Are home owners happy that prices rise and price out young

CreditCrunchie

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. One bed flat would not suit us in any way, shape, or form. The complication for us, and which makes housebuying currently too expensive for us s that with limited credit history (me), we would need a very high deposit. With the cost of renting now at astronomical levels, plus trying to pay for a wedding next year and start a family before it's too late.. who has that kind of money for a high deposit?? We can do it and we WILL do it, but we both have very good salaries. Those who are just leaving university with 20k of debt behind them and no credit history are stuffed!

Generali

floridaman wrote: »

Do you people have a heart?

Yes

floridaman wrote: »

Shouldn't owning a houses be a basic right

No. How can it be?

CreditCrunchie wrote: »

Those who are just leaving university with 20k of debt behind them and no credit history are stuffed!

Out of interest, how could someone accumulate £20,000 of debt and have no credit history?

chucknorris

floridaman wrote: »

Do you people have a heart? Shouldn't owning a houses be a basic right

IMO this is what your problem is, you seem to think that owning a house is your right, rather than something that you have to strive to achieve.

Of course I have sympathy with those starting out, but it probably wasn't as easy as you think 'back in the good old days'.

Ronaldo_Mconaldo

It's not enough that I succeed, others must fail.

It's nice to own a house but the thought that others are struggling and sad, especially the young ones. That's the real juice, that's what does it for me.

AndyGuil

The rest of Europe don't have such an obsession with owning. Renting is normal. It really isn't that difficult to save a deposit. It just isn't going to happen unless the individual is going to make financial sacrifices.

Student loan debt does not inhibit a mortgage loan like a normal loan.

roddydogs

No, were not happy, but what are we supposed to do about it?

CLAPTON

AndyGuil wrote: »

The rest of Europe don't have such an obsession with owning. Renting is normal. It really isn't that difficult to save a deposit. It just isn't going to happen unless the individual is going to make financial sacrifices.

Student loan debt does not inhibit a mortgage loan like a normal loan.

home ownership in europe is higher than the UK.

CLAPTON

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. One bed flat would not suit us in any way, shape, or form. The complication for us, and which makes housebuying currently too expensive for us s that with limited credit history (me), we would need a very high deposit. With the cost of renting now at astronomical levels, plus trying to pay for a wedding next year and start a family before it's too late.. who has that kind of money for a high deposit?? We can do it and we WILL do it, but we both have very good salaries. Those who are just leaving university with 20k of debt behind them and no credit history are stuffed!

if you are in your 30s why haven't you already saved for a deposit?

why don't you have a credit history : all you need is a simple credit card and use it a bit and pay in full

you don't need an expensive wedding : that's a choice

the level of student debt only has a small impact on getting a mortgage

AndyGuil

CLAPTON wrote: »

home ownership in europe is higher than the UK.

They are not obsessed with it though. It is ok to rent.

ruggedtoast

PaulF81 wrote: »

Those Thant can't afford should look forward to pulling the NHs out from the boomers feet, just before they need it.

I wasn't sure if you were being sarcastic or not. But it has given me something to look forward to I hadn't thought of so I thanked it anyway.