House prices

MobileSaver

Koldweather1 wrote: »

Mobilesaver, I think you would agree your generation had it MUCH easier when it comes to property and prices? Thats a fair comment?

No, I do not agree at all that that is a fair comment.

Prices were obviously much lower but you can't just look at prices in isolation. Interest rates were MUCH higher when I bought my first house and the house itself wasn't remotely of the standard that today's generation would typically find acceptable; no double glazing, no central heating, no insulation, no oven or hob, one loo which was accessed via the second bedroom, no internet (obviously), only 4 TV channels...

We struggled to pay the bills and mortgage and I worked every hour there was; all white goods were from the second-hand shop, a treat at the weekend was a four-pack of lager and a holiday was just a fantasy dream. But that's just the way it was and not once did I complain to anyone that life wasn't fair or that I should be entitled to something better, we just got on with it and enjoyed what we had.

westernpromise

gazzabboi wrote: »

You are obviously an old guy who already has his mortgage paid off and can't wait for prices to rise laughing at the less fortunate.

I'm a mid 20s lad on the average salary with kids. How can it be good for me knowing that prices have gone from about 5 times my wage to 10 times in the space of 3 years.

So not a snowflake, I'm a hard working lad living in the struggle. Happy that I've gained equity, but no better off despite it as I can't move up.

When I was in my mid-20s I was spending 70% of my take home on the mortgage having moved to a cheap part of the country before then to accumulate some equity.
https://forums.moneysavingexpert.com/discussion/5475610

I didn't have kids at that age because I didn't see that I could afford them.

Property ownership requires a certain amount of forward thinking.

westernpromise

Batman2017 wrote: »

The banks, Estate agents, goverment(taxation) all win with higher house prices.

Who loses?

Banks are indifferent to house prices. Their balance sheet does not alter when the value of a house they have lent against changes.

Estate agents are also indifferent to house prices. They make money on volume, not price, which is why they always lean on sellers to reduce the price.

Malthusian

NineDeuce wrote: »

Mortgage payments invariably are indifferent to rental payments.

Obviously. The buyers are diffferent. The sellers are different. The risks are different. What you are paying for itself is completely different - one is housing, the other is secured finance.

gazzabboi

MobileSaver wrote: »

I'm almost twice your age and yes have paid off my mortgage but like most similar people here am not laughing at anyone.



The sense of entitlement of your generation is palpable. I'm quite sure you could "move up" either by buying a bigger/better house in a different area or by working harder/longer and therefore earning more but as so eloquently put by westernpromise, you do want it all on a plate.

There's no question in my mind that your parents have to take some of the blame but ultimately it's you and your generation whose default position always seems to be "it's someone else's fault" regardless of what the "it" is!

I'm a relatively wealthy guy but that still doesn't mean I can have anything and everything I want; there are certain thing I would like to have that I simply can't afford or justify. The difference between us that I don't go around complaining how unfair life is because of it...

Your not complaining because you don't need to move. It is other people's fault, for asking too much for their houses and other mugs over paying. Let's look at it a different way, standard corner shop you get a bottle of coke for £1. Service station it costs £2.50. It's not good value for money regardless of how hard you are working to buy it. But you buy it because you need it

economic

gazzabboi wrote: »

Your not complaining because you don't need to move. It is other people's fault, for asking too much for their houses and other mugs over paying. Let's look at it a different way, standard corner shop you get a bottle of coke for £1. Service station it costs £2.50. It's not good value for money regardless of how hard you are working to buy it. But you buy it because you need it

you are silly.

ukcarper

gazzabboi wrote: »

Your not complaining because you don't need to move. It is other people's fault, for asking too much for their houses and other mugs over paying. Let's look at it a different way, standard corner shop you get a bottle of coke for £1. Service station it costs £2.50. It's not good value for money regardless of how hard you are working to buy it. But you buy it because you need it

That not a very good analogy, my present house would sell for 50% of a similar house where I used to live 20 miles away, yet plenty of people are prepared to buy in the more expensive area.

gazzabboi

ukcarper wrote: »

That not a very good analogy, my present house would sell for 50% of a similar house where I used to live 20 miles away, yet plenty of people are prepared to buy in the more expensive area.

Which is the same theory. People are prepared to pay over the odds for things, but it doesn't mean it is worth it

ukcarper

gazzabboi wrote: »

Which is the same theory. People are prepared to pay over the odds for things, but it doesn't mean it is worth it

It is to them, prices are high in the south east but the price is determined by the people who can afford to buy not those who can't.

HPC_Ghuol_Hunter

gazzabboi wrote: »

You are obviously an old guy who already has his mortgage paid off and can't wait for prices to rise laughing at the less fortunate.

I'm a mid 20s lad on the average salary with kids. How can it be good for me knowing that prices have gone from about 5 times my wage to 10 times in the space of 3 years.

So not a snowflake, I'm a hard working lad living in the struggle. Happy that I've gained equity, but no better off despite it as I can't move up.

Dare I ask why you had children if you are struggling. Or do you expect the state (i.e. the rest of us) to fund your lifestyle for you? I am utterly flabbergasted and dumbfounded at such a sense of entitlement.