Will there really be a crash?

ukcarper

lisyloo wrote: »

I have a colleague who commutes from birmingham to London 3 days a week and works from home for 2. Advance tickets on virgin are £8 and she finds the 1 hour 20 min (I think) acceptable 3 times a week. She prefers that to the Berkshire trains where there were arguments and people coughing over you every day, also has a 4-bed.

So perhaps look outside Surrey and consider other solutions?

Do you really believe that everything is OK if people have to move 50 miles from where they work to buy a one bedroom flat. I moved 20 miles and commuted in 70s but if I was in the same position now I would not be able to buy and at the time I bought in 70s property was much higher than long time average.

ukcarper

lisyloo wrote: »

Does that apply to everywhere within commutable distance from you?

I don't work now but I do live in the cheapest part of Surrey, remember I am talking about people earning much more than median earnings.

triathlon

ukcarper wrote: »

I don't think it's about aspirations if a 2 bed house is out of reach for two people both earning the 70% percentile of full time earnings property is unaffordable. Where I am you need to be earning at 70% percentile for full time earnings to buy cheapest one bed flat I personally think that is a problem.

Well get him to tell us where he lives and we will do our own research, I personally think we will find better than Luton and within his budget

ukcarper

triathlon wrote: »

Well get him to tell us where he lives and we will do our own research, I personally think we will find better than Luton and within his budget

We don't know his budget just that £434k for a 2 bed house outside London is too high.

GreatApe

ukcarper wrote: »

We don't know his budget just that £434k for a 2 bed house outside London is too high.

And yet month after month people seem to be buying property so despite your protest that property is unaffordable it is in fact affordable. The question is not is property affordable the question is how are people able to afford property at these prices? And I have explained this, property is affordable when you consider the £200 billion annual flow of capital from old to not so old

And need I remind you once more, uk born ownership levels are at near peak highs. Only a hand full of years was ownership for uk born marginally higher and those were just before the crash when self cert mortgages allowed the 10% of the population that work in the black market to also have mortgage finance.

ukcarper

GreatApe wrote: »

And yet month after month people seem to be buying property so despite your protest that property is unaffordable it is in fact affordable. The question is not is property affordable the question is how are people able to afford property at these prices? And I have explained this, property is affordable when you consider the £200 billion annual flow of capital from old to not so old

And need I remind you once more, uk born ownership levels are at near peak highs. Only a hand full of years was ownership for uk born marginally higher and those were just before the crash when self cert mortgages allowed the 10% of the population that work in the black market to also have mortgage finance.

You keep claiming they are but as I showed numbers are falling. In 2000 there were 464,000 FTBs in 2017 there were 335,750.

lisyloo

ukcarper wrote: »

Do you really believe that everything is OK if people have to move 50 miles from where they work to buy a one bedroom flat. I moved 20 miles and commuted in 70s but if I was in the same position now I would not be able to buy and at the time I bought in 70s property was much higher than long time average.

I don’t think people should be moaning if they can’t afford to live in Kensington and Chelsea or exclusive parts of Surrey for their first gaff.
Many of us really struggled hard to mouth, for example lived with parents, didn’t have carpets initially certainly no mobile phones or internet. I appreciate standards are different now and I wouldn’t expect then to go without a mobile phone (mines £7.5 per month and many people who claim to be struggling are paying £50-£60 per month). First step is to get them to do an SOA then it all comes out.

So yes I do think people starting out should expect to have to make compromises on their lifestyle, their commute etc.
Millions of people in London do this every day and travel in appalling conditions that would not be permitted for animals.

Do you think everyone should be able to buy a 4-bed in leafy parts of Hampshire/Surrey as their first gaff? I don’t think that’s do-able.

If there really is a problem, why did people vote the Tories in again? Why isn’t there massive unrest in the streets? I pass parliament square every day and nothing out of the ordinary is going on. The only time it was exceptional was when trump visited so he seems to be a greater concern for most people.

I also think they should get off the internet, stop moaning and use the time for either getting a second job or if better spend getting qualifications that will boost their career to a higher payscale. In many cases the 2nd job would be a better bet.

I know a lot of parents as I’m now in my fifties and it’s not the ma8n topic of converasartion at dinner. In my area they are still able to afford quite expensive hen parties, weddings and homes. In fac the amount spent on travel/hen parties/weddings is staggering. I don’t think people are sav8ng like they used to. That is their choice but back in the 80s we had None of that. No foreign holidays, no takeaways, no nights out etc. I’m not saying they are wrong, some of my colleagues died in their 40s and 50s so life is about balance, but if you spend 4-figures on a spa hen party then clearly it can’t go on a deposit, so it’s definitely different behaviour that has consequences.

Herzlos

I think a lot of the youth have a more nihilistic approach to money and housing - if you'll never be able to afford a nice house because the deposit requirements are growing faster than you can save, then you may as well spend the money on enjoying yourself instead of living like a pauper and still getting nowhere.


It's likely to be a real time-bomb later as no-one has any money, savings or investment.

triathlon

ukcarper wrote: »

We don't know his budget just that £434k for a 2 bed house outside London is too high.

I am just trying to find out so I put forward some suggestions and I am 99% certain he is being unrealistic. Peterborough, only a short commute from London, look there just for starters, plenty at less than £190,000, and nice properties, too many to list

triathlon

lisyloo wrote: »

I don’t think people should be moaning if they can’t afford to live in Kensington and Chelsea or exclusive parts of Surrey for their first gaff.
Many of us really struggled hard to mouth, for example lived with parents, didn’t have carpets initially certainly no mobile phones or internet. I appreciate standards are different now and I wouldn’t expect then to go without a mobile phone (mines £7.5 per month and many people who claim to be struggling are paying £50-£60 per month). First step is to get them to do an SOA then it all comes out.

So yes I do think people starting out should expect to have to make compromises on their lifestyle, their commute etc.
Millions of people in London do this every day and travel in appalling conditions that would not be permitted for animals.

Do you think everyone should be able to buy a 4-bed in leafy parts of Hampshire/Surrey as their first gaff? I don’t think that’s do-able.

If there really is a problem, why did people vote the Tories in again? Why isn’t there massive unrest in the streets? I pass parliament square every day and nothing out of the ordinary is going on. The only time it was exceptional was when trump visited so he seems to be a greater concern for most people.

I also think they should get off the internet, stop moaning and use the time for either getting a second job or if better spend getting qualifications that will boost their career to a higher payscale. In many cases the 2nd job would be a better bet.

I know a lot of parents as I’m now in my fifties and it’s not the ma8n topic of converasartion at dinner. In my area they are still able to afford quite expensive hen parties, weddings and homes. In fac the amount spent on travel/hen parties/weddings is staggering. I don’t think people are sav8ng like they used to. That is their choice but back in the 80s we had None of that. No foreign holidays, no takeaways, no nights out etc. I’m not saying they are wrong, some of my colleagues died in their 40s and 50s so life is about balance, but if you spend 4-figures on a spa hen party then clearly it can’t go on a deposit, so it’s definitely different behaviour that has consequences.

I know this sounds cruel, but many of these delusional people who want to jump the ladder and with near to zero to offer in the way of education, hard work and background are the product of a lazy welfare system where they encourage self entitlement and low standards with no inherited money, they should blame their parents and not us,