How do any single buyers manage to afford houses when only able to borrow 4x income??

Rich2808

zagubov wrote: »

This thread is slowly working its way to the obvious question: who on earth ever suggested that single people should be able to buy a house?
That expectation has no foundation in reality

Why should it be unrealistic? It was perfectly possible even in inner London a mere 10-15 years ago and had been for decades?

Its only in the last decade that its become seemingly impossible in London and the south east.

And of course even couples can encounter issues when they have kids - so one parent has to stay home or they pay massive sums in childcare wiping out much of the second salary unless a grandparent lives locally to help out.

My question is when did it become unrealistic for a single earner not to be able to afford a house - cos most households were single earners until the last 15-20 years.

There was life before 2006!

ukcarper

Rich2808 wrote: »

Why should it be unrealistic? It was perfectly possible even in inner London a mere 10-15 years ago and had been for decades?

Its only in the last decade that its become seemingly impossible in London and the south east.

And of course even couples can encounter issues when they have kids - so one parent has to stay home or they pay massive sums in childcare wiping out much of the second salary unless a grandparent lives locally to help out.

My question is when did it become unrealistic for a single earner not to be able to afford a house - cos most households were single earners until the last 15-20 years.

There was life before 2006!

I couldn't as a couple in early 70s in fact I had to move 20 miles further out than the M25 is now. That was earning the equivelent of average full time male earnings.

AFF8879

I bought a 1 bed flat in London as a singleton last year. I have a decent job in banking but it's not six figures. For me, financial independence is extremely important - as and when I do settle down with someone, I want to do in the knowledge that I'll never have to rely on anyone else should things ever go pear shaped in a relationship. Some may call it pessimistic, I call it sensible!