UK Affordability still very good

ukcarper

gycraig wrote: »

If you truly are 34 then houses I am looking at have often gone up 50 percent at least from 8-9 years ago when you were my age. But oh we must not whinge as it's the iPads holding us back not the crazy house prices

When I bought my first house prices early 70s prices increased 50% in a year and doubled over 2 years.

gycraig_2

economic wrote: »

Prices have gone up because people can afford to buy them. People who did manage to save enough that is. If you find yoursef disgruntled as you couldn't afford to buy then look in the mirror to find out who's fault that was. If you want to buy then save more and earn more. Take the steps u need to do this and you will get there.

House prices haven't gone up because people can afford more they have gone up because the government are doing everything they can to prop them up.

Housing benefit just encourages house prices up as does the help to buy isa as does / did the equity loan the government are offering, the fact social housing is being sold off in mental numbers for pennies also forces prices up.

The government / banks also know houses are unaffordable and "normal" people are massively struggling to get the 10 percent hence equity loans being thrown around like sweets on new builds.

wotsthat wrote: »

What's your dad's situation got to do with anything?

I think it was Einstein who said the definition of madness was doing the same thing but expecting a different outcome. The reverse is true - you can't buy a house at a quarter of today's value with a 0% deposit so, if you want to own a house, you'll need to follow a different process.

This isn't aimed at you directly but if you want to know what people's financial priorities are then don't bother asking them. Ask to see their bank statements instead because their real priorities will become apparent very quickly. Judging by consumer spending figures and home ownership rates people haven't been willing to increase the priority of home ownership as prices and deposit requirements increased.

Reason I'm bitter is iv had to move in with girlfriends parents for a year and squirrel away every single penny we possibly can.

Successions of governments have done everything they can to keep house prices high whilst the banking sector has had a complete rehaul because people a lot older than me took out stupid high houses and defaulted.

All this while the council Are gifting people on benefits houses for a fraction of there worth .

Comparing the average "terrace" house price is a terrible way of comparing affordability. Were I'm from the average terrace house is in a crap area no one wants to buy in surrounded by drug dealers and some of the highest crime stats in the country.

economic

gycraig wrote: »

House prices haven't gone up because people can afford more they have gone up because the government are doing everything they can to prop them up.

Housing benefit just encourages house prices up as does the help to buy isa as does / did the equity loan the government are offering, the fact social housing is being sold off in mental numbers for pennies also forces prices up.

The government / banks also know houses are unaffordable and "normal" people are massively struggling to get the 10 percent hence equity loans being thrown around like sweets on new builds.



Reason I'm bitter is iv had to move in with girlfriends parents for a year and squirrel away every single penny we possibly can.

Successions of governments have done everything they can to keep house prices high whilst the banking sector has had a complete rehaul because people a lot older than me took out stupid high houses and defaulted.

All this while the council Are gifting people on benefits houses for a fraction of there worth .

Comparing the average "terrace" house price is a terrible way of comparing affordability. Were I'm from the average terrace house is in a crap area no one wants to buy in surrounded by drug dealers and some of the highest crime stats in the country.

how much do you earn? where are you wanting to buy?

westernpromise

gycraig wrote: »

House prices haven't gone up because people can afford more they have gone up because the government are doing everything they can to prop them up.

Nurse! NURSE!

GreatApe

gycraig wrote: »

House prices haven't gone up because people can afford more they have gone up because the government are doing everything they can to prop them up.

Housing benefit just encourages house prices up as does the help to buy isa as does / did the equity loan the government are offering, the fact social housing is being sold off in mental numbers for pennies also forces prices up.

The government / banks also know houses are unaffordable and "normal" people are massively struggling to get the 10 percent hence equity loans being thrown around like sweets on new builds.



Reason I'm bitter is iv had to move in with girlfriends parents for a year and squirrel away every single penny we possibly can.

Successions of governments have done everything they can to keep house prices high whilst the banking sector has had a complete rehaul because people a lot older than me took out stupid high houses and defaulted.

All this while the council Are gifting people on benefits houses for a fraction of there worth .

Comparing the average "terrace" house price is a terrible way of comparing affordability. Were I'm from the average terrace house is in a crap area no one wants to buy in surrounded by drug dealers and some of the highest crime stats in the country.

