What chance does a twenty something year old have in the South? Anyone else in a similar boat?

chucknorris

jonnygee2 wrote: »

Why is it better? My sister and her son live with my parents. Parents take care of the kids, which they love. Family is a unit. Sister is rent free.

I didn't move out until I was 20 years old, but when i was 18 I wanted to start my own business, but my parents laid down the law and said that they didn't like the plan, and that I should just remain being 'employed' (which they considered 'normal'). So that didn't happen.

But I'm a quite successful now, so although they held me up a few years, they didn't/couldn't stop me being successful. The problem is that when you live in someone else's house you have to abide by their rules. The rules can extend to working life and social life, I think that it is natural for someone to start making their own way in the world.

Crashy_Time

MobileSaver wrote: »

^ This.

In the unlikely event there was a property crash, the irony is that you would find it harder to find your dream home. In a falling market the sellers of nice properties simply don't sell and getting a mortgage gets harder.

You are quite a way off the mark on all your points IMO. There is more chance now of a property crash than at any time in the last 20 years, and the market is made by actual sales not people who take their houses on and off the market, plus people with nice and not so nice houses sometimes NEED to sell, the three D`s or moving for work could be compelling reasons. On your final assertion, that getting a mortgage will be harder, I doubt things will play out as they have in the past, we have seen massive bank bailouts and are probably as near as we have ever been to some sort of debt forgiveness/citizens income to keep it all going, do you really believe that banks won`t lend to the credit worthy in a crash, when demand for loans is probably going to spike so people can pick up bargains?

Crashy_Time

tommysaver wrote: »

I don't mean to be rude, but Luton is probably one of the worst towns to live in the UK.

Also, I don't really see that as a viable place to live - it's not really a family home, is it?

I probably do need to lower any expectations I have, but there becomes a point where I'm just point blank not even interested..

Hence average run-of-the mill ex-council semis only being priced at double real value.

vivatifosi

Look at Bedford. Good train links to London, easy drive to north Bucks, reasonably priced property, nicer than Luton.

Don't rule out two bed flats as a starting point for a family. Investigate renting a garage from the council as a base for tinkering.

Les79

tommysaver wrote: »

I've recently done some quick maths, and well, I'm extremely depressed by it.

But maths is fun!



Don't be depressed by it

jimmyjammy001

Prices need to come back down to reality, whether they will or not who knows, some ftb's have the deposit saved up but are holding back ready to take the plunge due to the excessive amount of debt they will be signing up for and so are waiting it out at the minute, if prices do go down then it's the people who have brought in the past few years with a low deposit and the help to buyers who will end up in the negative territory. At it's current rate house prices are not sustainable, I do see quite alot of houses which were brought just 2-3 years ago now being sold for 80-100k more than brought for and people are paying those prices, its madness imo. If they get stung I hope they don't come on here for sympathy.

HPC_Ghuol_Hunter

I find it morally repugnant that a man in his mid to late 20’s would still be living under the roof and rules of his parents. This is where the label man-baby comes from. At what age will you decide to cut the umbilical cord and allow your parents some time to themselves? I left home at 18 to attend university and never moved back. I could not find anything more distasteful than being in my twenties and still living under mummy and daddy’s rules. Go out there and get a life. Grow a pair and start making your own way in life. Honestly. Your parents will never always be there to bail you out or subsidise your living.

jonnygee2

I find it morally repugnant that a man in his mid to late 20’s would still be living under the roof and rules of his parents. This is where the label man-baby comes from. At what age will you decide to cut the umbilical cord and allow your parents some time to themselves? I left home at 18 to attend university and never moved back. I could not find anything more distasteful than being in my twenties and still living under mummy and daddy’s rules. Go out there and get a life. Grow a pair and start making your own way in life. Honestly. Your parents will never always be there to bail you out or subsidise your living.

Calm down mate. Its just a discussion about house prices! No need to get your knickers in a twist.

System

MobileSaver wrote: »

^ This.

In the unlikely event there was a property crash, the irony is that you would find it harder to find your dream home. In a falling market the sellers of nice properties simply don't sell and getting a mortgage gets harder.

Also when come to want to move up a rung your house will have fallen in value too. So instead of a small increase in equity to put towards your next house you'll have lost your deposit and be back at square one.

ukcarper

jimmyjammy001 wrote: »

Prices need to come back down to reality, whether they will or not who knows, some ftb's have the deposit saved up but are holding back ready to take the plunge due to the excessive amount of debt they will be signing up for and so are waiting it out at the minute, if prices do go down then it's the people who have brought in the past few years with a low deposit and the help to buyers who will end up in the negative territory. At it's current rate house prices are not sustainable, I do see quite alot of houses which were brought just 2-3 years ago now being sold for 80-100k more than brought for and people are paying those prices, its madness imo. If they get stung I hope they don't come on here for sympathy.

I agree prices are to high in some places but unlike you I would have sympathy for people who bought recently if they have bought property as home not investment just as I have sympathy for people priced out. I take it you would also hope those who could buy but don't will not come on here looking for sympathy if prices go up.

It's extremely difficult to judge property market and trying to can cost you a lot saying that we are in unprecedented times and I can understand people waiting for brexit to be sorted before buying.