Where have all the 20 something’s gone?

WibblyGirly

Oh my goodness! I cannot believe I did not see it before. I am such a silly millennial. The reason I have not bought a house yet is because of my cat! I best serve him his eviction notice asap. Then that £30 a month I spend on his food and insurance can go into my house deposit and I will soon have a house in no time! It does not matter that he offers companionship, amusement and snuggles, he is costing me my deposit! (End sarcasm).

It really gets my back up when people suggest that to have a house you must give up everything and live on beans. What a depressing way to live. I would rather take slightly longer to get a house and live a little along the way. I have a sensible balance between my wants and needs and I do have a deposit saved in preparation to buy next year. I do not have sky, or a brand new car or phone but I do go out and socialise with my friends. Sometimes it a night out costing £25, sometimes its a little coffee and cake date. To give up everything that costs even a tiny bit of money is to not really live in my opinion.

economic

WibblyGirly wrote: »

Oh my goodness! I cannot believe I did not see it before. I am such a silly millennial. The reason I have not bought a house yet is because of my cat! I best serve him his eviction notice asap. Then that £30 a month I spend on his food and insurance can go into my house deposit and I will soon have a house in no time! It does not matter that he offers companionship, amusement and snuggles, he is costing me my deposit! (End sarcasm).

It really gets my back up when people suggest that to have a house you must give up everything and live on beans. What a depressing way to live. I would rather take slightly longer to get a house and live a little along the way. I have a sensible balance between my wants and needs and I do have a deposit saved in preparation to buy next year. I do not have sky, or a brand new car or phone but I do go out and socialise with my friends. Sometimes it a night out costing £25, sometimes its a little coffee and cake date. To give up everything that costs even a tiny bit of money is to not really live in my opinion.

Does it really cost only £30 a month? Based on the below its more like £85 a month.

http://www.thisismoney.co.uk/money/bills/article-2042014/How-does-cost-dog-cat.html

No one is saying not to spend anything. But if you are struggling to buy a home then you do need to look after the pennies if you really want to eventually buy. If you dont take it seriously and still can not afford then you have only yourself to blame.

Cakeguts

WibblyGirly wrote: »

Oh my goodness! I cannot believe I did not see it before. I am such a silly millennial. The reason I have not bought a house yet is because of my cat! I best serve him his eviction notice asap. Then that £30 a month I spend on his food and insurance can go into my house deposit and I will soon have a house in no time! It does not matter that he offers companionship, amusement and snuggles, he is costing me my deposit! (End sarcasm).

It really gets my back up when people suggest that to have a house you must give up everything and live on beans. What a depressing way to live. I would rather take slightly longer to get a house and live a little along the way. I have a sensible balance between my wants and needs and I do have a deposit saved in preparation to buy next year. I do not have sky, or a brand new car or phone but I do go out and socialise with my friends. Sometimes it a night out costing £25, sometimes its a little coffee and cake date. To give up everything that costs even a tiny bit of money is to not really live in my opinion.

I don't think that people do say that you know I think what they say is that if you want to buy a house you have to save for the deposit.

The people they don't want to hear from are the ones who are complaining about not being able to save for a deposit because they don't want to have to go without anything. It is the people who spend almost their entire salary on eating out, new gadgets, car finance, expensive mobile phones, takeaways and then complain that they can't save for a deposit.

Cakeguts

itchyfeet123 wrote: »

IT people are definitely not manual workers. As for the rest, it is certainly difficult to compare jobs/status many decades apart. That's why looking at a subsection (manual workers) makes the kinds of comparisons in this thread harder. But it can be done, something like the NS-SEC would work, although I'm not aware of any source that has historical earnings data by NS-SEC category.

Why aren't IT people manual workers?

Jaywood89

In answer to your question. Your right I!!!8217;m not on here complaining and you wouldn!!!8217;t have seen me do it even if I had struggled to buy.

I inherited a large estate from my late mother who battled cancer for 8 years, it was an open fact I would inherit her wealth so we didn!!!8217;t focus our lives on saving instead we spend money enjoying what time we had left together as a family (within reason) also my partner and I are well paid compared to others our age, but no means wealthy but enough to get by.