One part missed by the crash cheerleaders is the fact that the homes they want are already mostly owned by owners and the homes they don't want are owned by landlords.

From memory its something like 20% of 1 bedroom properties are owner occupied (80% rented) while 85% of 4+ bedroom properties are owner occupied

So if they want ownership to increase and renting to decrease they need to buy small flats off landlords. Something they don't want to do. They want to buy one of the nice big homes that are already owner owned. So which owner living in their nice big home deserves it less than you?

gycraig_2

economic wrote: »

how much do you earn? where are you wanting to buy?

About 2200- 2800 a month between us after tax it was about 1900 a month till a couple of months ago. Living in Doncaster

GreatApe wrote: »

One part missed by the crash cheerleaders is the fact that the homes they want are already mostly owned by owners and the homes they don't want are owned by landlords.

From memory its something like 20% of 1 bedroom properties are owner occupied (80% rented) while 85% of 4+ bedroom properties are owner occupied

So if they want ownership to increase and renting to decrease they need to buy small flats off landlords. Something they don't want to do. They want to buy one of the nice big homes that are already owner owned. So which owner living in their nice big home deserves it less than you?

Vast majority of people don't want or need 4 bedroom houses. Why would people want to buy a flat which after the leasehold cost is normally more a month than a small house.

GreatApe

gycraig wrote: »

Vast majority of people don't want or need 4 bedroom houses. Why would people want to buy a flat which after the leasehold cost is normally more a month than a small house.

You miss the point. Overall ownership rate is about 63% (closer to 69% for the UK born)

When you split it up you fond that ownership is higher for homes lower for flats. Ownership rate is higher the more bedrooms there are.

Some crash cheerleaders cry and are angry that ownership has fallen. Well if they want ownership to rise they need renters to buy Flats and small properties.

I'm not saying a renter should buy their 1 bedroom rented flat from their landlord. I'm saying if you/hpc-cheerleaders/society wants higher ownership rates then renters need to disproportionately buy smaller properties and flats. Its a simple fact. But of course those complaining that house prices are too expensive are complaining that nice homes are unaffordable for them.

economic

GreatApe wrote: »

You miss the point. Overall ownership rate is about 63% (closer to 69% for the UK born)

When you split it up you fond that ownership is higher for homes lower for flats. Ownership rate is higher the more bedrooms there are.

Some crash cheerleaders cry and are angry that ownership has fallen. Well if they want ownership to rise they need renters to buy Flats and small properties.

I'm not saying a renter should buy their 1 bedroom rented flat from their landlord. I'm saying if you/hpc-cheerleaders/society wants higher ownership rates then renters need to disproportionately buy smaller properties and flats. Its a simple fact. But of course those complaining that house prices are too expensive are complaining that nice homes are unaffordable for them.

buying a nice home should be considered a luxury. no one has the right to one. you can bring up a family in a 2 bed flat.

i only own a modest 2 bed flat. i dont need anything more. it makes me laugh how people say they need a nice big home then in reality its only to show off and they end up paying for it by working longer in their jobs usually.

chucknorris

gycraig wrote: »

Vast majority of people don't want or need 4 bedroom houses. Why would people want to buy a flat which after the leasehold cost is normally more a month than a small house.

I have lived in ex-council flats (they were reasonably decent and I owned them) for over 10 years, because it helped me get where I am today. When I was buying the last one I remember the mortgage broker coming back to me and saying 'they (Mortgage Express) don't believe that you want to live in it, because of that large 3 bed house in Balham that you own, they think that you want to rent it out'. They simply didn't understand that it was much better for me if my tenants bought the expensive house for me, and I made do with the much cheaper flat. Some people seem have no foresight and/or strategy, they want jam today.

economic

chucknorris wrote: »

I have lived in ex-council flats (they were reasonably decent and I owned them) for over 10 years, because it helped me get where I am today. When I was buying the last one I remember the mortgage broker coming back to me and saying 'they (Mortgage Express) don't believe that you want to live in it, because of that large 3 bed house in Balham that you own, they think that you want to rent it out'. They simply didn't understand that it was much better for me if my tenants bought the expensive house for me, and I made do with the much cheaper flat. Some people seem have no foresight and/or strategy, they want jam today.

exactly. they put all their eggs in one nice house but then are in so much debt have to work long, what sthe point?