Ownership amongst the young

GreatApe

Conrad wrote: »

Under Corbyn property will become even more expensive;


1) Far greater immigration as word goes out he welcomes all with open arms and wallet (remember his first action on becoming leader was to attend a refugee rally - his priority is virtue signalling around immigration)


2) No amount of building can realistically keep pace with such an influx


3) Vastly increased borrowing means higher interest rates thus higher mortgage payments, thus higher rents




I hope the starrey eyed Cobynites don't complain when their housing costs rocket

He won't win. If somehow he could fill his party with his kind and win a massive majority he would likely put in place proper rent caps and start a government council House building program resulting in lower house and rent prices.

economic

ukcarper wrote: »

That just about sum you up.

what do you want from me? sympathy? why should i? this is a debate. not a place to say how we are all sorry about the young who cant afford to buy no more.

have you even considered for example how technology is rapidly improving and how these poor young people will benefit so greatly from this? life is generally not fair and there is certainly a lot more to be sympathetic about then some "poor" young person who cant afford to buy a home.

Chrysalis

economic wrote: »

yes i am. poor cant afford and why should they be able to afford? they are poor!

you seem to think everyone should be able to afford to buy. thats just so stupid. do you just want pure socialism in this country?

What I think is one of two situations.

Either have house buying only afforded by the wealthy and middle class but at the same time have affordable secure rent, Or have housing affordable for anyone who is working in full time employment.

Right now we have neither, I think a property only been affordable by 2 working adults or relying on an inheritance is clearly overpriced to what long term trends would put at.

Compared to the 1970s houses are most definitely less affordable due to the housing stock vs demand getting worse.

To me housing is the most important issue, definitely more important than things like brexit and government debt. A stable affordable place of shelter is key to improving other aspects of life such as health, making a family and able to carry out employment.

Chrysalis

GreatApe wrote: »

He won't win. If somehow he could fill his party with his kind and win a massive majority he would likely put in place proper rent caps and start a government council House building program resulting in lower house and rent prices.

Of which house owners would riot "oh know my assets are dropping in value" and the buy to let landlords "oh know I can no longer rip people off".

ukcarper

economic wrote: »

what do you want from me? sympathy? why should i? this is a debate. not a place to say how we are all sorry about the young who cant afford to buy no more.

have you even considered for example how technology is rapidly improving and how these poor young people will benefit so greatly from this? life is generally not fair and there is certainly a lot more to be sympathetic about then some "poor" young person who cant afford to buy a home.

No I don't expect sympathy from anyone let alone you, an acceptance of the facts would be OK.

ukcarper

GreatApe wrote: »

You don't have to rely on an Inheritance or gifts but you do need to accept that this generation is going to inherit and be gifted more wealth than any other generation in history.

If we split the property market into 3 parts, the bottom 1/3rd go to FTB the second 1/3rd go to second time buyers and the top 1/3rd go to 'other buyers' eg inherited wealth or very rich people etc. Then if you look at the bottom 1/3rd of homes you will find that a median full time male wage can buy said properties in 8 UK regions. And a median full time working couple can buy in 3 more regions. So what's the problem?


The problem I can see is that people are aiming too high with below average earnings and wealth. Eg like the two young ones in the other thread who were trying to buy in Manchester and complaining it was impossible. This was a couple trying to buy well above the median house for the area on incomes well below the median. Sure they will struggle just like at any other point in history where aiming to buy a great house on crap wages wasn't easy.

I don't accept your calculations but agree in some areas properties is affordable but there is normally a reason for that and it's much more complicated than you think.

economic

Chrysalis wrote: »

the most important issue, definitely more important than things like brexit and government debt. A stable affordable place of shelter is key to improving other aspects of life such as health, making a family and able to carry out employment.

you can do all that whilst renting. if someone cant afford to buy and wants to live in an area, they rent. simple. if they cant even rent there are benefits. there are not huge amounts of homeless people are there?

economic

ukcarper wrote: »

No I don't expect sympathy from anyone let alone you, an acceptance of the facts would be OK.

then why say what you said?

Malthusian

ukcarper wrote: »

I don't accept your calculations but agree in some areas properties is affordable but there is normally a reason for that and it's much more complicated than you think.

I.e. whinging Islington champagne socialists don't want to live there. And long may that continue, for the sake of us that live in those areas.

economic

ukcarper wrote: »

I don't accept your calculations but agree in some areas properties is affordable but there is normally a reason for that and it's much more complicated than you think.

nothing more complicated then demand/supply - simple economics (hence my name!).