If we vote for Brexit what happens

buglawton

Phew! One of the things to criticise about this thread is the overwhelming support it seems to show for buying vs renting. It shows really that the in the UK the best thing to do is to buy once in a reasonably good employment area then stick forever. Stamp duty and inept solicitors conspire to make moving for work or downsizing when the offspring have flown a bit of a no-no.

Now in a country where 'generation rent' has existed for 60 years like Germany, people enjoy great job mobility, short commutes and low (often tax deductible) cost of getting to work.

The UK has a long, long way to go.

LHW99

I do appreciate that about 30 years from now they too will then have a public sector demand profile more close to the locals but that is 30 years of gravy for the locals.

This is possibly the major problem with large scale immigration.
30 years sounds a long time, but it passes very quickly in the general scheme of things, meaning the country would need to continuously raise the migration levels to cope, using the free movement model.
Better would be the Japanese idea of issuing foreign nationals with permts to work, so that labour is available when needed, and taxes are received, but there is not the same long term commitment that everyone who arrives could become permanently resident.

indianabones

MobileSaver wrote: »

Here's an example from a report in 2015...

In Burnley the average income is £20,280 while the median house price is £39,500 ... would you agree that that is rather affordable?

In other words just because the highly desirable centre of London is out of reach for most doesn't mean that there aren't lots of affordable houses elsewhere in the UK.

Burnley has a population of 73,000. They're lucky to have such a low average house price, but just done some research and I can safely say that those houses selling for 40k wouldn't fit more than a couple at best. In Burnley you would need to spend upwards of £100k to get something that you could actually call a home and fit more than a washing machine and TV in.

It isn't just about London, it's many other parts of the country as well. I don't know why every just jumps to use London as an example. What about Manchester, Solihull, Reading, Norwich etc etc.

If you take the country as a whole, even excluding Greater London you'll have to agree that the prices are not affordable. I'm 31, married with a daughter and I've had to stay at home 6 years! to save up for approx a 40% deposit. I'm not even saving for a special home, just your average 3 bed semi with a side garage in a semi decent area.

Houses are not affordable for most of us.

jimbog

This BBC calculator gives an indication of what is affordable to whom:
http://www.bbc.co.uk/news/business-23234033

jimbog

Excuse my naivety, but if you retire does the government give any help to pay towards your rent? Or are you expected to pay the cost (say £600/month or so from your own pension?)

Crashy_Time

shortcrust wrote: »

If a 25 year old bought a house today with a 25 year mortgage they would own the house outright at 50. No more mortgage, no more rent, and an asset to pay for care, release equity, pass to family etc in old age. Would a 50 year old who'd rented all their lives and with a lifetime of rent to pay ahead of them really be thinking how lucky they were that they'd dodged that ownership bullet?

-25 years of mortgage payments vs a lifetime of rent
-a valuable asset vs nothing

Oo what a quandary!

Do you know how many 25 year olds are buying houses today?

Crashy_Time

jimbog wrote: »

Excuse my naivety, but if you retire does the government give any help to pay towards your rent? Or are you expected to pay the cost (say £600/month or so from your own pension?)

What about if you have never worked, do they keep paying your housing benefit? :rotfl:

jimbog

Crashy_Time wrote: »

Do you know how many 25 year olds are buying houses today?

No, I don't. Do you?

Thought not

jimbog

Crashy_Time wrote: »

What about if you have never worked, do they keep paying your housing benefit? :rotfl:

I honestly don't know as i've never been in that position. Perhaps you might enlighten us?

shortcrust

iantojones40 wrote: »

I appreciate this is a rather difficult concept for the hard of thinking to grasp, but you do realise that all other houses will equally have "brilliant" price rises so you won't be in any better position at all, in fact it will cost you more if you wish to trade up to a bigger house or nicer area, or are you hoping that your house will be the only one on the market to have a "brilliant" rise in price?

This has so little to do with the quoted post that I genuinely wonder if some of the contributors on here are bots rather than people. Anyway, pretty useless thread, going round and round in circles with the same people endlessly replying with variations of the same post. Perhaps they think if they say the same thing over and over again they might start to actually believe it.