Where have all the 20 something’s gone?

moneyistooshorttomention

Cakeguts wrote: »

What I will say is that in order to buy my house in my 20s I moved job and areas to an area where I could afford to buy on my own. Where I had my first job I couldn't afford to do that.

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That's the thing though - you were prepared to move (and seem to feel okay about it) for a starter house. Others of us move - and are upset at having to do so.

I certainly feel it's wrong for people to have to move to elsewhere in the country to get a house - whether it's a starter or a further-up-the-ladder one and I don't blame people a bit who say "Why should I?" and won't - and I expect that's most people.

economic

moneyistooshorttomention wrote: »

That's the thing though - you were prepared to move (and seem to feel okay about it) for a starter house. Others of us move - and are upset at having to do so.

I certainly feel it's wrong for people to have to move to elsewhere in the country to get a house - whether it's a starter or a further-up-the-ladder one and I don't blame people a bit who say "Why should I?" and won't - and I expect that's most people.

If someone cant afford to buy where they want, they shouldn't blame others, and only blame themselves.

Crashy_Time

G_M wrote: »

Discussions belong in the discussion forum.

ESPECIALLY discussions that mention the big dirty elephant in the room....................................HOUSE PRICES! :rotfl:

Red-Squirrel_2

Cakeguts wrote: »

I liked it there. It was affordable next to the council estate but not council.

The salary would be what I said as I looked it up for this year before I posted. It is a national pay scale. In fact you can buy a two bed house in Oldham cheaper than this so you wouldn't need to earn £30k.

http://www.rightmove.co.uk/property-for-sale/property-52896558.html You could get this one on a single income of less than £20k

To be fair though, that needs a fair bit spending on it!

Red-Squirrel_2

Cakeguts wrote: »

http://www.rightmove.co.uk/property-for-sale/property-57693559.html

Now here is a case in point. This house is within walking distance of a train station that will take you into Manchester. In fact just recently people have started to commute to Manchester from this village. Manchester is doing very well. A short distance away there is a large reservoir where people do water sports and the village itself has a canal running through it with narrow boats so quite a nice area. It is just under 30 mins from this village to Manchester Victoria where you can get the tram. Yet I can guarantee that someone will moan about not being able to buy a nice house in a nice area because they don't earn enough to buy in the southeast but will make absolutely no effort to look at moving to a different part of the country like this one.

Um, that house is nearly half a million quid...

moneyistooshorttomention

economic wrote: »

If someone cant afford to buy where they want, they shouldn't blame others, and only blame themselves.

I must say I'd be interested to know how it could possibly be their own fault if:
a. They are doing a full-time job or career and trying to earn as much money as they can.
b. They are being good with money (no takeaway coffees/50" tv/running a car/etc).

:cool:

I think that comment of yours must rate as the most illogical one I've read yet...

KiKi

I'm one year out of the Millennial range (believe I'm now a Xennial!) and yes, I'm worried for the 'generation' below me, and the ones to come.

I bought my first flat at 3.5 times my salary. I bought my current house at a cost of 7 times my salary (mortgage was obv lower) - but I could only afford it because I had a large deposit from my first two flats making so much money in such a short space of time, and I've also had very high pay rises in the last 15 years. On the one hand I'm lucky - and I'm glad that I've benefited from it. My sister who's 12 years older than me is in an even better position - hardly ANY mortgage at all compared to me (1/3 of mine) and earns much less, as she bought 15 years before me. But most people 35 or younger stand no chance in my city.

I live in Brighton. Hardly any of the younger people in my church would be able to buy here now in a starter flat. Most live with their parents, or rent in a house-share. Brighton salaries are low compared to cost of renting. The only way of doing it here is inheriting a deposit, living free with parents to save for a deposit, working in London / buying with a partner who works in London, or managing to get a very well paid job here which is unlikely without a highly specialist skills set.

Not helped by the fact that many people here don't sell when they move - we have literally thousands of absent landlords here, who turn their family houses into HMOs and rent at huge rates to students, pushing house prices up. Again, good on them for benefiting and I understand why they do - but it impacts on families trying to buy three bed houses because there aren't many of them compared to how many there could be. I'm in a street of 14 houses - nine of them are rented out as HMOs, and none of the landlords live in Brighton. They are houses that could be used by families, but they're not as HMOs are more profitable.

So yes, I do worry, but at the same time I know I've benefited. It's a tricky one for me, ethically!

Tygermoth

FTB in our later years. Saved hard, and i mean really hard (yes, baked beans) Got so frustrated as house prices seemed to rise in tune with our savings as did our rent.

Finally managed to buy. We are coming up to our first re mortgage off the terrible FTB rate we have - and we are still on a money diet to improve out equity so we have a better mortgage rate.

My living room remains empty as we have not had enough money to buy furniture - but we don't care. We absolutely love our home.This remortgage cant come quick enough though.

I feel for everyone on the outside looking in. it's a sad and frustrating place to be.

Cakeguts

Red-Squirrel wrote: »

Um, that house is nearly half a million quid...

Yes but it is much cheaper than this one http://www.rightmove.co.uk/property-for-sale/property-53823399.html

Cakeguts

KiKi wrote: »

I'm one year out of the Millennial range (believe I'm now a Xennial!) and yes, I'm worried for the 'generation' below me, and the ones to come.

I bought my first flat at 3.5 times my salary. I bought my current house at a cost of 7 times my salary (mortgage was obv lower) - but I could only afford it because I had a large deposit from my first two flats making so much money in such a short space of time, and I've also had very high pay rises in the last 15 years. On the one hand I'm lucky - and I'm glad that I've benefited from it. My sister who's 12 years older than me is in an even better position - hardly ANY mortgage at all compared to me (1/3 of mine) and earns much less, as she bought 15 years before me. But most people 35 or younger stand no chance in my city.

I live in Brighton. Hardly any of the younger people in my church would be able to buy here now in a starter flat. Most live with their parents, or rent in a house-share. Brighton salaries are low compared to cost of renting. The only way of doing it here is inheriting a deposit, living free with parents to save for a deposit, working in London / buying with a partner who works in London, or managing to get a very well paid job here which is unlikely without a highly specialist skills set.

Not helped by the fact that many people here don't sell when they move - we have literally thousands of absent landlords here, who turn their family houses into HMOs and rent at huge rates to students, pushing house prices up. Again, good on them for benefiting and I understand why they do - but it impacts on families trying to buy three bed houses because there aren't many of them compared to how many there could be. I'm in a street of 14 houses - nine of them are rented out as HMOs, and none of the landlords live in Brighton. They are houses that could be used by families, but they're not as HMOs are more profitable.

So yes, I do worry, but at the same time I know I've benefited. It's a tricky one for me, ethically!

What was it like in terms of housing before Brighton Art College became a university?