A Millennial Speaks out

[Deleted User]

Well, my wife is a nurse. Her wages are not 3x those of a nurse in the North East! Maybe 10% because of her London allowance. At work she's regarded as posh because we live in St Albans, lol.

At the time of buying, I was earning ok, £27k - but I doubt my salary, in a similar job, would have been much lower than £25k. Entry level salaries in 'graduate' jobs aren't *that* much higher in London. There's just a lot more graduate jobs.

triathlon

steampowered wrote: »

A quick google search suggests that the average salary for an electrical engineer is £31k, or £34k in London (https://www.glassdoor.co.uk/Salaries/london-electrical-engineer-salary-SRCH_IL.0,6_IM1035_KO7,26.htm).

Earlier in this thread you said that people earning less than £50k shouldn't buy property.

So if you entered that line of work today, then by your own standards you'd never be able to afford a property (let alone a BTL as well).

My background and where I started was as a electrical engineer, then moved onto SDH work, went to places like Canada and New Zealand to lay Fibre in the 90's and get the network up and running, and was highly qualified in Nortel and Atlantic scientific equipment, far more than £35,000 and that was 20 years ago now.

But even if I had not done that and what you do not take into account
1. second job
2. as much overtime as I could handle
3. an earning partner

All applied to me at some point and where our income exceeded £50,000 at times, and that was back in the 90's

triathlon

Cornucopia wrote: »

There are (a very few) cheap properties in the South East. The overall best value on RightMove is probably a 2-bed "in need of modernisation" flat in Bromley, which has a slightly short lease and an auction guide price of £90K.

More typically, properties below £100k are in places like Tilbury, Chelmsford, Chatham and Strood. The issue then becomes the high cost of commuting to London.

Another myth apart from the downtrodden millennials is the one of "cheap" property. There has never been cheap property anywhere in the UK and there has never in history been a period where it has been easy to pay for that property. There has though been easier and harder times in history.

andrewf75

ilovehouses wrote: »

After thousands of years of wealth progressively increasing with each generation you're calling the boomer generation as the one when it started going backwards?

But its not a progressive increase is it? On a graph its a very gradual upward trend then in the last 50 odd years it rockets upwards almost vertically!

chucknorris

triathlon wrote: »

Yes I used get angry and lash when I could not give a straight answer.

For the life of me I cannot see why anyone would want to feel sympathy for him, I think he has made some great choices and is having a great life I bet, makes me wish like I could go back in time and start all over again as I sat in my first old terrace using an old box as a table for the first few months, best times of my life.

I'm not angry with you, but it is obvious that you are just trolling, and I really can't be bothered with it.

triathlon

chucknorris wrote: »

I'm not angry with you, but it is obvious that you are just trolling, and I really can't be bothered with it. Although it has to be said that although you might be a first class fool, you are only a third rate troll.

I am very dubious about calling people trolls, though I do suspect you are one yourself, I just find it a cop out most of the time for people that say silly things and then try an get out of it. You personally post in a way that seeks approval and to impress in a "that's the type of guy I am" way.

By all means keep your distance from me as I suspect little of what you post is true, ironic a troll calling someone a troll, and you initiated the conversation with me :rotfl:

I just have a sneaking suspicion I hit a nerve with the HPC thing

ukcarper

triathlon wrote: »

I am very dubious about calling people trolls, though I do suspect you are one yourself, I just find it a cop out most of the time for people that say silly things and then try an get out of it. You personally post in a way that seeks approval and to impress in a "that's the type of guy I am" way.

By all means keep your distance from me as I suspect little of what you post is true, ironic a troll calling someone a troll, and you initiated the conversation with me :rotfl:

I just have a sneaking suspicion I hit a nerve with the HPC thing

If you are not a troll you have little understand of the U.K. jobs market, median full time earning in Surrey is around £34k while to buy an average house in Surrey you would need a combined income of £100k.

steampowered

triathlon wrote: »

Another myth apart from the downtrodden millennials is the one of "cheap" property. There has never been cheap property anywhere in the UK and there has never in history been a period where it has been easy to pay for that property. There has though been easier and harder times in history.

Once again, you are wrong. By today's standards, property was very cheap in the 70s and 80s.

I refer you to this graph which shows what has happened to house prices in real terms since the 70s.

As you will see, real house prices have doubled since the 70s.

Or to put it another way, someone who bought property in the 70s or 80s got 50% off.

Most people would describe getting something at 50% off as a bargain.

ukcarper

steampowered wrote: »

Once again, you are wrong. By today's standards, property was very cheap in the 70s and 80s.

I refer you to this graph which shows what has happened to house prices in real terms since the 70s.

As you will see, real house prices have doubled since the 70s.

Or to put it another way, someone who bought property in the 70s or 80s got 50% off.

Most people would describe getting something at 50% off as a bargain.

That doesnt take income account that earnings have outstripped earnings since 70s. According to measuring worth website 1 pound in 1971 was the equivalent of £13 in 2016 using RPI but using wage growth over the same period its £21.80.

triathlon

ukcarper wrote: »

If you are not a troll you have little understand of the U.K. jobs market, median full time earning in Surrey is around £34k while to buy an average house in Surrey you would need a combined income of £100k.

We keep hearing that same message, for well over a decade me thinks, and yet houses keep on selling, in Surrey more than anywhere else I bet, know it well I used to live in SW19, as prices keep going up in value.

I think it's you that has missed something