Renters pushed to breaking point as Britain's selfish homeowners gloat their hands

Graham_Devon

ukcarper wrote: »

Rent is quite often less than mortgage repayments you can rent a £240k house where I am for £900 a month to buy that house with 10% deposit it would cost you £1033 a month for 25 years at 3%.

So have you tried paying that rent on the average wage?

Have you tried paying all your other expenses? Remember, you'll need to cover expensive transport costs as you are always insisting people should commute.

How easy is it now to save your deposit in a couple of years?

What I've noticed on this thread, and if you look yourself it's plain to see is that all those who fell into housing wealth....literally fell into it... are now all suggesting how easy it is.

They then say how hard it was for them. Even though apparently it's all so easy.

The "I'm a wealthy landlord so shutup" crowd is obviously larger on this board than everyone else. I'm not sure why, but they appear to be attracted here, so clearly all threads will go the same way.

"It's so easy - but it was so hard". It doesn't even make any sense.

Graham_Devon

Cornucopia wrote: »

So, about £125 per week, each for a couple?.

Yer.

Great - so what happens when they have that child and one parent is either down £125 a week or shelling out similar for childcare?

I guess the obvious thing to suggest is getting down to B&Q and buying enough sand to stick your head into?

Or probably more realistic - suugest they were stupid to have kids and should have thought about it beforehand. I.e. cannot win.

ukcarper

ruggedtoast wrote: »

Where I am the average local wage is probably less than £24k a year for people doing white collar work.

A 3 bed terrace is about £200k plus. Rental £850-£1000.

Maybe because you are well off you don't really understand what it is like to earn an average wage. And maybe because you are 117 years old, you seem to forget how short people's salad days are. Yes if you leave education, live at home and eat beans until you are 32, then immediately find a spouse who is also working, you probably can get a mortgage somewhere average and start a family.

But most people don't do that, and there is no particular reason why they should have to. The housing shortage is artificial and designed to make persons such as yourself vote 'the right way', with the happy consequence of making rentier types even richer,

Let's get a couple of thing right I have never earned a high income and now it is less than average wage and has been for last 13 years. There have been very few times in the past when you could have a family rent and save effectively it would not have been possible for me. It is quite possible to share or rent a room while you save I know people who have done it and they might not have married and bought until they were in their 30s but they didn't start saving until late. As voting you have no idea how I vote.

Cornucopia

Graham_Devon wrote: »

Yer.

Great - so what happens when they have that child and one parent is either down £125 a week or shelling out similar for childcare?

I guess the obvious thing to suggest is getting down to B&Q and buying enough sand to stick your head into?

Or probably more realistic - suugest they were stupid to have kids and should have thought about it beforehand. I.e. cannot win.

One of the things that is surprising about the property bears(*) is that they seem to think that no one under 40 can budget.

Obviously, £125 per person should be relatively comfortable, but in entering into that mortgage, you work out whether one income would be enough.


(*) Do property bears "live" in the woods?

Cornucopia

Graham_Devon wrote: »

"It's so easy - but it was so hard". It doesn't even make any sense.

In my experience, when you think that something doesn't make any sense, the chances are you have misunderstood it.

And that's the case here.

I've even pointed you in the right direction only a few posts ago: one person's experience doesn't necessarily reflect everyone's experience.

Buying as a FTB has always been difficult for most people. It's a shock both for the finances, and potentially for one's sense of maturity and responsibility.

Where do you stand on the notion that high prices are just a proxy for under-supply, and that even if we waved a magic wand and halved prices, it would simply mean that an alternative form of rationing would be required?

ukcarper

Graham_Devon wrote: »

So have you tried paying that rent on the average wage?

Have you tried paying all your other expenses? Remember, you'll need to cover expensive transport costs as you are always insisting people should commute.

How easy is it now to save your deposit in a couple of years?

What I've noticed on this thread, and if you look yourself it's plain to see is that all those who fell into housing wealth....literally fell into it... are now all suggesting how easy it is.

They then say how hard it was for them. Even though apparently it's all so easy.

The "I'm a wealthy landlord so shutup" crowd is obviously larger on this board than everyone else. I'm not sure why, but they appear to be attracted here, so clearly all threads will go the same way.

"It's so easy - but it was so hard". It doesn't even make any sense.

I'm not saving you could rent that house and save what I am saying is that if make sacrifices you can. Some. One earning £24k takes home £1600 a month if you are a couple and second person is earning £12k they would take home £937 a total of £2537 can get a double room for £475 with bills of a 1 bed flat for £695. In the room you would have over £2000 a month left so could easily save £1000 a month.

I now have a nice house but I did not get here easily and I don't think it's easy now but I do think it's possible to save deposit if you really want to.

There does seem to be a few landlords on this page but I'm not one and I don't think they are the majority just because someone doesn't agree with you it doesn't mean they are a landlord.

For what it's worth I do think prices are to high in London and parts of the south east but I don't think saving is the barrier if prices fell 20% that 10% deposit would still be over £19k and people like you would still be saying it's impossible to save deposit.

chucknorris

ukcarper wrote: »

I'm not saving you could rent that house and save what I am saying is that if make sacrifices you can. Some. One earning £24k takes home £1600 a month if you are a couple and second person is earning £12k they would take home £937 a total of £2537 can get a double room for £475 with bills of a 1 bed flat for £695. In the room you would have over £2000 a month left so could easily save £1000 a month.

I now have a nice house but I did not get here easily and I don't think it's easy now but I do think it's possible to save deposit if you really want to.

But sacrifices mean that I can't have everything right now, that's not fair, I'm entitled to better than that, so I'm going to stamp my feet and scream until I get what I want and I'm also going to moan on an internet forum and tell everyone who has gone through that sacrificial phase, that they were just lucky.

ukcarper

Cornucopia wrote: »

Where do you stand on the notion that high prices are just a proxy for under-supply, and that even if we waved a magic wand and halved prices, it would simply mean that an alternative form of rationing would be required?

Personally I think that the fact that you can now borrow more has increased prices. But if things had not change the same people who can't buy now would still not be able to buy as prices would be at a level where demand meets supply.

Cornucopia

Yes, definitely, if we are looking for the mechanism for HPI, we need look no further than bigger borrowing based on two incomes.

And locally, within Zone 2-3 in London, fashion driven (possibly) by higher commuting costs and the fact that London is now part of an international property market.

ruggedtoast

ukcarper wrote: »

Let's get a couple of thing right I have never earned a high income and now it is less than average wage and has been for last 13 years. There have been very few times in the past when you could have a family rent and save effectively it would not have been possible for me. It is quite possible to share or rent a room while you save I know people who have done it and they might not have married and bought until they were in their 30s but they didn't start saving until late. As voting you have no idea how I vote.

ukcarper wrote: »

Let's get a couple of thing right I have never earned a high income and now it is less than average wage and has been for last 13 years. There have been very few times in the past when you could have a family rent and save effectively it would not have been possible for me. It is quite possible to share or rent a room while you save I know people who have done it and they might not have married and bought until they were in their 30s but they didn't start saving until late. As voting you have no idea how I vote.

Well...

The second house is similar to my first house in fact it would be more expensive as it's end of terrace I couldn't have afforded it. How does that compute with you as I had to move to that area ang commute in 70s it was all I could afford earning quite a bit more than average earnings.

And didn't you say you were a Labour voter?

(Did I get the 117 years old thing right?)