Renting in your 40's and staring into the abyss

CLAPTON

all depends when you are talking about

40 years ago sharing rooms at UNi and in flats was quite common just as living in with a family or having a landlady (on the premises)

this has progressively become quite rare

unis are increasingly providing en-suite rooms: soon people will be saying how weird it is sharing a bathroom

it all shows how housing standards have risen over the years

Graham_Devon

CLAPTON wrote: »

it all shows how housing standards have risen over the years

To be fair, that will always be the case and always has been the case.

missyrichards

Well, I'm not quite 40 years old now so I don't know what was common that long ago. It definitely wasn't common when I was at uni in the 90's.

lisyloo

There is a safety net for housing to live in I.e. Shelter
There isn't a safety to give people assets

I think your expectations are strange if you expect people to be handed assets.

lisyloo

I don't think you have to be a weirdo to share in London where space is at a premium and very expensive.

ukcarper

lisyloo wrote: »

I don't think you have to be a weirdo to share in London where space is at a premium and very expensive.

Can you clarify do you mean share a room with another person or taking a room in a shared property.

MARTYM8`

lisyloo wrote: »

I don't think you have to be a weirdo to share in London where space is at a premium and very expensive.

Yes - its all relative. London really is tough for first time buyers unless they are on above average wages or have big deposits (or generous parents).

You can buy houses in Colchester for less than £150k.

http://www.rightmove.co.uk/property-for-sale/property-35504007.html

In London you would be looking at a one bed flat above a dry cleaners in Catford for the same price - and one that needs a fair bit of work done!

http://www.rightmove.co.uk/property-for-sale/property-53837714.html

Loughton_Monkey

Graham_Devon wrote: »

No, but you need something to measure things on, and that's kind of the measurement.

If your average earner can only afford the starter or smaller home, then what is everyone earning less than average (50% of the population) supposed to do?

So the average earners [and above] should do as you suggest and buy a 'starter home'. Simples.

Other average earners will eventually form partnerships/marriages with other average earners and do the same.

Hence ownership can continue to be available for 60/70% of households.

MARTYM8`

Loughton_Monkey wrote: »

So the average earners [and above] should do as you suggest and buy a 'starter home'. Simples.

Other average earners will eventually form partnerships/marriages with other average earners and do the same.

Hence ownership can continue to be available for 60/70% of households.

As you say - if the above average owners can only afford the starter homes who is going to be able to afford the bigger homes?

Maybe we can have starter homes of multiple occupation - where above average earners engage in shared ownership (each couple gets one third of the house!).

wotsthat

If London is so expensive to buy why bother?

May as well just rent but this blogger found out there's no law which says something that's too expensive will get cheaper anytime soon.

http://monevator.com/weekend-reading-doing-the-wrong-thing-with-property-made-everyone-but-me-rich/