Debate House Prices
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Percentage of 25-34 y/ds owning their own house 2004 - 2014
Comments
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HAMISH_MCTAVISH wrote: »The issue is a housing shortage and mortgage rationing.
Is it?
Maybe young people prefer to rent - like the Germans. It makes them more mobile. Rented property is better quality than it was in the past.
I'm not saying that I'm right, just pointing out that no-one really knows why young people are renting. Causation and all that....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 -
Maybe young people prefer to rent - like the Germans. It makes them more mobile. Rented property is better quality than it was in the past.
.
I also resent the idea that young people waste all their money on cars. This is not the case. Many young people don't even have cars. I've never had a car under 10 years old.
The main problem young people face are the extortionate rents charged by the greedy have a go buy to let landlords and the massive increase in house prices caused by themChanging the world, one sarcastic comment at a time.0 -
No it's not. Since going to Uni and renting privately for 15 years I've never had a good landlord. They're all slumlords.
I also resent the idea that young people waste all their money on cars. This is not the case. Many young people don't even have cars. I've never had a car under 10 years old.
The main problem young people face are the extortionate rents charged by the greedy have a go buy to let landlords and the massive increase in house prices caused by them
I rented privately from 1998 to 2014 and never had what I would call a bad landlord let alone a "slumlord". I didn't rent property in any slums though so maybe that's where I went wrong.0 -
No it's not. Since going to Uni and renting privately for 15 years I've never had a good landlord. They're all slumlords.
I also resent the idea that young people waste all their money on cars. This is not the case. Many young people don't even have cars. I've never had a car under 10 years old.
The main problem young people face are the extortionate rents charged by the greedy have a go buy to let landlords and the massive increase in house prices caused by them
If prices go down say 10% what percentage of renters can afford to become buyers?
And if prices do down 10% again how many more percent can?
Also sometimes price is irrelevant I know two people who could afford to buy at 2x income where theu are but theu still haven't in both cases as they at some point in the short to medium future want to move elsewhere. Should they be forced to nuy to save themselves from slumlords?0 -
HAMISH_MCTAVISH wrote: »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.
You first assertion is certainly true. We're simply not building enough houses, and that makes life far harder for those trying to get on the ladder.
But I think any talk of "mortgage rationing" in this environment is a long way wide of the mark. Credit worthy borrowers with a decent deposit can access finance at income multiples that are eye watering by historic standards (although that has eased off recently), and 95% mortgages at historically low rates and high multiples are available to creditworthy borrowers.
Of course, ftb numbers remain fairly low by historic standards, but that's a result of high prices (largely down to your first point of course, although the "British attitude" to property doesn't help here either), not lack of mortgage finance.0 -
I wonder what the distribution of ages within the 25-34 y.o. bracket looks like comparing 2004 and 2014... e.g. if there were relatively more over-30s in 2004, then that might go some way to explain the differences. I've had a quick look and couldn't find anything to help me answer my question.
Also had more of those 25-34 years old in 2014 been to uni? Undertaken postgraduate qualifications? Struggled to find full-time employment? Anything else that might mean they're less able to be in a position to buy?0 -
23% increase in rentals due to EU migrants in ten years. More reason to vote UKIP.0
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I wonder what the distribution of ages within the 25-34 y.o. bracket looks like comparing 2004 and 2014... e.g. if there were relatively more over-30s in 2004, then that might go some way to explain the differences. I've had a quick look and couldn't find anything to help me answer my question.
Here you go....
http://www.ons.gov.uk/ons/interactive/england-and-wales-population-pyramid---dvc2/index.html“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 -
Young people aren't interested in cars. Its only old men that are obsessed with cars these days.
To paraphrase someone from another forum. Its amazing how many older people who own two cars and a 150 ton house full of consumer items, will then look at a young person who owns a bicycle a phone a laptop and some cotton clothing, and call them materialistic.0
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