Debate House Prices
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Percentage of 25-34 y/ds owning their own house 2004 - 2014
lukeh23
Posts: 207 Forumite
I can't wait to see some of the usual suspects go into denial mode.
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How many actually own their house if they are 25-34.
I presume the bank does in most cases?0 -
The issue is a housing shortage and mortgage rationing.
The first causes higher prices, the second prevents FTB's being able to access the funding required to enter the market, and ultimately prevents enough houses being built.“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 -
I can't wait to see some of the usual suspects go into denial mode.
Couldn't agree more.
They'll deny that young-ones didn't buy when the going was good, being brainwashed that prices would go down.
They'll deny that when prices crashed they couldn't save 2 brass farthings for a deposit once houses were dirt cheap, but could no longer be bought on 100% liar loans.
They'll deny having rented the 'full monty' house, knowing full well that this takes them inextricably down the financial road of no return.
They'll deny having ignored the advice of boomer father/grandfather who told them to save hard, wait for the moment, and then dive into the market at the first opportunity and work up from there.
It's the same with cars these days. Very few youngsters can afford £15K for that brand harry spankers car. Nor could I, [so you buy a 12 year old mini and save up for a 2 year old bigger car.....]. Oh no! Splash out £500 a month on finance ensuring that you'll never be able to afford a new one for cash in your life!
Of course it's the canny ones in the mid generation (not the boomers) who had the nous to buy up all the properties and rent them out. Well done! Nice to know there are some who understand the art of making money work for them.
... large gin & tonics all round.... :rotfl:0 -
Loughton_Monkey wrote: »Couldn't agree more.
They'll deny that young-ones didn't buy when the going was good, being brainwashed that prices would go down.
They'll deny that when prices crashed they couldn't save 2 brass farthings for a deposit once houses were dirt cheap, but could no longer be bought on 100% liar loans.
They'll deny having rented the 'full monty' house, knowing full well that this takes them inextricably down the financial road of no return.
They'll deny having ignored the advice of boomer father/grandfather who told them to save hard, wait for the moment, and then dive into the market at the first opportunity and work up from there.
It's the same with cars these days. Very few youngsters can afford £15K for that brand harry spankers car. Nor could I, [so you buy a 12 year old mini and save up for a 2 year old bigger car.....]. Oh no! Splash out £500 a month on finance ensuring that you'll never be able to afford a new one for cash in your life!
Of course it's the canny ones in the mid generation (not the boomers) who had the nous to buy up all the properties and rent them out. Well done! Nice to know there are some who understand the art of making money work for them.
... large gin & tonics all round.... :rotfl:
Read this a few times, and I really not sure I understand what you're trying to say.
Are you saying entire generations have significantly different abilities to utilize money well?
Is this a 'young'uns today' comments?0 -
Guess who's going to buy these houses in the future?0
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People in that age group in 2004 would have been buying property when it was the cheapest it's been for at least 50 years and economy improving. That age group would have been trying to buy when prices were at the highest and the economy crashed so is it surprising.0
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Loughton_Monkey wrote: »It's the same with cars these days.
Young people aren't interested in cars. Its only old men that are obsessed with cars these days.What do we do when we fall? We get up, dust ourselves off and start walking in the right direction again. Perhaps when we fall, it is easy to forget there are people along the way who help us stand and walk with us as we get back on track.0
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