Harder now for 1st time buyers?

littlegreenfrog_2

always_sunny wrote: »

And? Isn't London like the highest concentration of graduates like 60% of the workforce? You are lucky to be working in an industry and subject you studied and enjoy. Many are not so lucky. I don't believe though it should have any correlation to housing.

I disagree. If studying and working hard and getting a good job doesn't enable you to buy your own home and achieve financial security, then why bother? We could all have taken it easy. I could have become a professional beach bum, or bought a camper van and travelled round the world for the last 12 years instead.

Society should incentivise people to work hard and get on in life. Right now the people reaping all the benefits of the current system are the baby boomers who invested in BTL and are now taking it easy on the backs of the younger generations.

always_sunny wrote: »

That I agree - you're renting and more likely subsidising someone's pension given that many previous generations did not have a scheme.

I'm pleased to say I'm not doing that. Why on earth would I want to subsidise the pension of someone who is already wealthier than I will ever be? Screw that. I did that for a few years, then I changed job and moved back in with my parents to save for a deposit. I only wish everyone else like me had the option to do the same.

always_sunny wrote: »

With all these degree holders the UK (and most industrialised countries) are baking makes you think what next generation would do.

Not really sure what you're trying to say here. :huh:

always_sunny

littlegreenfrog wrote: »

I disagree. If studying and working hard and getting a good job doesn't enable you to buy your own home and achieve financial security, then why bother? We could all have taken it easy. I could have become a professional beach bum, or bought a camper van and travelled round the world for the last 12 years instead.

You seem to believe that just because you have a degree and employed you must deserve your own home and financial security! Often it just doesn't work that way at all and it is just that.
Maybe though this is the biggest difference in generations...

If the number of graduates is increasing and they all expect that graduating = housing/security, it's going to be disappointing for many!

littlegreenfrog_2

You seem to be confusing me with someone who has got a degree in something meaningless because they were told it would lead them to a well-paid job and it hasn't. I have a well-paid job. I am in a profession which has always required a degree. I am successful. I am also fortunate enough to have been able to live with my parents for a couple of years to save a deposit. If it is this difficult for me, what hope have other people got?

ukcarper

littlegreenfrog wrote: »

I disagree. If studying and working hard and getting a good job doesn't enable you to buy your own home and achieve financial security, then why bother? We could all have taken it easy. I could have become a professional beach bum, or bought a camper van and travelled round the world for the last 12 years instead.

Society should incentivise people to work hard and get on in life. Right now the people reaping all the benefits of the current system are the baby boomers who invested in BTL and are now taking it easy on the backs of the younger generations.



I'm pleased to say I'm not doing that. Why on earth would I want to subsidise the pension of someone who is already wealthier than I will ever be? Screw that. I did that for a few years, then I changed job and moved back in with my parents to save for a deposit. I only wish everyone else like me had the option to do the same.



Not really sure what you're trying to say here. :huh:

I'd love to see a breakdown of BTL landlords by age as I only know 2 and only ones a boomer. It's only a small minority of boomers who are BTL landlords and many of those are only doing it because of low interest rates.

littlegreenfrog_2

ukcarper wrote: »

I'd love to see a breakdown of BTL landlords by age as I only know 2 and only ones a boomer. It's only a small minority of boomers who are BTL landlords and many of those are only doing it because of low interest rates.

All my previous landlords have been.

always_sunny

littlegreenfrog wrote: »

You seem to be confusing me with someone who has got a degree in something meaningless because they were told it would lead them to a well-paid job and it hasn't. I have a well-paid job. I am in a profession which has always required a degree. I am successful. I am also fortunate enough to have been able to live with my parents for a couple of years to save a deposit. If it is this difficult for me, what hope have other people got?

There are heaps of FTB with no degree, just because it's difficult for you, doesn't mean it's difficult for them. I don't have a degree, I don't find it difficult at all.

I was never asked for a degree by an EA at house viewings and there was no 'non-meaningless degree holder' checkbox to tick on the mortgage application either (or at least that I could decipher).

Person_one

always_sunny wrote: »

You seem to believe that just because you have a degree and employed you must deserve your own home and financial security!

Everybody deserves a secure home, whatever their education and salary.

littlegreenfrog_2

always_sunny wrote: »

There are heaps of FTB with no degree, just because it's difficult for you, doesn't mean it's difficult for them. I don't have a degree, I don't find it difficult at all.

I was never asked for a degree by an EA at house viewings and there was no 'non-meaningless degree holder' checkbox to tick on the mortgage application either (or at least that I could decipher).

I'm starting to think you are deliberately missing the point.

always_sunny

littlegreenfrog wrote: »

I'm starting to think you are deliberately missing the point.

and I am starting to think you are deliberately missing opportunities to buy a home!

Stop looking where you wish you could buy and start looking where you can afford... or if location is so important, keep saving and stop moaning about it!

littlegreenfrog_2

always_sunny wrote: »

and I am starting to think you are deliberately missing opportunities to buy a home!

Stop looking where you wish you could buy and start looking where you can afford... or if location is so important, keep saving and stop moaning about it!

Erm, I'm doing all of those things. But the point of this thread is to discuss whether it is harder now for FTBs. And clearly the answer is yes. Something should be done to redress the balance a bit.