I had to loose my mom to be able to buy a family home It doesn!!!8217;t makes up for it. I!!!8217;d rent for my entire life to have her back, but had she not been ill it!!!8217;s a safe assumption that eventually she would of given me a deposit for a home as was her plan if she did beat the cancer and made it to 55, I have been very lucky to be left what I have. Many people I know won!!!8217;t ever come into something like this, hence what made me think, well what about them? Don!!!8217;t get me wrong I have friends who have spent silly money on silly things and still haven!!!8217;t started getting their lives together. I also know people who have skrimpt and saved every penny. I suppose I just wonder is home onwership in the future for the thrifty or the children of inherited wealth only? Do the standard working family have a chance without living without modern amenities. And frankly I can see why people don!!!8217;t want to, life is short as I have witnessed first hand. And I suppose we all priorities different, personally I would never spend £20k on a wedding but I know plenty that have. Maybe we millennials have just been fed this idea we can have it all when we really can!!!8217;t. Maybe we have this idea of what modern British life should include, own home, nice car, decent holidays, conviences etc.

I just think it!!!8217;s a sad state of affairs that prospects for this and coming generations feel bleak. And that isn!!!8217;t just the fault of the housing market. It!!!8217;s one wheel of a very large cog of dissolution.

WibblyGirly

economic wrote: »

Does it really cost only £30 a month? Based on the below its more like £85 a month.

http://www.thisismoney.co.uk/money/bills/article-2042014/How-does-cost-dog-cat.html

No one is saying not to spend anything. But if you are struggling to buy a home then you do need to look after the pennies if you really want to eventually buy. If you dont take it seriously and still can not afford then you have only yourself to blame.

He is a cheap pet. Only food, toys and meds. He is healthy, only been to vets twice in 2 years for very minor things.

I'm not struggling to buy. I have almost all the deposit (a good one, not a 5 or 10% one) all I need to do is finish uni, get that permanent job then go get a house. I think the hard part for us will be finding a house we like in the right area as we do not plan on moving ever again.

Cakeguts

Jaywood89 wrote: »

Cakeguts

A 20 something unskilled labourer today isn’t earning £45k even you can argue that.
They are earning 18 to 25k at best! And that’s assuming they went straight there after leaving school.

If I may I’d like to compare a government job for prove my point. My partners was an officer 1 as a prison officer. Meaning when he entered the prison service 10 years ago he was one of the last officer to receive the pay scale of officers who had been employed there for 30 years, which was a final wage of 31k after 10 years service. People entering the job now are on officer 2 contracts that start at 14k to 21k finishes at 23k after 5 years service.

Now my partner is no longer and officer as they began downgrading people to officer 2s using every loop hole possible. He left years ago!. Can you honestly say wages are really increasing to the level you have said? Using an example such as this.

Healthcare, social work and in fact all government jobs are being paid less today than their counterparts have been before. Benefits are cut, pensions are minimal and as ever the cost of housing and living is increasing.


Or better still my FIL is doing that same line worker job he was 30 years ago and earns over 40k doing the same job people half and a quarter of his age are doing for 18k. They aren’t on increasing wages such as his and he is one of the last on his wage range in the factory, once they all retire the work force (which is changing constantly due to no job security) will be on just above minimum wage to do what the generation before has done for more money

I don’t see how non of this has any affect on the housing market

I agree that an unskilled worker won't be earning £45k but neither will about 90% of university graduates but they will have about £50k in debt which could affect their affordability for a mortgage but apart from a few people on here and one of my friends who used to work in education I don't hear people telling the young people not to go to university.

A house is worth what someone will pay for it. So if houses are selling at the prices they are selling at someone is buying them. Who is buying them? Investors tend to depress prices not increase them so who is increasing the prices of houses?

Jaywood89

Have to disagree, I know a few FTB!!!8217;s struggling to secure a home because they are being gazumped by investors adding to their portfolio with much more money to put down that the people who have skrimpt and saved for 10 years.

Also doesn!!!8217;t the 2007 crash prove that theory wrong, where suddenly it just got too much and the market collapsed, won!!!8217;t that happen again if they keep rising faster than wages can meet them and with lending criteria!!!8217;s becoming more select?

Jaywood89

Also whoever moved my post. Thank you I did ask how to move it over but no one aswered

AdrianC

Jaywood89 wrote: »

Grandparents (1930’s onwards)
...
Option to buy home for £3000 in 1970. One years wages equivalent to price of house.

In 1970, average income was about £1,650, and average house price was about £5,000.