Houses are affordable for first time buyers

lisyloo

Rich2808 wrote: »

As the OP says plenty of affordable housing - just generally not in areas where there are that many well paid job opportunities

Still its always useful to get insights on the challenges facing young people today from a smug middle aged boomer! Cue poor me but I had to pay 15% interest on my £20k mortgage when I bought my first house - yes for about a month in 1992!

They might know a thing or two. Few of them had it on a plate as some would like to believe (sometimes to explain away their own failure).
I listen to people who’ve done better than me and don’t write them off as smug. If you’re belittling someone else especially someone who’s done well then you need to question why you are doing that.
Is it to dismiss your own failure?

I have older relatives who had legs and arms blown off in the war (that guy still delivered sacks of coal). Few of them had it on a plate but you’d have to listen to find that out.

lisyloo

Herzlos wrote: »

We're 12 years after the last crash and still firmly I'm the "study hard, work hard, and there's no jobs for your degree, Wetherspoons is hiring though" stage, whilst inequality is growing.

That's nearly a generation who've been taught that it doesn't matter how hard you work, because if you dont have the connections you're not getting the good job.

In their position I think I'd be enjoying life instead of getting in the rat race too.


As someone on sandwiches for lunch (on a drive to get debt down due to living it up too much when I was young), theres something quite depressing about turning down regular invites out to lunch with the office, nights out, etc. I'm old enough and anti-social enough to be largely untethered, but for people just starting out in life it must be hard especially if they want to try and move up the career ladder.

What industry are you in? There are opportunities for people in IT, engineering. Maybe you didn’t pick the right industry?
That’s not a criticism just sometimes you need to adapt your plan.
There are careers available in plenty of professions e.g. there are nursing and teaching vacancies.

csgohan4

Herzlos wrote: »

We're 12 years after the last crash and still firmly I'm the "study hard, work hard, and there's no jobs for your degree, Wetherspoons is hiring though" stage, whilst inequality is growing.

That's nearly a generation who've been taught that it doesn't matter how hard you work, because if you dont have the connections you're not getting the good job.

In their position I think I'd be enjoying life instead of getting in the rat race too.


As someone on sandwiches for lunch (on a drive to get debt down due to living it up too much when I was young), theres something quite depressing about turning down regular invites out to lunch with the office, nights out, etc. I'm old enough and anti-social enough to be largely untethered, but for people just starting out in life it must be hard especially if they want to try and move up the career ladder.

People also make the wrong choices, doing a degree because you like the subject or want to mess around at Uni but realistically there are no jobs in it is wasteful. e.g computer games studies,


you are also unlikely to get a job if you do not get a high enough degree grade a 3rd class over a 1st class doesn't cut it generally.


People might say, some people have a broader life experience e.t.c, but what's on paper is what gets you an interview is the bottom line, a gap year in Ibiza as a club med rep is not going to cut it.


That time spent studying instead of Pi$$ing it away in Ibiza will come in handy one day

ukcarper

I can only speak for where I live in South East.

I paid £8000 for my first house about half way through 1972 boom, it was 3.5x our joint income.
Similar houses in same road now sell for £300k and if we were in similar jobs we would be earning about £55k so about 5.5x. We managed to borrow more than the normal 2.5x+1x at the time, we put down a 10% deposit doing the same now we would need a 5x joint income mortgage, so definitely more difficult now.

I would say I bought in one of the more difficult times in 70s but saying that I would not have been able to buy 6 months later. Interest rates were higher for me and paying mortgage was possibly more difficult than it would now be but that is irrelevant if you can't get mortgage.

I did have to move 20 mile from where I was living and working to buy that house.

Herzlos

lisyloo wrote: »

What industry are you in? There are opportunities for people in IT, engineering. Maybe you didn’t pick the right industry?

Oh I'm fine, I've got a decent career and make well above average. I just happen to have an awful lot of debt due to being reckless with money! But then I graduated a couple of years before the crash and dodged a few rounds of redundancies.


I probably wouldn't pick the same industry if I had to start from scratch, but the only real complaint is that I can't do homers to pick up extra cash, and don't get overtime.

lisyloo

I definitely wouldn’t do the same now.
I went to uni when it was free and there were maintenance grants (I didn’t get a full one).
I’m not so sure it would be worth it now for a medium earner.

fatbeetle

You want a cheap house?

2 bedroom terraced house for sale
Commercial Street, Swansea, SA9
Two bedroom mid terraced home in need of some modernisation. Set over three floors with lounge, kitchen/diner and family bathroom. Gas combi c/h & uPVC d/g. Walking distance to local amenities. Ideal first time buy or investors purchase. Viewing recommended. No onward chain.
Reduced on 08/11/2018 by Purplebricks, covering Wales

£50,000

£50,000

SUMMARY
Peter Alan Neath are pleased to offer this two bedroom property in Neath. Located close to local amenities and good links to public transport and the M4 motorway. The accommodation briefly comprises of entrance porch, living/dining room with doors opening to the rear garden and fitted kitchen.

Lots more on offer...

custardy

fatbeetle wrote: »

You want a cheap house?





Lots more on offer...

Were there no cheap houses in the 70s/80s then?
Average price in Swansea is £182k

[Deleted User]

I suspect this is a troll post bit for those engaging I think op makes a few mistakes.

One, 125k houses are not readily available. That wouldn't get me a flat where I've grown up. Family houses are several times that.

Two, op forgets that interest rates are a historic low. What happens when they go up? Not like we're heading into a period of uncertainty or anything lol.

Three, a 25k job isn't as easy as a Google.

My bf and I are saving hard together for our first home and hope to get their for 30 so we can then start a family.

My parents were a single earning family and not wealthy yet could buy a decent family house with garden.

I'm not convinced by OPs argument.

ukcarper

Looking at Nationwide data in 1973 the cheapest region was the north with a average price of £7713 and London was highest sat £12863. In 2019 lowest region was still north at £129147 London still highest at £458363.

Meaning in North prices have increased by about 17x while in London they have increased about 37x

https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/downloads/all-prop.xls?date=june