Harder now for 1st time buyers?

ScorpiondeRooftrouser

racing_blue wrote: »

If it's getting harder, why are more people doing it?

The fact that more people are doing would in itself make it more difficult. That should be obvious. If nobody was buying houses prices would drop.

littlegreenfrog_2

ukcarper wrote: »

http://www.bbc.co.uk/news/business-35603893 According to above article it fell to 63% but there was a slight rise last year.

I wonder how much of that rise can be attributed to the recent government schemes like Help to Buy or shared ownership schemes.

littlegreenfrog_2

Quizzical_Squirrel wrote: »

Which is why it defies logic that the current young generation are having a baby boom.

Are they? Not that I've noticed.

looknohands

Baby boom would imply increasing birthrate, I'm 30 years old and only have a handful of acquaintances with more than one child. Not sure where your stats from but in my area it seems to be a declining birth rate..

littlegreenfrog_2

Also, look at how well the one child per couple policy is working out in China. You need a decent sized younger generation to support the economy in the future. That means that on average, each person should be having two children.

ukcarper

littlegreenfrog wrote: »

I wonder how much of that rise can be attributed to the recent government schemes like Help to Buy or shared ownership schemes.

This link http://visual.ons.gov.uk/uk-perspectives-housing-and-home-ownership-in-the-uk/ shows an increase in FTBs in 2011.

littlegreenfrog_2

ukcarper wrote: »

This link http://visual.ons.gov.uk/uk-perspectives-housing-and-home-ownership-in-the-uk/ shows an increase in FTBs in 2011.

It also shows a sharp drop in 2007 and that in 2013 the number of FTBs had still not got back to the level it was at in 1980.

racing_blue

Boler1985 spent 5 years slaving away in Qatar (or wherever) to afford it. That's one way to do it.

Another route is to secure a difficult and high paying job in, for example, London finance. Or generate capital gains through a business, with all the ideas, hard work and risk that entails.

People who are not willing to do the spadework can still live in London, they can rent properties from people who were. Or they can buy elsewhere in the UK.

Spadework in this context is not just hard work - it is smart work & often unpopular or uncomfortable work. Agency, consultancy, off shore or ex pat, many professions have a "game" which can be played for a few years to maximise wealth accumulation

That's what I think anyway

littlegreenfrog_2

racing_blue wrote: »

Boler1985 spent 5 years slaving away in Qatar (or wherever) to afford it. That's one way to do it.

Another route is to secure a difficult and high paying job in, for example, London finance. Or generate capital gains through a business, with all the ideas, hard work and risk that entails.

People who are not willing to do the spadework can still live in London, they can rent properties from people who were. Or they can buy elsewhere in the UK.

Spadework in this context is not just hard work - it is smart work & often unpopular or uncomfortable work. Agency, consultancy, off shore or ex pat, many professions have a "game" which can be played for a few years to maximise wealth accumulation

That's what I think anyway

Get real. Not everyone can be an investment banker. What would London do without doctors and teachers? You think the landlords of those doctors and teachers living in London acquired those properties through "spade work"? No, most likely they were just in the right place at the right time.

The point is, there is no longer any real correlation between "spade work" and wealth. And that is precisely the problem.

looknohands

It is easier to progress in careers within the private sector in London in general, staff movement is higher so opportunities / pay rises open up more often. There's so much work that contracting will earn you a lot more money. I remotely contract for clients in London so don't even need to live there but get paid around 4 times more than I would if I did similar job in-house in my home city. There is plenty of money to earn in / from London is the point I think?