Will the next generation be able to buy their own house?

Malthusian

Herzlos wrote: »

At some point we may even see Japan style 50+ year mortgages.

I too hope Britons can be as long-lived and healthy as the Japanese some day. At which point they will qualify for longer mortgages thanks to their longer earning potential.

The longer a mortgage you can get, the better, as the lower payments free up more earnings for more productive investment (e.g. pension contributions). This only breaks down if the mortgage is not going to be fully repaid before retirement and it ends up as an equity release loan.

snowqueen555

Cakeguts wrote: »

https://www.rightmove.co.uk/property-for-sale/property-83705840.html So what you are saying is that you don't earn enough to buy this flat although you have a decent deposit which I assume is more than the £6000 needed for 10%?

If I lived in Bury I'd be buying :beer:

As said previously by others, I need to find a better job, move, or find someone to buy with.

Cakeguts

snowqueen555 wrote: »

If I lived in Bury I'd be buying :beer:

As said previously by others, I need to find a better job, move, or find someone to buy with.

The reason I posted this is because you can commute into Manchester from Bury. So a job is not a problem.

DannyGold

Yes the next gen will be able to buy their own homes easier than present, because this distorted property market will correct by the time this generation in school is buying homes

The-Joker

DannyGold wrote: »

Yes the next gen will be able to buy their own homes easier than present, because this distorted property market will correct by the time this generation in school is buying homes

If labour have their way then yes definitely the next generations will be able to buy their own homes easier than currently

RelievedSheff

The-Joker wrote: »

If labour have their way then yes definitely the next generations will be able to buy their own homes easier than currently

If Labour get their way buying a home will be the least of the next generations worries.

This country will be bankrupt and on it's knees:mad::mad::mad:

DannyGold

RelievedSheff wrote: »

If Labour get their way buying a home will be the least of the next generations worries.

This country will be bankrupt and on it's knees:mad::mad::mad:

Lower property prices are a step in the right direction

But yes there is no doubt we are in a dire situation you are right about that

The-Joker

DannyGold wrote: »

Lower property prices are a step in the right direction

But yes there is no doubt we are in a dire situation you are right about that

The situation is more dire than everyone knows,

May you live in interesting times indeed😂😂😂

DannyGold

RelievedSheff wrote: »

If Labour get their way buying a home will be the least of the next generations worries.

This country will be bankrupt and on it's knees:mad::mad::mad:

This country is bankrupt because it can never repay its debt, all it can do is go further and further into debt
If this country is on its knees then property will definitely crash

Davy_Jones_II

Everyone seems very pessimistic here. I’m not seeing it myself. I was out in Canary Wharf at the weekend and the Christmas shopping was all going on while later on the bars and restaurants were quite full.

At the airport thus morning for my flight to work it’s as busy as ever, and the large extension is continuing to grow.

There are just some people who’ll always see doom. Get up each day, do your best, keep improving yourself, and life can continue to be just fine.