cycle

IveSeenTheLight

CLAPTON wrote: »

I will leave everything equally to my children and allow them to decide what to pass on to their own children as I trust them
and this allows me to give what I like to my favourite

I have two kids and my will is to share equally among them (assuming my wife has also passed away)

I do have it written in that if any of my children have children then my kids share is then split further amongst the grandchildren.

For example

Child 1, no kids = 50%

Child 2, 1 kid = 40% to child and 10% to grandchild
Child 2, 2 kids = 30% to child and 10% to each grandchild
Child 2, 3 kids = 20% to child and 10% to each grandchild
Any more kids then the child remains 20% with the grandchildren splitting equally the remaining 30%

I've also included that the estate funds goes into a trust to care for them until they are 25 to ensure they are able to go through education fully and to ensure they have a bit of life experience before they have free access to the funds.

Now I know some may cite that it's unfair with Child 1 having a larger bulk, but it is intended in that way so that if they decide to have family later in life, they can provide fir their future family.

chucky

ABetterLife wrote: »

Because;

A) 20 so haven't got an extensive history yet.

Defaulted on a Lloyds overdraft.

C) Not on electoral register yet.

I wouldn't describe it as bad, perse. Poor, perhaps.

You can't really blame high house prices or "being priced out" if you defaulted on your Lloyds overdraft or you haven't built yourself a good credit rating and can't get a mortgage at 20 years of age.